This argument is built on such flawed logic it’s almost unbelievable. First of all, you can’t just say anything that uses energy is bad for the environment. We’re trying to change the source of energy not the fact that we use energy at all, that’s idiotic.
data: Ark Investment Management LLC
Even ignoring all of this, Bitcoin is the first non-government induced incentive to increase the rate of innovation in renewable energy. The people pushing the “Bitcoin is bad for the environment” narrative aren’t just wrong, the reality is the complete opposite.
Even If you discount the fact that Bitcoin is pushing the green tech industry forward for some reason, there’s a reason that energy is used to mine Bitcoin. With Bitcoin’s robust proof-of-work system, your money is essentially backed by pure energy.
Backing anything worthwhile uses a lot of energy. We’re not going to apologize for Bitcoin using energy. The current banking system and military use infinitely more energy than Bitcoin. Those institutions definitely don’t incentivize renewables, in fact, they’ve been doing the opposite for decades.