“While Bitcoin does not litigate the ethics of hydrocarbon production, it is not controversial to point out that the dollar, in that it is sustained by the continuation of the US military-industrial complex (the single largest consumer of oil in the world), carries an incomparably greater carbon footprint than the Bitcoin network will ever begin…
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“All this to say, there is no optimistic version of the future in which humanity does not use significantly more energy than it does today.” – Hodl’n Caulfield & Selene Lindstrom
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“If there is ever competition for the energy that the Bitcoin miners are buying, the miners turn off their machines, perhaps to turn them back on later in a real-time response to grid loads. This relationship is poorly understood by many, leading to a popular but incorrect assumption that Bitcoin is “wasting” energy that could be used for other projects.” – Alex Gladstein
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“Money condenses energy. Bitcoin is the first and only tool we have for converting electric energy to monetary energy. Now what does this do to the energy market?” – Knut Svanholm
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“It is truly impossible for the petrodollar system to be green when it is based on black gold.” – Alex Gladstein
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“Bitcoin miners are unique energy buyers in that they offer highly flexible and easily interruptible load, provide payout in a globally liquid cryptocurrency, and are completely location agnostic, requiring only an internet connection. These combined qualities constitute an extraordinary asset, an energy buyer of last resort that can be turned on or off at a moment’s notice anywhere in the world.” – Square & ARKinvest
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“…And we’re just considering two sources of nonrival energy: clean energy curtailment in China, and vented/flared gas in the U.S. There are many other sources of stranded and nonrival energy sources globally. Suffice to say, there’s enough nonrival energy out there to run Bitcoin many times over. It’s just a matter of deploying hashrate in the right locations, which miners are doing — aggressively.” – Nic Carter
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“Bitcoin is not taking gas from your car or electricity from your house, it is making power production more efficient, utilizing otherwise “stranded” energy sources and helping to fund the development of renewable energy technologies.” – Evan Bayless
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“Bitcoin is a unique digital asset for an increasingly digital world that requires digging deeper than the surface level to understand its core properties and trade-offs.” – Ria Bhutoria
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Preparing for the Second Part of Dhruv’s incredible series, today we have a reboot of Part 1!
Equal parts entertaining & intellectually intriguing, we start with Part 1 of Dhruv Bansal‘s wonderful piece, Bitcoin Astronomy ! The interplanetary center of hash, the Law of Hash Horizons, the Muskcoin Revolution, retaliation of the Bitcoin Empire, and the total economic devastation of the Hash Bomb! How could you not want to know more?
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