Bitcoin Will Use Energy And It Doesn’t Need To Be Renewables
The listed below is a direct excerpt of Martys Bent Issue # 1203: “Do not cede the frame. Energy use is excellent.” Register for the newsletter here.(Source)As you freaks may understand, I believe many in the North American bitcoin mining industry are making a long-lasting strategic mistake in their efforts to calm the environment hysterics of the world by pointing to the reality that lots of bitcoin miners utilize eco-friendly energy and that it will assist “stage out” fossil fuels over time.It is true, many bitcoin miners are benefiting from artificially low electrical energy rates driven by huge aids offered to “green” energy sources like wind and solar throughout the U.S. However, individuals who are driving these miners to stumble and bend the knee over themselves to collect information and compose letters with a lot of signatures from big industry players will never ever be pleased. The mining industry could have an energy mix of 100% “renewables” and the hysterics would find a way to move the goalposts. They are currently starting to do that.Even though Peter might be entirely ignorant to the fact that bitcoin miners may, rather literally, be the only possible users of those “renewable” energy sources, truths dont matter in the hysterical clown world that these individuals live in. Its everything about CONTROL. They can not control bitcoin, so they will find every excuse in the book, no matter how illogical, to attempt to stop bitcoin from succeeding.By ceding the frame to these hysterics and working to appease them, the bitcoin mining market is giving their nonsensical positions validity. Instead, we ought to work to own the frame and develop our frame on realities. And the truths are extremely easy. Human beings are great. Increased energy consumption correlates with increased human flourishing. Hydrocarbons are a vital part of our future. And a bitcoin requirement is going to make the world incredibly energy efficient because of the incentives presented under a sound money requirement and the method bitcoin brings about that standard via proof-of-work with a problem adjustment.Stop acting like a lot of losers who need to plead authorization to make the world a much better location and start acting like a positive group that is currently doing the difficult work that is making the world a better place.I had the satisfaction of taking a seat with Dr. Saifedean Ammous this morning to discuss this topic at length. I extremely suggest you peep the discussion and think tough about how destructive ceding the frame to these individuals can be in the long-run. Its a massive wild-goose chase.
(Source)As you freaks may understand, I believe lots of in the North American bitcoin mining industry are making a long-lasting strategic error in their attempts to calm the environment hysterics of the world by pointing to the reality that lots of bitcoin miners utilize sustainable energy and that it will help “phase out” fossil fuels over time.It is true, lots of bitcoin miners are taking advantage of synthetically low electrical power costs driven by massive aids supplied to “green” energy sources like wind and solar throughout the U.S. However, the people who are driving these miners to bend the knee and stumble over themselves to collect information and write letters with a lot of signatures from huge market players will never be satisfied. They can not manage bitcoin, so they will discover every excuse in the book, no matter how illogical, to attempt to stop bitcoin from succeeding.By ceding the frame to these hysterics and working to appease them, the bitcoin mining industry is giving their ridiculous positions validity. And a bitcoin standard is going to make the world exceptionally energy effective since of the incentives put forth under a sound money requirement and the way bitcoin brings about that basic through proof-of-work with a trouble adjustment.Stop acting like a lot of losers who need to ask approval to make the world a better place and begin acting like a positive group that is currently doing the tough work that is making the world a better place.I had the satisfaction of sitting down with Dr. Saifedean Ammous this morning to discuss this topic at length.
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Other Questions People Ask
Does Bitcoin need to rely on renewable energy sources for mining?
No, Bitcoin does not need to rely on renewable energy sources for mining. While many miners utilize renewable energy, the argument that they must do so to appease environmental concerns is flawed. The focus should be on the benefits of energy consumption and how Bitcoin can drive efficiency, regardless of the energy source. Ceding the narrative to environmental critics only undermines the potential of Bitcoin as a transformative technology.
Why is it a mistake for Bitcoin miners to focus on renewable energy?
Focusing on renewable energy can be a strategic mistake for Bitcoin miners because it validates the concerns of environmental critics who may never be satisfied. By attempting to appease these critics, miners risk losing sight of the core benefits of Bitcoin, which include increased energy efficiency and human flourishing. Instead of bending to external pressures, the industry should emphasize the positive impact of Bitcoin on energy consumption and economic growth.
How does Bitcoin mining contribute to energy efficiency?
Bitcoin mining contributes to energy efficiency by creating incentives for more effective energy use through its proof-of-work mechanism. As miners compete to solve complex problems, they are driven to seek out the most cost-effective and efficient energy sources available. This competitive environment can lead to innovations in energy consumption and a more efficient allocation of resources, ultimately benefiting society as a whole.
What are the implications of ceding the frame to environmental critics in Bitcoin mining?
Ceding the frame to environmental critics can have detrimental implications for the Bitcoin mining industry. It allows these critics to dictate the narrative, which can lead to misguided policies and regulations that stifle innovation. Instead, the industry should assert its position by highlighting the realities of energy use and the positive outcomes associated with Bitcoin mining, fostering a more informed discussion about its role in the economy.
Can Bitcoin mining thrive without renewable energy sources?
Yes, Bitcoin mining can thrive without relying solely on renewable energy sources. The industry has the potential to utilize a diverse energy mix, including fossil fuels, which can still support efficient mining operations. By embracing this diversity, Bitcoin miners can continue to operate effectively while also contributing to broader discussions about energy consumption and economic development.