BREAKDOWN: What Happened at Congress’ Bitcoin Energy Hearing?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 22 January 2022
⏱️ 14 minutes
🧾️ Download transcript
Summary
Was it FUD or was progress made?
This episode is sponsored by Nexo, Abra and FTX US.
This week on the “Weekly Recap,” NLW breaks down the House hearing on energy in the crypto industry. He looks at problems with the advance memo and provides refutations of some of the misunderstandings.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Time” by OBOY. Image credit: Nuthawut Somsuk/iStock/Getty Images Plus, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:08.9 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:14.9 | The breakdown is sponsored by nexo.io, Abra, and FtX, and produced and distributed by CoinDesk. |
| 0:22.6 | What's going on, guys? It is Saturday, January 22nd, and that means it's time for the weekly |
| 0:28.4 | recap. And this week, we are getting into the House Energy and Commerce Committee's |
| 0:33.6 | hearing on cleaning up cryptocurrency, the energy impacts of blockchains. |
| 0:38.8 | Before that, however, if you're enjoying the breakdown, go subscribe to it, give it five stars, |
| 0:43.7 | leave a review, or join the Discord to get into the conversation. |
| 0:48.2 | We've got a ton of smart people over there. |
| 0:49.8 | You can find it at the link in the show notes or by going to bit.L.L.Y slash breakdown pod. |
| 0:56.1 | Finally, standard disclosure, in addition to them being a sponsor, I also work with FTX. |
| 1:01.9 | So today we are talking about the House Energy and Commerce Committee's cleaning up |
| 1:05.6 | cryptocurrency energy hearing, and we're going to separate it into two parts. |
| 1:09.1 | What we were preparing for, based on the |
| 1:12.0 | house memo that was released and the prepared testimony of witnesses, and then what happened? |
| 1:17.7 | I'm going to be pointing to Nick Carter a lot. He was not one of the witnesses, but I think he was |
| 1:22.4 | the voice of the Bitcoin community on this. A couple days ago, he tweeted, based on the |
| 1:27.0 | witnesses selected in the |
| 1:28.1 | published testimony, I won't be tuning into the hearing. There's an important debate to be had on |
| 1:32.2 | these issues, but it won't be happening in Congress tomorrow. None of the sizable U.S.-based |
| 1:36.5 | mining forms, core science, riot, marathon, Atlas, Stronghold, Galaxy, Foundry were invited to participate. |
| 1:42.2 | They would have happily taken part, telling that the committee |
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