The fascinating thing about the Bitcoin network is that it’s just at the beginning of its journey.
This is a new technology, and it’s disrupting the money industry. Obviously, there is massive resistance from governments and central banks, as they feel threatened by the growing weight in the economy that the Bitcoin network is exerting.
Discussing energy concerns is essential, but it’s not the main issue.
Like many other aspects of the energy industry, bitcoin is not necessarily a “bad guy.” It’s simply a new and vaguely understood industry.
The discussion about energy consumption and bitcoin is, I believe, unfair without discussing the energy intensity of new technologies overall, specifically in data centers.- Jack Marley in theconversation.com
The main issue is that Bitcoin has been used as currency in developed countries and threatens countries’ currencies. Governments legitimately have concerns about losing control of their currencies. That means losing control of security and geopolitical matters. And this is something that we should all care about.
A new technology unknown to most is quickly taken advantage of by malicious individuals. We live in security because we have regulators and institutions that look after the protection of its citizens.
We must not forget this incredible detail to deter the excitement of seeing the bank account grow astronomically by betting on new technology.
We should try to put some emotion aside and try to realize that the institutions that we sometimes feel manipulating us are also those that protect us from outside aggression.
Yet, the Bitcoin network was designed to be decentralized.
A Bitcoin Mining Council, as good as it may seem, contradicts an entire anti-system culture described by its creator, Satoshi Nakamoto, as an alternative to the current system.
Will this Council survive the irreverence of a community tired of manipulation, distortions, opaque policies, and lack of transparency?
I think the Bitcoin Mining Council will be a good thing because it’s going to bring ESG discussion into the mainstream.
The Bitcoin community will see the discussion move forward across the spectrum of highly polluting industries. If the proper comparisons are made, with intellectual honesty, we will be surprised by the number of sectors, including recent technologies, that will show us how much they pollute and damage our planet.
The real winner from all this frenzy is our dear planet.
And that’s always great news!
This article is for informational purposes only, it should not be considered Financial or Legal Advice. Consult a financial professional before making any major financial decisions.
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