๐๐ฏ ๐ฆ๐น๐ค๐ฆ๐ณ๐ฑ๐ต ๐ง๐ณ๐ฐ๐ฎ ๐ต๐ฉ๐ฆ ๐ต๐ธ๐ฆ๐ฏ๐ต๐ช๐ฆ๐ต๐ฉ ๐ค๐ฉ๐ข๐ฑ๐ต๐ฆ๐ณ ๐ฐ๐ง โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, ๐ต๐ฉ๐ฆ ๐ธ๐ฐ๐ณ๐ญ๐ฅโ๐ด ๐ง๐ช๐ณ๐ด๐ต #Ai-๐ฆ๐ฏ๐ฉ๐ข๐ฏ๐ค๐ฆ๐ฅ #Bitcoin ๐ฃ๐ฐ๐ฐ๐ฌ.
We've all heard the hysteria that "๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐ช๐ด ๐จ๐ฐ๐ช๐ฏ๐จ ๐ต๐ฐ ๐ฃ๐ฐ๐ช๐ญ ๐ต๐ฉ๐ฆ ๐ฐ๐ค๐ฆ๐ข๐ฏ๐ด!" But how true is that really? In this chapter, Excellion (npub1excโฆn72a), TomerStrolight (npub1mz7โฆtl8g), and TheGuySwann (npub1h8nโฆrpev) clear up this FUD for all the new Bitcoiners, and anyone who might think that Bitcoin is anything but ๐ฏ๐ฒ๐ป๐ฒ๐ณ๐ถ๐ฐ๐ถ๐ฎ๐น to the environment.
Below is Tomer Strolightโs answer, as written in โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ:
๐ง๐ผ๐บ๐ฒ๐ฟ ๐ฆ๐๐ฟ๐ผ๐น๐ถ๐ด๐ต๐โ๐ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
Bitcoin is sound money that everyone in the world can access. Bitcoin uses energy to keep its past records from being changed. All the energy used in Bitcoin adds to this security.
Attacking Bitcoinโs ledger requires mustering more energy than is being used to protect it. To undo a Bitcoin transaction requires amassing more energy in a short time than has been used to operate bitcoin since the time that transaction was first confirmed. Thus Bitcoinโs energy use is a very real protection against any attempts to undo any of its transactions.
The value of having sound money represents an incredibly valuable leap forward that justifies energy use, and that actually saves a lot of energy that is currently wasted under unsound, fiat money.
Under the fiat standard, nobody has access to sound money. Vast amounts of energy then flow into trying to avert the negative consequences of this unsound fiat money. For one, people who do have money are forced to speculate on investments in stocks, bonds, real estate, derivatives, and other instruments that are themselves volatile and unpredictable to try to preserve the purchasing power of their savings. Even more people suffer from high inflation and hyperinflation.
There are entire industries that divert tremendous energy into the problems caused by fiat. As but a single example, housing is โfinancializedโ as a speculative investment and store-of-value, leaving many priced out of the market and unable to afford homeownership. Consider the energy that goes into financing, speculating on, and constructing properties that remain unoccupied all over the world, and youโll see but a sliver of the wasted energy that unsound money consumes.
Sound money does require energy use, but so too does unsound money. Sound money, however, is a far better and more efficient use of energy because it is rational and aligned with long-term capital formation and wealth creation.
Tomer Strolight has been involved in Bitcoin since 2013 and has been writing publicly under his name about it since 2021.
He is the Editor-in-Chief at Swan.com, a leading Bitcoin onramp.
He has also written and narrated the short Bitcoin film ๐๐ช๐ต๐ค๐ฐ๐ช๐ฏ ๐๐ด ๐๐ฆ๐ฏ๐ฆ๐ณ๐ข๐ต๐ช๐ฐ๐ฏ๐ข๐ญ ๐๐ฆ๐ข๐ญ๐ต๐ฉ (available on YouTube).
His articles appear on Bitcoin Magazine, Swan.com/signal, Citadel21.com, and more.
Preorder your copy of โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, and ๐๐ฎ๐๐ฒ ๐๐ฝ ๐๐ผ ๐ฒ๐ฌ%, by contributing to our geyser (npub1kmwโฆxqk9) initiative:
https://geyser.fund/project/spiritofsatoshi