TD₿: Bitcoin Mining and The Case For More Energy by Drew Armstrong and AJ Scalia
TL;DR Bitcoin allows us to harness and consume more energy which could drive humanity forward to new heights.
When you read about Bitcoin mining in the mainstream media, you’ll often read articles with titles like “Bitcoin Consumes As Much Energy as Denmark!” or “Bitcoin Will Boil the Oceans!”
First off, these “journalists” often use the wrong methodology when calculating Bitcoin’s carbon footprint and secondly, they completely miss the point that consuming energy is not inherently bad.
In fact…by harnessing and consuming MORE energy, humans were able to greatly raise the standard of living and progress humanity forward over the last century.
This article from Drew Armstrong and AJ Scalia dropped last week and it gets this point across beautifully (12/08/21).
Bitcoin mining represents a new technological advancement in our ability to liberate energy resources that would otherwise be stranded or go wasted.
By allowing humans to utilize more energy than ever before, Bitcoin mining could be the key to advancing our civilization forward into a period of prosperity and substantial economic growth.
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Quote of the Day
“Money is energy. Bitcoin is the first crypto monetary energy network, capable of collecting all the world’s liquid energy, storing it over time without power loss, and channeling it across space with negligible impedance.” - Michael Saylor, CEO of Microstrategy
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