2minutebitcoin on Nostr: Green energy is largely a political narrative - look at what people do, not what they ...

Green energy is largely a political narrative - look at what people do, not what they say.

Grandstanding and social media outrage gets attention, but has shown to do nothing.

[60% of the EU's renewable energy](https://energy.ec.europa.eu/topics/renewable-energy/bioenergy/biomass_en) is biomass - largely trees [imported from the U.S](https://www.nationalgeographic.com/environment/article/europe-burns-controversial-renewable-energy-trees-from-us). Yes, burning firewood is green apparently

The problem with renewables is it's not economically viable at scale. We waste more energy than we consume.
- 70% energy waste globally.
- 59% lost in generation process.

Energy producers can cut production costs by mining with curtailed energy waste. Not only does it make renewables economically viable, it allows energy producers to further invest in and expand their operations.

Here is one example where [Bitcoin mining saved Mechanicville hydroelectric plant, the oldest renewable energy facility in the world](https://www.timesunion.com/news/article/Mechanicville-hydro-plant-gets-new-life-16299115.php#photo-21206639)

And with regards to methane and flaring - methane is over 80 times more potent than CO2.
1. It's not economically viable to install flaring - most don't do it unless regulation (good luck to get e.g Africa to prevent that)
2. Even when flared, some methane does escape.

In the US alone, there are 1404 landfills without any methane capture or flaring infrastructure.

Bitcoin mining not only makes methane capture economically viable but 100% of methane is combusted and nothing vented into atmosphere.

Here is one example - [Exxon is mining bitcoin in North Dakota as part of its plan to slash emissions](https://www.cnbc.com/2022/03/26/exxon-mining-bitcoin-with-crusoe-energy-in-north-dakota-bakken-region.html)

If you want to get people to do something, all you gotta do is make it profitable to do. If it's not profitable, it's just a useless political narrative. Same old grandstanding and social media outrage while nothing gets done.

-- an excerpt from the Stone Ridge 2020 Shareholder Letter, its 2-minute version can be found here https://www.2minutebitcoin.org/blog/stone-ridge-2020-shareholder-letter