Is the Narrative Around ESG and Bitcoin Mining Shifting?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 4 February 2023

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoiners are no stranger to environmental FUD. NLW argues, however, that there are more and more examples of mainstream media telling the story of bitcoin mining’s potential for positive environmental impact. What’s more, some of that thinking is finding the way into state government actions. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com. - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Gandee Vasan/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.1	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:15.3	The breakdown is produced and distributed by CoinDesk.
0:20.4	What's going on, guys?
0:21.6	It is Friday, February 3rd, and today we are asking whether the narrative around ESG and
0:27.2	Bitcoin mining is shifting.
0:29.7	Before we get into that, however, if you are enjoying the breakdown, please go subscribe
0:32.7	to it, give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:36.7	come join us on the Breakers Discord. You can find a link in the show notes or go to bit.ly slash breakdown pod.
0:42.5	All right, guys, this is a topic that I am excited about, because as you well know, the environmental
0:48.1	impact of Bitcoin mining has long been one of the bully cudgels used by people who don't like
0:52.9	Bitcoin to justify why it shouldn't be
0:55.1	allowed to exist. Look at the environmental costs, they say. How could this thing possibly be worth
1:01.1	that? Now, of course, there are a million counter-arguments to this. There is the free market
1:06.1	argument that says this set of actors are willing to pay to use the energy. Who are we to stop them?
1:10.5	There is the slippery slope argument of where does it end when we start making value judgments
1:14.3	that one use of energy is better than another, what other types of activities might be imperiled.
1:19.1	There are the folks who would point to the social and governance upsides of Bitcoin
1:22.4	as countervailing other environmental costs.
1:25.6	And then there are those who argue that Bitcoin mining actually has some pretty interesting potential positive impacts on environmental costs. And then there are those who argue that Bitcoin mining actually has
1:28.2	some pretty interesting potential positive impacts on environmental goals for those who are willing
1:33.3	to go beyond the cheap headlines and easy assumptions. Still, those sorts of arguments are all too
	...

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