PETER HAMMOND

PETER HAMMOND

I keep hearing that Bitcoin is destroying the environment!  How is this sustainable?  Won’t the environmentalists and global warming activists try to stop it?

BAM 

Bitcoin’s Energy Mix Is Greener Than Most Other Industries

Not only is Bitcoin ESG-friendly, but it is one of the greenest technologies we have. Bitcoin incentivizes miners to seek out renewable energy sources to maximize cost efficiency. This drives clean energy innovation, and provides a buyer of last resort for otherwise curtailed or stranded energy sources. Bitcoin mining is also mobile, which is a huge benefit for capturing these energy sources.

 
 
 

Instead of bringing the energy molecule to the market, which takes massive infrastructure costs and lost efficiencies, Bitcoin takes the market to the molecule. Being able to park Bitcoin mining operations atop oil and natural gas sites enables these companies to flare (burn off) their CO2 gas emissions, instead of releasing them into the atmosphere which would be more harmful.

Source: https://www.4dplp.com/post/bitcoin-is-great-for-the-environment

 
 
BAM

“Bitcoin will consume any and all energy resources necessary to secure its monetary network, which is inherently driven by the base demand to hold it as a currency. The more people that value the long-term stability it provides, the more energy it will consume. In the end, this consumption will ensure all other derivatives of energy consumption will continue to be fulfilled, which is why there is no more important long-term use of energy than securing the bitcoin network. Put a price on economic stability and the economic freedom a stable monetary system provides; that is the true justification for the amount of energy bitcoin should and will consume. Everything else is a distraction.” -Parker Lewis

 


https://nakamotoinstitute.org/mempool/bitcoin-does-not-waste-energy/

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