The benefit for the planet may be incalculable by switching to a sound money like Bitcoin from inflationary ‘cheap’ money that incentivizes waste, incessant growth, and profligate consumption.
New Technology Requires New Thinking
Today, most commentators attempt to define Bitcoin using analogies. They compare it to things they’re familiar with like stocks, commodities, or a payment service like PayPal.
Just like the automobile was first described as a horseless carriage, Bitcoin today is presented largely as digital pseudo-money that’s not backed by any government.
Similarly, Bitcoin mining has been heavily criticized in the mainstream media. Headlines like Bitcoin uses more energy than *insert country* are not uncommon; and are regularly rehashed and republished.
Such findings, however, have been debunked time and time again. (Here’s a great article explaining Bitcoin’s energy use.) Meanwhile, similar concerns related to the banking system are deliberately ignored.
But Bitcoin is not like the inflationary…