Issue #1304: Subsidized "renewable" energy is not sustainable
How long can the state sustain the grift?
Energy production & power generation that is not economically sustainable without government subsidies is not renewable. The common use of the words "renewable" & "sustainable" is a cooption of language. #bitcoin incentivizes the lowest cost power, which is the most sustainable.
— Parker Lewis (@parkeralewis) January 19, 2023
Our friend Parker Lewis makes a very good point. It is a point that many companies and individuals in the bitcoin mining industry should take to heart. There are a number of industry players who are hitching their wagons to a subsidy grift that could end at any moment. The grift is called "the green transition".
"The green transition" is a narrative that has been building for decades. It goes something like, "Humans are creating too many greenhouse gas emissions because we've gotten so good at harnessing hydrocarbons and herding cattle to our benefit. These greenhouse gas emissions are changing the climate and the pace of change will destroy life on the planet. To avoid total destruction it is imperative that humans transition away from the reliable energy sources that have enabled us to build the world we live in today and begin building out renewable energy infrastructure to reduce greenhouse gas emissions." Here in lies the gateway to the grift many miners have hitched their wagons to.
