Legacy Media Spreading Lies;Re: Bitcoin Mining Heating Seneca Lake

Well what do we expect from the media, especially when it concerns something like Bitcoin which is poison to its owners’ existence; the latest example has to do with Bitcoin mining and Seneca Lake:

Is New York’s Seneca Lake Too Hot Because Of Bitcoin Mining? We Beg To Differ

Legacy media is back at it. They had to concoct a rival story to counteract the Bitcoin Mining Council’s latest report. And they ran with the apparent rising temperatures of Seneca Lake. At its shores, an energy company is mining Bitcoin and a town is protesting. Or, as NBC News dramatically puts it, they’re using, “the fossil-fuel energy not to keep the lights on in surrounding towns but for the energy-intensive “mining” of bitcoins.”

The thing is, the story doesn’t have a leg to stand on, but we’ll get there.

Natural Gas At Seneca Lake
First, let’s examine the way NBC spreads FUD all over the story:

At Greenidge, the computers operate 24/7, burning through an astounding amount of real energy, and producing real pollution, while collecting virtual currency.
An estimate from the University of Cambridge says global bitcoin miners use more energy in a year than Chile. When the energy comes from fossil fuels, the process can add significantly to carbon emissions.

Of course, they omit that the “astounding amount of real energy” comes from natural gas. And that according to the US Energy Administration, “Burning natural gas for energy results in fewer emissions of nearly all types of air pollutants and carbon dioxide (CO2) than burning coal or petroleum products to produce an equal amount of energy.” And that is natural gas is not consumed, it has to be “flared,” a process that really pollutes and doesn’t produce anything. By “anything,” we mean security and processing power for an anti-censorship, decentralized network that sends and receives value worldwide.

Much later on, NBC tries to sneak the information:

While natural gas-fired plants like Greenidge’s in New York aren’t as problematic as those that use coal, they still generate damaging greenhouse gases

Full article here: https://bitcoinist.com/is-new-yorks-seneca-lake-too-hot-because-of-bitcoin-mining-we-beg-to-differ/

 

Master Asked on July 8, 2021 in Bitcoin.
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