It's official, the mediocre blog scribes at publications like The New York Times, Wall Street Journal, and Bloomberg are going to have to find a new type of FUD to throw at Bitcoin as the power squad over at Coinshares dropped an inconvenient truth bomb on the world yesterday in the form of actual Bitcoin miner energy usage data. Boy, are these NARPs going to be floored when they find out Bitcoin mining may be one of the CLEANEST industries in the world in terms of percentage of renewables used overall, as miners actively seek out stranded energy sources to tap into and turn into bitcoins.
It just so happens that a lot of these stranded energy sources are hydroelectric and geothermal operations, two of the cleanest energy sources in the world. Bitcoin PAYS people to use renewable energy, thus increasing the demand for and production of renewables around the world. Though, I have been warned on Twitter that I should not focus on the renewable energy stats alone, but instead drive home the fact that Bitcoin is giving previously unharnessable energy sources new life, allowing the world to be as energy efficient as possible if we have the wherewithal to build out the vision. For example, roving mining operations like Upstream Data are traveling to natural gas drilling sites and taking the methane that is usually released into the atmosphere, unused (very bad for the environment), caps it, and uses the energy to power Bitcoin miners. Turning otherwise wasted energy into digital gold.
Bitcoin creates the perfect incentive to liberate these wasted energy sources and, by extension, creates a new dimension in which human ingenuity can flourish. Now that these possibilities exist, it will be fascinating to see what type of ingenious schemes we monkeys come up with on the quest to become as energy efficient as possible as we continue our mad dash for fake Internet money.
Those of us who choose not to wear underwear are everywhere. Walking amongst the masses, feeling liberated from social norms of clothing layers.
Enjoy your weekend, freaks.