We have to produce more energy, like exponentially more energy. That's the problem. Every single thing humans do consumes energy. Internet was said to consume too much energy. Should we go back to the caves or learn to produce energy more efficiently?
Traditional banking system consumes 56 times more energy than Bitcoin and US military is the world's largest industrial pollutant. For what? To protect USD.
Bitcoin is not comparable to old systems. We don't need to justify Bitcoin energy consumption. Hard money has natural cost of production. Otherwise it won't be hard money.
Bitcoin is global, borderless without central authority. Instantly teleportable bearer instrument (not credit or IOU) for only a fraction of a cent cost. No middlemen, card company fees, bank fees. Scarcer than gold, easier to carry and spend than cash.
As someone who has worked in the energy industry, anyone you ask in energy industry will tell you the biggest hindrance to renewable energy production is subsidizing cost of research, build out, operation. Bitcoin does this better than anything else. Every energy producer will become a Bitcoin miner. It's just common sense. On top of this, Bitcoin is becoming a key player in the US to combat methane emissions in oil fields. Crusoe energy's digital flare mitigation has been used to drastically reduce methane emissions by upto 98% in Texas and other states in the US. They're taking it to 8 other countries now including middle east, Russia, Australia.
Abu Dhabi and Oman sovereign wealth funds are investors in Crusoe energy as part of $350 million funding round last month.
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