1326: Paying for Bitcoin with carbon / Ketan Joshi

This Is Hell!

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4.9 • 937 Ratings

🗓️ 22 April 2021

⏱️ 94 minutes

🔗️ Recording | iTunes | RSS

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Summary

Writer Ketan Joshi on his article "Bitcoin is a mouth hungry for fossil fuels" and in a Moment of Truth, Jeff Dorchen wants to help you design your own dementia. https://ketanjoshi.co/2021/03/11/bitcoin-is-a-mouth-hungry-for-fossil-fuels/

Transcript

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0:00.0	Boer tepas
0:02.0	get tepas
0:05.0	a tepas You're welcome to be. You're welcome to be. Oh, you're good. Oh, you know.
0:24.0	Maybe.
0:25.0	You know?
0:27.0	You know?
0:28.0	You know you're welcome now. This is hell.
0:37.0	is hell.
0:40.0	Another end of the world is possible. This is hell and the new end of the world we are
0:51.0	discovering and discussing today is Bitcoin and its demand
0:54.9	for fossil fuel needed to constantly be generating new numbers which is at the
0:59.2	heart of how it works.
1:02.7	I guess Bitcoin by now likely, I guess that's how it works, I mean, you know, I'm not
1:07.7	too sure.
1:08.7	Anyway, Bitcoin by now likely consumes more energy than the entire continent of Australia.
1:13.6	The amount of emissions it creates erases the emissions reduction made by the United States
1:17.2	over the last few years.
1:18.2	And unlike companies like Google, who are zero emissions producers, Bitcoin seeks out the cheapest fuels to consume and with renewables having such success,
1:27.0	that means burning more fossil fuels. They've even started running cover for the fracking industry
1:32.0	by legitimizing more fracking through
1:33.6	Bitcoin's plan to use waste fuels for their computing, which in turn creates a monetized
1:39.4	market for waste fuels encouraging the creation of more climate change causing burning of
	...

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