While bitcoin has been gathering widespread attention with prices touching all-time highs, mainstream pundits have tried to attack the leading crypto asset for its energy consumption. It seems a new ‘bitcoin is bad for the environment’ editorial is published nearly every week by mainstream journalists, tech authors, and climate activists. This week a representative from the crypto company and dedicated mining operation, Bixen explained that it is wrong to assume that bitcoin mining is unsustainable to the global environment.
Climate Activists Love to Attack Bitcoin With Washed Up Energy Arguments from Three Years Ago
Ever since bitcoin (BTC) and a number of other digital assets touched fresh new price highs, the crypto assets have seen mainstream attention. Moreover, a lot of journalists and popular pundits have focused on the energy consumption the Bitcoin network leverages. This has been happening every week since BTC prices have grown hot, and it happened a lot in 2017 as well.
For instance, on March 11, the climate activist, clean tech author and analyst, Ketan Joshi, wrote an editorial that is no different than the slew of unresearched attacks against the Bitcoin network’s electricity consumption.
“Bitcoin has three problems: energy hunger, fossil industry partnerships, and classic libertarian loathing of renewables and climate action,” Joshi tweeted to his 43,000 Twitter followers. “Combined, they mean Bitcoin is a mouth hungry for fossil fuels,” he added. Of course, the editorial barely touched upon renewable energy resources used by a great number of bitcoin miners and attacked fossil fuel firms for something they already do anyway- flare excess natural gas.