The Hostile Media Narratives About Bitcoin’s Environmental Impact Are Total Garbage (ccn.com)
If you’ve been following the news and social media discussion regarding Bitcoin for very long at all you’ve likely seen multiple articles castigating Bitcoin as a harbinger of environmental degradation and destruction.
The way the mainstream media has painted Bitcoin, it’s like one of the four horsemen of the environmental apocalypse.
Did you know that Bitcoin mining uses more electricity than the entire countries of Portugal or Singapore(!)? Or that Bitcoin uses thousands of times more electricity per transaction than a VISA transaction?
If you’ve read very much about Bitcoin in the mainstream media news or cryptocurrency blogosphere, then more likely than not, you are familiar with these tropes.
Many of the media’s smear attacks on Bitcoin report the cryptocurrency’s electricity usage in these inflammatory terms while omitting the electricity usage of Bitcoin’s competitors like gold mining or institutional banking.
People have been using electricity to maintain bank ledgers and process payments for decades now without ushering in an environmental apocalypse as these alarmist articles suggest Bitcoin might.
Cryptocurrency enthusiasts should consider it a good sign that so many media outlets have bashed Bitcoin with a classic propagandistic smear tactic used against many other successful enterprises in world history: It’s destroying the environment!
Original article reduced by: 77%
Read the full article here.
Related story: Bitcoin’s Mining Difficulty Resumes Downtrend (cryptoglobe.com)
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CN [too long; didn’t read]
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