Nic Carter And Others On Panel At Bitcoin 2022 On Bitcoin’s Energy Criticism
Nic Carter joined several others on a panel at Bitcoin 2022 last week and really hit home some key issues regarding Bitcoin’s energy criticism:
YOU ARE THE CARBON THEY WANT TO REDUCE
Nic Carter, partner at Castle Island Ventures and perhaps the best known defender of Bitcoin’s energy usage, was joined by founder of Core Scientific Darin Feinstein; Stephen Barbour, president of Upstream Data Inc.; Head of Mining at Galaxy Digital Amanda Fabiano; and MacKenzie Sigalos, a CNBC technology reporter.
The panel started with host Sigalos explaining, “The dynamic that is fundamentally misunderstood about bitcoin mining is that energy consumption is not tied to carbon emissions.”
Feinstein explained how information has been coming out that disparages Bitcoin mining, referencing two articles.
“The articles were written by WEF and Newsweek,” Feinstein explained. “Coincidentally, [they] came up with the same math, and the math was, by 2020, the Bitcoin network will consume all of the world’s energy.”
This turned out to not be true.