HomeUploadUpload DirectHotlinkRandomAbouttheme toggle
Expand

The Fake Environmentalist Attack on Bitcoin

Views:1079
@ReasonVids

By now, you've probably heard the environmentalist knock on bitcoin, including apocalyptic claims that it will use up all of the world's energy and will single-handedly increase global temperatures until the planet is uninhabitable.
------------------
Subscribe to our YouTube channel: https://www.youtube.com/ReasonTV?subconfirmation=1
Like us on Facebook: https://www.facebook.com/Reason.Magazine/
Follow us on Twitter: https://twitter.com/reason

Reason is the planet's leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won't get from legacy media and old left-right opinion magazines.
----------------
"Cryptocurrencies like bitcoin are terrible for the environment," declares Sen. Elizabeth Warren (D-Mass.). "It's an extremely inefficient way of conducting transactions," pronounces former Federal Reserve Chair and current Treasury Secretary Janet Yellen. "It's a way to both hide dirty money and destroy the environment at the same time," says Daily Show host Trevor Noah.

Such environmentalist attacks on bitcoin are best understood as a strategy by economic, media, and political elites to undermine a powerful new form of money that they can't control. Critics distort the basic facts about what's known as bitcoin "mining," the process through which a global network of computers maintain the bitcoin network through computation. Though energy intensive, this process is what makes bitcoin a truly decentralized monetary system. 

Photo Credits: Photo by Bermix Studio on Unsplash; Photo by Matt Palmer on Unsplash; Photo by Patrick Hendry on Unsplash; Imagine China/Newscom; Photo by Matt Palmer on Unsplash; Imagine China/Newscom; Photo by Tim Mossholder on Unsplash; Camilo Freedman/SOPA Images/Si/Newscom; Matt McClain/Pool Xinhua News Agency/Newscom; Camilo Freedman/ZUMAPRESS/Newscom; Photo by Blake Wheeler on Unsplash; MING DE/FEATURECHINA/Newscom; Camilo Freedman/ZUMAPRESS/Newscom; Rodrigo Sura/EFE/Newscom; Kyodo/Newscom; MING DE/FEATURECHINA/Newscom; Photo by Matt Palmer on Unsplash; Rafael Ben-Ari/Chameleons Eye; joe sohm/Joe Sohm/Visions of America/Universal Images Group/Newscom; Rafael Ben-Ari/Chameleons Eye; Jon G. Fuller/VWPics/Newscom; Photo by Raisa Milova on Unsplash; Photo by Sava Bobov on Unsplash; Yuri Smityuk/TASS/Newscom; Monty Rakusen/ZUMAPRESS/Newscom; Mirko Tobias Schäfer, CC BY 2.0, via Wikimedia Commons; Federalreserve, Public domain, via Wikimedia Commons; Ron Adar/M10s/MEGA/Newscom; Beata Zawrzel/ZUMA Press/Newscom; Ingram Publishing/Newscom; Photo by Katie Moum on Unsplash; BugWarp, CC0, via Wikimedia Commons; Beata Zawrzel/ZUMAPRESS/Newscom; Kyodo/Newscom; Camilo Freedman/SOPA Images/Si/Newscom; Beata Zawrzel/ZUMAPRESS/Newscom; Budrul Chukrut/ZUMAPRESS/Newscom; Camilo Freedman/SOPA Images/Si/Newscom; Camilo Freedman/ZUMAPRESS/Newscom; RAFAEL BEN ARI/Rafael Ben Ari/Newscom; imageBROKER/Markus Mainka/Newscoms; Federalreserve, Public domain, via Wikimedia Commons; Human Rights Foundatuon; Niccarter.info; Camilo Freedman/SOPA Images/Si/Newscom; Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0, via Wikimedia Commons; Terry Ballard from Merrick, New York, USA, CC BY 2.0, via Wikimedia Commons

Music credits: Vuelta al Sol, by Tomas Novoa via Artlist.io; "Lyke the Robot," by Out of Flux via Artlist.io

Footage Credit: Jim Epstein and Noor Greene

Produced by Regan Taylor; graphics by Isaac Reese; audio post-production by Ian Keyser

libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
    Thumbnail for Was It a Lab Leak? The Mysterious Origin of COVID-1921:23
    Was It a Lab Leak? The Mysterious Origin of COVID-19
    ReasonVids
    1022 views
    Thumbnail for helicopter fireworks rockets1:00
    helicopter fireworks rockets
    Gviduser
    967 views
    Thumbnail for crikey1:52
    crikey
    bestofupgoat
    230 views
    Thumbnail for Joe Biden's $2 Trillion Green New Deal Is Just a Worn-Out Democratic Jobs Program3:57
    Joe Biden's $2 Trillion Green New Deal Is Just a Worn-Out Democratic Jobs Program
    ReasonVids
    904 views
    Thumbnail for This youtuber is a bit more based than the others1:00
    This youtuber is a bit more based than the others
    bestofupgoat
    187 views
    Thumbnail for How America's Welfare System Hurts the People It's Supposed to Help18:22
    How America's Welfare System Hurts the People It's Supposed to Help
    ReasonVids
    1071 views
    Thumbnail for Titanic 3D3:06:49
    Titanic 3D
    x0x7
    391 views
    Thumbnail for FLASHBACK: Michael Murphy and G. Edward Griffin on Stratospheric Aerosol Injection (2010)36:32
    FLASHBACK: Michael Murphy and G. Edward Griffin on Stratospheric Aerosol Injection (2010)
    corbettreport_uo
    750 views
    Thumbnail for Anti-Bullying Bill Could Jail People Who Criticize Politicians (Nanny of the Month, June '13)1:42
    Anti-Bullying Bill Could Jail People Who Criticize Politicians (Nanny of the Month, June '13)
    ReasonVids
    894 views
    Thumbnail for Summer Music Mix 2023 🎶 Best Of Vocals Deep House 🎶 David Guetta, Rema, Alan Walker, Miley Cyrus #07 | Deep Fresh1:00
    Summer Music Mix 2023 🎶 Best Of Vocals Deep House 🎶 David Guetta, Rema, Alan Walker, Miley Cyrus #07 | Deep Fresh
    invidious
    333 views
    Thumbnail for If We Do Nothing: Hot Times in the Big City4:00
    If We Do Nothing: Hot Times in the Big City
    AmericanRenaissance
    885 views
    Thumbnail for Entertainment writers under the Writers Guild of America union begin their strike today | CBS News4:57
    Entertainment writers under the Writers Guild of America union begin their strike today | CBS News
    invidious
    531 views
    Thumbnail for The Victims of the Eviction Moratorium11:37
    The Victims of the Eviction Moratorium
    ReasonVids
    895 views
    Thumbnail for Humans get mad at the weirdest stuff | Jeaney Collects0:40
    Humans get mad at the weirdest stuff | Jeaney Collects
    invidious
    474 views
    Thumbnail for How Was the Death Star Kept a Secret? | Vader's Order0:41
    How Was the Death Star Kept a Secret? | Vader's Order
    invidious
    55 views
    Thumbnail for 開幕ランク!プレデター目指して・・・!!w あーもー しょうさん | LEOの遊び場【山田涼介】6:25:55
    開幕ランク!プレデター目指して・・・!!w あーもー しょうさん | LEOの遊び場【山田涼介】
    invidious
    36 views
    Thumbnail for Gloria Alvarez Is Fighting Socialism in Latin America18:22
    Gloria Alvarez Is Fighting Socialism in Latin America
    ReasonVids
    993 views
    Thumbnail for How To Make a non-contact AC line checker | INTION0:59
    How To Make a non-contact AC line checker | INTION
    invidious
    571 views
    Thumbnail for ELO - Don't Bring Me Down6:13
    ELO - Don't Bring Me Down
    Ivan
    1658 views
    Thumbnail for Who Wants to Ban Sex Toys, Chocolate Milk, and Golf Lessons?! (Nanny of the Month, 5-14)1:34
    Who Wants to Ban Sex Toys, Chocolate Milk, and Golf Lessons?! (Nanny of the Month, 5-14)
    ReasonVids
    818 views
    Thumbnail for Katie Couric Responds to Deceptive Editing Charges in Gun Documentary0:31
    Katie Couric Responds to Deceptive Editing Charges in Gun Documentary
    ReasonVids
    862 views
    Thumbnail for Anne Frank's Stepsister and Auschwitz Survivor Says The Photographs of Auschwitz are Fake7:45
    Anne Frank's Stepsister and Auschwitz Survivor Says The Photographs of Auschwitz are Fake
    bestofpoal
    606 views
    Thumbnail for Impossible Foods: Capitalism is The Most Powerful Lever to Fight Climate Change8:46
    Impossible Foods: Capitalism is The Most Powerful Lever to Fight Climate Change
    ReasonVids
    853 views
    Thumbnail for How bad can it get11:45
    How bad can it get
    murdochmurdoch
    1211 views
    Thumbnail for Stossel: Private School Success Around the World7:28
    Stossel: Private School Success Around the World
    ReasonVids
    911 views

points

Permalink
Reply
libertarian
,
reason magazine
,
reason.com
,
reason.tv
,
reasontv
TOS  •  Add Keywords  •  Donate  •   Analytics  •   DMCA  •   Puzzle