Bitcoin is paying people to use vast amounts of electricity (Proof of Work) which is causing a rise in CO2 emissions. Environmentalists have been aware of the bitcoin footprint problem since 2017, yet we haven’t done much about it.
While there are some bitcoin minors using some renewable energy, the total ecological footprint of bitcoin has only gotten worse as the price of btc has risen.
Many in the bitcoin community think it’s the large amount of energy consumed in the mining process that gives btc its value, but energy use follows price, not the other way around. Bitcoin’s high price is from demand outstripping supply due, in large part, to network synergies (AKA The Network Effect which explains why the power of a group grows EXPONENTIALLY rather than linearly).
It’s time for ENVIRONMENTALISTS TO UNITE and use the Network Effect to benefit the planet by turning bitcoin upside down! This won’t be easy, but I have a plan that will succeed in a big way if we can unite enough human energy!