Mainstream media has been awash with Bitcoin pundits decrying that Bitcoin is bad for the environment; however, Bitcoin flaring is the new energy paradigm. Often, critics point out Bitcoin’s energy consumption as compared to other countries. People read such statistics
Mainstream media repeatedly takes Bitcoin’s energy use out of context. They fail to consider the extraordinary energy usage that the current fiat banking system uses. Peer-to-peer transactions cut-out the energy insufficient middleman. Check out these articles related to Bitcoin energy usage.
Politicians and Mainstream Media Unfairly Demonize Bitcoin’s Energy Use One of Bitcoin’s primary criticisms is, in fact, its greatest strengths. And that is its energy cost-efficiency. Unfortunately, mainstream media and politicians alike have been too quick to condemn Bitcoin’s energy
“If governments regulate and tax carbon, then bitcoin demand actually supports and incentivizes, and in a way subsidizes, the installation of renewable energy.” -Andreas Antonopoulos- In this video Bitcoin philosopher king, Andreas Antonopoulos, provides his perspective on Bitcoin energy
The falling hash rate of Bitcoin, as a result of China shutting down Bitcoin mining operations throughout the country, is only a near term snafu. Even though the short-term price of Bitcoin has suffered, Bitcoin will emerge more geographically decentralized