Because the headlines pile up about Bitcoin’s calamitous environmental influence, one group of traders and supporters have stepped as much as the plate to defend the world’s largest digital asset with the assistance of a crowdfunded, FUD-fighting documentary film.
First introduced by investor, podcast host, and Bitcoin fanatic Brad Mills on Twitter, the objective of the film is to behave as a “definitive” argument for “why Bitcoin will transition the world to renewable energy faster than governments.”
I discovered the filmmaker (@jamie_jk) to make the definitive brief film on why Bitcoin will transition the world to renewable power sooner than governments.
It’ll solely price $20-30k for an expert mini-doc on BTC power FUD.
— Brad Mills ✍️ (@bradmillscan) Might 14, 2021
Mills’ selection of director is Jamie King, greatest recognized for STEAL THIS FILM — a documentary sequence about BitTorrent and one of many earliest examples of a crowdfunded, free-to-share effort. In an interview with Cointelegraph, King stated that the narrative about Bitcoin’s power consumption pushed him into motion.
“The idea for this new project, which we’re raising funds for right now, came about as a result of the increasing amount of attention being paid to Bitcoin’s energy usage,” King stated. “Obviously this came to a head with Elon’s announcement about not accepting BTC for his cars for the time being — but it’s also a piece of ‘FUD’ we’re seeing repeated with greater and greater intensity.”
Earlier within the week, billionaire Elon Musk Tweeted that his firm Tesla would not settle for Bitcoin for funds — a remark that set off accusations of hypocrisy, however whose contents had been echoed loudly within the mainstream media.
Regardless of Elon’s gripes, specifics about how a lot “dirty” power Bitcoin consumes is tough to calculate, nevertheless, and even estimates based mostly off of Chinese language consumption might solely paint a tough image.
Regardless, King and crew aren’t attempting to argue that Bitcoin is clear, inexperienced tech.
“I think it’s important to acknowledge Bitcoin uses energy. A lot of it. That’s part of its design,” says King. “The question we need to ask is: is it worth it.”
To be clear, I strongly consider in crypto, however it might probably’t drive an enormous enhance in fossil gasoline use, particularly coal
— Elon Musk (@elonmusk) Might 13, 2021
King stated that those that instinctively reply “no” to that query probably haven’t finished their analysis, and that “in a broader social, political and economic context” the case for Bitcoin’s power consumption is self-evident.
Thus far the neighborhood has responded warmly, elevating .5 BTC in simply 48 hours. King additionally notes that whereas Bitcoin’s Lightning Community hasn’t seen the adoption some hoped for, after the undertaking opened as much as Lightning donations small backers started pouring in.
“I guess what we can see is that Lightning is very real for small Bitcoin donations, I’m glad to say,” he joked.
Ultimately, King’s objective isn’t to fling mud again on the FUD-sters, however as a substitute to teach and elevate.
“I don’t just want to counter the idea that this is a ‘waste of energy’, but make something that inspires people about just what an amazing thing Bitcoin is. FUD-busting with a higher purpose!”