Bitcoin Forum

Philosopher and environmentalist Troy Cross has arisen as one of the most prominent scholars making the case that bitcoin mining has certain special properties which make it ideally suited to powering the development of renewable energies.

Check out his interview on the Futurati Podcast (https://www.youtube.com/watch?v=KCmfogfX52Q), where he discusses his radical proposals for new financial instruments that foster the 'greening' of bitcoin mining.

So what's in new here? Everyone know that bitcoin mining is pretty good with the alternative of going green with renewable energy source, what is the important message Troy Cross is trying to pass or is it the usual thing we already know which is the lrice of beans and rice in the market, at least let's try create topics that are insightful with new thought, you may only wanted to attract traffic on your site through this.

If you want to discuss, write here the most important ideas. I don't go to watch random youtube movies only for you to get more hits.


I don't expect anything new to be said there. Mining Bitcoin is just a tiny fraction of human activities that use electricity.
For real changes towards helping this planet big (and costly) steps must be made and nobody is willing to make them, hence they are diverting mass media's eyes towards bitcoin mining.

I believe that’s what Tesla’s agenda is! To make the environment more happier by reducing pollution with the help of electric vehicles. At least that’s what it looks like with their behaviour.

Because they were so clear when they became unhappy with the bitcoin mining and its greenhouse effects due to higher electrical energy usage. That’s why they switched to DOGE, remember?

I think bitcoin mining is not pushing anything towards greener power house and stuff. Its all about making money through big mining farms.

Yes there are subsidies and few great examples are trying to improve the mining operations but as whole I believe that % is too less.

Troy Cross is a philosopher that recently joined the twitter cryptocurrency community and know little about bitcoin, though, he claims to know about bitcoin mining but he skipped the first question about the conception of bitcoin mining by saying; they are different meaning to conception and he attended a graduate school where the meaning of conception was the principal topic for a course. The second question he attempted was about the energy consumption of bitcoin he noted that dryers in the USA consume more energy than bitcoin and so on. But, one thing, he got wrong was the bitcoin market capitalization, I don't know when this podcast was recorded, he said the market cap is below a trillion but, its now a trillion dollar as of today. The podcast is long, and the philosopher uses philosophy to answer questions regarding bitcoin something that doesn't interest me.


https://i.imgur.com/tfbjhdF.jpg

Tesla as with majority of media companies found it profiting to push the agenda that Bitcoin damages the environment and consumes more electricity that Wakanda or some other bs.
This is not a reflection of the reality at all.

Reports from the last couple of years actually show that Bitcoin mining is majorly consuming green energy. Here's a report you can read through to get more information - https://coinshares.com/research/bitcoin-mining-network-december-2019

The report does not talk about great examples, but the vast majority being environmentally friendly.

The idea that Bitcoin mining would make renewable energy more attractive is not new, it started floating around the same time when it became clear that Bitcoin's energy use is rapidly increasing and already became noticeable on a global scale. So it's already time to show the real world examples of how Bitcoin helps renewables. Where are they?

We don't hear any to be honest. The only thing I remember is that some of the heat produces by bitcoin mining was that it is used as somewhat of heater. But this was when bitcoin can be mine at home and that the hardware is not that expensive. So I doubt that we will hear someone doing solo mining at the basement of his sound as then uses the heat or at least repurposing it. Or if there is a huge bitcoin mining near residence, perhaps they can do that as well specially in cold season.

Probably trying to build a crypto audience and get some sponsors since a Philosophy degree pays shit.

As for the development of renewable energy, Bitcoin mining is one of many thousand use cases for energy. And if you rank them all according to their capital then Bitcoin mining won't even be in top 1000. Emphasis on mining, as his argument involves around it and that's the only part where bitcoin required a substantial energy to function.

Like I have already said, Bitcoin mining is just another use case. Widespread use of renewable and passive energy requires adoption from an entire sector to be of any effect(economically and environmentally).

https://www.unep.org/interactive/six-sector-solution-climate-change/

Another thing, before we start blaming how people use their electricity(like for mining bitcoins), maybe we should focus on how that electricity is produced  ;)

Maybe this philosopher needs to attend middle school again lol

Bitcoin mining is using energy and emits carbon dioxide to the air. How could it then solve climate change? On the contrary, just like many human activities, Bitcoin mining is actually contributing to climate change. And even if Bitcoin mining shifts entirely to the use of green energy it doesn't mean that it stops from emitting carbon dioxide. Bitcoin mining will always leave carbon footprint.

I'm afraid there's really no alternative story to this. It is futile to counter it as if Bitcoin solves climate change. That would be ridiculous. Instead of creating another story, let's probably focus in explaining why Bitcoin needs to consume energy.

Impactful, past research has shown that Bitcoin mining emissions could be as high as 63 megatons of carbon dioxide per year

How can you all be drinking the same fantasy juice, haha. There is no proven solution to reverse climate change, it is all theoretical (not to mention will take decades to prove). The only thing that seems plausible now is to slow it down, and that is about using less, not more.

Bitcoin may not be the carbon spewing demon people accuse it of, but it is not the magic pill that will unsink the Pacifics... Among other things.

I don't have the time now to check out the full podcast, so I am kinda confused, is it related to mining being done on renewables, or that somehow BTC mining will help renewables get pushed into more adoption? The second one is highly unlikely, BTC mining is such a small percentage of energy consumption in total that it will not push change for more renewable energy. As for mining switching to renewable energy, that makes sense, but it will do nothing for global climate change. We tend to forget that, in the grand scheme of things, crypto is still really down at the bottom of the list.

Renewable energy is not perfectly carbon netural. Renewable energy is better than traditional fossil fuel because it incurs less carbon footprint than those but it doesn't mean that it doesn't incur any at all. Building resources specifically to cater to those operations will inevitably result in even more pollution than not having it at all. This is a rather weak argument because the entire profits of Bitcoin mining cannot possibly impact the development of renewable energy to a noticeable extent.

Besides, miners gravitate to cheaper energy. If coal is cheaper than renewable energy, they will use coal or vice versa. All of the power plants have limited capacity and it would actually make far more sense to give those to the locals rather than for Bitcoin mining operations.

when power companies create a new power plant(renewable) they build not just to meet todays demand but the demand of future decades.
however that future demand is not used on day one. meaning power companies are not getting a full potential of income.
however by regions getting new business to move into the region of the new power plant. it can then fill the spare capacity, which then pays the power company more per year, which then (should) convert that extra income to then reinvest into transitioning other regions to renewable decades sooner.

so incentivizing asic farms of 1000asics move to a region in a couple months of invitation, knowing 1 asic is the equivalent to 2 new homes electric utility. a power company can get as much as 2000 new homes equivalent bill payments without having to wait decades for a region to actually build and house 2000 new families
and when real estate later on demands that power, the region can ask the asic farm to move out by not renewing their electric contracts or de-incentivise them from preferring to stay in the area. yep asic farms are more mobile than real estate

...
alot of people know that 'water cooling' asics cause the water to raise to very high temperatures
this can be used to heat homes or even used to 'boil' sea water to desalinate it as part of a process that can be used for many things.
lowering the cost of desalinating water then allows more water utility
..
investors that buy land to mine for rare minerals. which requires deforesting thousands of acres of land and ruining the 'topsoil' which makes land infertile after the activity, is bad for the environment.
however by investors 'for profit' instead investing in bitcoin. can still earn profit without destroying as much physical land

Some said Bitcoin mining would ruin evoirnment, while others said it can prevent the environment from being ruined. Take climate change for an example, by using methane produced from landfills and the oil field that would otherwise be flared, bitcoin mining can help reduce 0.15°C of global warming. By using methane produced from landfills and the oil field that would otherwise be flared, bitcoin mining can help reduce 0.15°C of global warming.But slove it? Don't think so. It's like the difference between "try to" and "manage to". Bitcoin mining can ease climate change but not solve it.

Well, Tesla only cares about profit. I guess you could say that Elon is trying to break the barriers, and become a pioneer in multiple industries, but ultimately I don't think they actually care about climate change as much as they let on. For example, he dropped Bitcoin simply because of the news surrounding it with climate change, yet he knows himself there's multiple industries that are much worse, but he dropped it like a sack of rocks.

Why? Because he wants to keep his green looking reputation when it comes to Tesla. That's the priority, not the truth. He'll continue to do what's best to sell his cars.

actually the decision was not about that.

when inflation happens businesses know that the price of real world parts/products will increase in X months. so financially if they are sitting on a huge next egg of value. its savvi business to use that value to hoard parts while its cheap. to then not need to buy parts later.
then using the next years income to not need parts, they can re invest that back into assets that hedge against inflation.

and now you know why many businesses sold some coin. to pre-buy real life products before inflation hits those real life product prices.

---

as for tesla's business plan
cars are big business. everyone has and needs a car.
there is no point getting into the fossil fuel car business as thats short sighted business doomed to die in a decade or so. so wasting billions to start up a business and factories in fossil based is a waste of money.
renewable is the future so starting an electric company is future proofing the business.
also. sidenode by developing solar, boring, and tesla for the earth transport industry.. is also actually R&D for its space industry
yep. moon buggies, drilling tunnels and solar is the tech space mining requires. so all the investment in the earth transport industry is R&D investment in the space projects, so again double future proof the business viability in the 15-100 year future
you can spot this because of all the tech cross over between his earth projects and space projects. and dare i say it soon he will get into the water collection/desalination projects too, advertised as 'green project' but reality is to gather R&D funds from government grants for its space industry plans

It does not need philosophy, but rather energy, regardless of its source. Therefore, as soon as you provide a clean energy source, Bitcoin mining will not say I do not want fossil fuel, just like what cars or trains need.

The issue of energy consumption as a whole is linked to the media exaggeration rather than a real problem.

Do not forget that people paying more and more exorbitant bills to purchase electricity/gas makes the expenditure of electricity under scrutiny.

I'm not sure if bitcoin mining can have a big impact on the development and increasement of renewable sources of energy. In my opinion bitcoin miners' only concern is to run their farms paying the cheapest costs as possible with energy and structure. If it is going to be fossil or renewable energy it really doesn't matter for them.

Bitcoin miners can benefit from green energy advancements without any doubts, but bitcoin mining is unlikely to be benefiting or influencing green energy sector.

its always been to side of coin the other said can solve climate change the other it can't, in my opinion bitcoin it still major breakthrough and I do belive it can solve many problem with blockchain itself. for now maybe not 100% bitcoin mining using green energy that always been debate but time will tell

Tesla wants a regular family who can't even pay thier rent monthly to buy a Tesla car. We are even now confused about whether to put food on the table or buy gas.


You can't expect everyone will really listen to this whole hour of podcast, maybe the timeline, where to listen to it, will be good to make the discussion easier. I assume you are Trent Fowler based on your username?

Climate change issues somehow are seen by leaders to be cloaked by political motives this is why counterparts on the otherside of the world don't listen. We outsource our productions to China so they can massively produce a lot of things while we can sit waiting for them to do the job and then later we accuse them of destroying the environment.

Trees aren't the biggest contributor in the fight against climate change, that's what they want you to think while they pollute the oceans killing the algae that's making the most work, trees are more on the creation of habitats for insects and animals. And I don't think that bitcoin mining switching to green energy will be a big help too because there's still the coal industry to worry about and they're a juggernaut that's the biggest contributor in climate change. We don't have to worry too much about it though, in bigger picture, the humans will adapt or die and the world won't care because for the Earth, it's just a normal process, we just accelerated it.

Many certain parties say that bitcoin mining can change the climate and damage the environment, in my personal opinion such accusations are unreasonable I believe all these accusations are just a hoax from those who are not pro against bitcoin, they accuse bitcoin to divert the issue, Bitcoin mining is actually not totally damaging to the environment, in fact bitcoin mining is known to prevent bad climate change, avoiding global warming by 0.15 degrees Celsius.

you are right, the release of carbon into the environment cannot be prevented no matter what kind of energy is used to mine bitcoin

bitcoin has become an industry and bitcoin mining like other industries needs energy and emits emissions, we should accept it,

the topics swirling around bitcoin causing climate change are just bullshit stories from bitcoin haters, why don't they mention other industries

Methane gas has more impact on global warming than carbon dia-oxide. Climate change issue was back created before bitcoin came into existence. And even now the oil companies are not able burn methane completely before releasing it in the air. This methane can be used for bitcoin mining that could reduce the methane emission by 23%. Many miner have already started using methane for mining,

All the things they are saying about bitcoin causing serious climate change are accusations because they have no way to stifle bitcoin, they are looking to put all the blame on bitcoin.

But you say bitcoin mining is not harmful to the environment is not entirely true, bitcoin mining requires a lot of energy and emissions are inevitable, that also contribute to environmental pollution. But what bitcoin causes is insignificant compared to other industries, they are exaggerating.

Bitcoin mining will not solve the climate problem. Not only Bitcoin, but humanity has yet to find a complete solution to the climate. To be sure, mining does have an impact on the climate to some extent, but only with a change rather than a solution.

Well! If they really meant it, why not? They can counter those malicious allegations of the people that are hostile to bitcoins and the crypto miners. If it really works, then they should consider making it real. After all, we will gonna have lots of miners in the future because we are heading into the new era of the financial system where cryptocurrencies will become known to the world and they will gonna use them as the means of payment for everything. right now, they need to focus to make the crypto mines environmental friendly, so that they won't create problems in the future anymore.

I also think that Bitcoin mining doesn't have as big an impact on the environment as mills and cars do. But If someone thinks a little more deeply, then their matter will be different.  For example, the demand for the equipment you need to use for Bitcoin mining is increasing day by day.  And we also know that mining requires a fair amount of electricity.  And electricity is produced by burning fossil fuels.  So indirectly it has an impact according to many.  But it can be easily eliminated by taking solar energy as an alternative.  And the world is now shifting  from fossil fuels to renewable energy.

One of the things where government and media do targets out the main issue about bitcoin mining is about environmental concern which we arent that blind that this one had been keeping pushed through to give
some blame and now we are talking about solving climate change? Dont know on where they do get that overall idea but it is really just totally opposing on whats the current trend as of this moment.
I dont see something relevant if we do talk about bitcoin mining and climate change issue but the fact people are targeting through it and throw it as a main issue without even
trying to look back on other  things which do contribute the most.

I've read about this. even now bitcoin mining with environmentally friendly or renewable energy has been widely applied. so this is nothing new. and it is for this reason that bitcoin mining is in no way detrimental to the climate. But sometimes the news always corners bitcoin. make him a scapegoat.

I fully agree with your opinion. It even sounds silly that bitcoin mining can somehow solve the problem of current climate change. Mining consumes energy. Any. This releases heat and carbon dioxide. These are just the main sources of current climate change as a result of human activity. Another thing is how mining is harmful to the environment. There are different opinions about this, but we do not discuss it here.

Bitcoin is already green enough, bitcoin mining is probably one of the greenest industries all around the world, the only reason many people believe that is not the case is because there has been a campaign against bitcoin in order to create this false image.

And many people believe it simply because they are not aware of the reality and they could not care less about trying to actually investigate on their own a little bit about the topic, also this is a little bit off-topic but at least post a small summary of the ideas and proposals that are in that video, because very few people are going to go through the trouble of actually watching that video just because you posted the link.

I'll admit that the podcast the op linked was way too long for me, though, but I found another video (https://www.youtube.com/watch?v=Ew0oUj1EYKU) with Troy Cross which is great because it has time stamps, so one can just listen the Environmental impact 2.5 minute part, Bitcoin mining 9 minutes from 26 to 34.
The main argument there is on the 31st minute. He argues that the move to a renewable energy system toward which the world is moving anyway produces excessive energy that gets wasted because your system isn't adjustable (the energy gets produced based on conditions like sun or wind, not based on the needs), and that Bitcoin mining, as a buyer of that energy, could help finance the shift (because then there's the monetization of the energy that otherwise would've been wasted). So if done smart, it could both make mining eco-friendly (and he says Bitcoin mining already is largely based on renewable energy), as well as push the world toward adopting renewable energy more.

I didn't seem to see anything new in what he said, after all, it was just a proposal. Apart from my knowledge, his knowledge about bitcoin is not that wide yet. Ever since bitcoin mining started in this industry, most people know that it can't help our environment due to its part of the tehcnology not the nature anyway. Then, as far as I know also that He was included in the crypto community recently only, were one of the social media platforms of Twitter as far as I know?

There are a lot ideas out there to make mining more Eco-friendly. Methane capture and then burning it off of land fills, farms, bio-waste and oil wells. Using waste heat to grow crops in a greenhouse, heat up bio-waste material to speed up methane production, heat up skyscrapers, water heaters (coil around the water heaters metal inlet pipe so the water heater doesn't have to work as hard) the list goes on.

There is a new diesel fuel saver that you can build with paper, scissors and tape. https://bitcointalk.org/index.php?topic=5403404.0
I have already tried it. It should offset all of Bitcoins energy usage by quite a lot, if the whole world starts using it? 

The implication of "climate change" is presented as a fact without any evidence.    Which has never been provided by anyone and all computer models have been 100% incorrect so far.  As well as all predictions. 

Not to mention that the provided culprit doesn't even make the top 3 greenhouse gases.   

So any conversation you have about such a subject is probably going to be rabbit-holes.

Unfortunately everyone sees sort of "right" to talk about whatever they want and we are not trying to censor them but when you have some sort of followers, that means whatever you say is important. That is what people are forgetting about, it is not about censorship, it is about responsibility.

Like for example, if Elon went out and said "I am going to sell all of my shares in Tesla tomorrow", the stock price would drop, and he could buy them from low and tweet "lol was kidding, thanks suckers!" and that would be illegal right? Which means "saying" something is illegal in some capacity already, it is not censorship, it is regulation, same should be used for influencers as well.

Greenhouse energy has proven to have a multi-dimensional advantage as it thrives to solve the problem of environmental impact and energy consumption of Bitcoin mining, converting the heat and other element to grow agricultural crops and flowers, have been one of its many benefit that is already generated from bitcoin green energy.

There have been many discussions on this topic and a lot of development has been made from the bitcoin green energy project, if you look around the forum you will find some threads that have discussions in this regard, and points are already getting established.

Crypto mining is actually doing more harm than good, hence the urgent need to get crypto mining only done with renewable energy. So, Bitcoin mining could never solve the climate change. Moreover, its one of the many industries contributing to it.

Unfortunately, Bitcoin mining is very energy intensive and many companies are still using the normal plug to the wall to mine it. This alone accounts for a lot of carbon dioxide being released onto the environment, so we actually need something to turn this around.

converting cars to electric is not the climate solution

take emissions and number of vehicles
emissions
U S A   5,011,686,600   
India   2,533,638,100

cars
U S A   286.9 million
India   295.8 million

if cars were the main producers.. the how come indias higher car usage is not producing more emissions.

yes power plants build generators to cop with a growth demand of 40 years in the future, meaning

if a region has a 64gw demand today they calculate that in 50 years at a 1% growth factor per year would be 100GW demand in 50 years

so in year 1 thats a 36% of potential income not being bought/used today

so accelerating electric use, gives power plants 34% more today to then use that money to accelerate upgrades and further growth today instead of waiting years, decades.

another thing is USA blames other countries for their co2 production
but if you break to down to co2 per person

america are 15.52 per capita
china are 7.38 per capita
india is 1.91 per capita

america is 2x more than china
america is 7x more then india. even though america has less people less cars..

blaming it on other things is america's fault. they will do anything to blame something else instead of fixing their own problems
india is

if climate change was an issue:

-why do all the promoters of it have beach side mansions? - they should be under water right now
-why do the super rich fly 400 individuals private jets to their conferences?
-why do they push solar power as green? - batteries & panels are worse for the environment, they end up using more fossil fuels & mining lithium, cobalt is done using slaves.
- why do they push wind power? - the maintenance cost outweigh the benefit
- why do they use solar & wind? - they can't power 24/7 and there's much better alternatives
- why are they pushing electric cars so hard? you need electricity to charge them - fossil fuels
- and why do all these devices smart?
- why do they suppress all the free energy devices? - technology exists to run cars on water

IMO none of is about the climate, it's about surveillance & control. it's all a scam. there are no governments. it's all a front to a multi-nation criminal cabal who all work together, to carry out a very nefarious agenda.

also they have the ability to control the weather - if you think it's a conspiracy theory look up weather wars on youtube. they are saying the weather is getting more insane, are they doing it to push an agenda? - up for you to decide.

the only reason they're about to get away with all these lies - they print the money.

so yes - bitcoin & bitcoin mining fixes climate change.

climate change is real. but the cause is not as promoted

the water cycle has been interrupted by reservoirs plumbing and sewerage, canal diversions and irrigation demands

when they say its getting hotter they include "it hasnt rained in X days" they dont say "smog level is at a high"
the weather channel does not say "smog alert, prepare for heatwave"

anyway lets talk about power plant usage, demand and capacity

7_________________________
6                                             capacity
5     ____      ____       ____    
4__/       \__/        \__/        \__supply
3_________________________current demand max
2    /\/\/\      /\/\/\      /\/\/\      demand
1/\/        \/\/         \/\/        \/\/

the gap between current demand max and capacity is unpaid for: used and/or potential energy

bitcoin mining has multiple uses
so buying into this excess can give energy companies more income to evolve and upgrade and/or reduce other industries/sectors bills

currently energy companies are trying to "smart meter homes" instead to get the energy to look like:

7_________________________capacity
6
5                                          
4  
3     ____      ____       ____     
2__//\/\/\\__//\/\/\\__//\/\/\\__supply
1/\/         \/\/         \/\/        \/\/ demand

however this may bring down usage from5 to 3
however up front power plant build costs are spread over a price of 7 capacity. meaning (3) are paying (7) (ove double rate)and so prices go up

this is why new industry even temporarily need to buy up a few levels of excess capacity to get more income into power plants and bring down average cost per user of electric where 7 is spread over 7 instead of 3 or 5

^ It's definitely real and I think you have a huge point countries don't want to talk about. We have been killing our water reservoirs and old forests and wildlife lanes. Cutting through rivers and mountains, daming up new rivers and flooding valleys, and polluting all our rivers and seas with toxic mining waste.

Bitcoin mining has nothing to do with helping fix this BUT if it replaced fiat systems, it is a big burden lifted off the planet.

Watch for this type of news cycle narrative.



OMG (fear) we (meaning you) are HARMING (something, doesn't matter what) and Here is the Solution (telling you what to do or what to buy)

Everything in that type of statement is pure tyrannical type of persuasion..and about 99.9% of media

Its pure inroads in to 90% of humanity's psychology and instincts.

Think I am wrong?  Go talk to a professional hypnotist learn how they do what they do.  There's no magic there.  Just more understanding of how your brain works.  Heck I haven't even looked it up on YouTube and I am sure someone has posted it. 

Part of the solution here is.   You Must learn/understand how you think and why or you will Never be able to avoid or counter the people that Understand your thought processes better then you. 

I agree with your opinion that the energy  consumed for  Bitcoin mining  is rapidly increasing and significant amount of this energy comes from fossil fuel, which pollutes the environment by releasing toxic gases.

I don't think, Bitcoin mining is solving any problem related to climate change, to address climate changes issues,we need to make efforts to switch to green energy and reduce emission of green house gases.

How so? With the current means of energy harvedt I would argue that bitcoin mining could only worsen the state of our planet. With how fossil fuels are burned and are releasing greenhouse gases, and how bitcoin mining rigs use absurd amounts of electricity, this will only force electric companies to supply more electricity, therefore insinuating more burning of fossil fuels in the process which is in turn to cause climate change to hasten and worsen. As long as our current means of energy harvest and resource management isn't changed bitcoin mining isn't gonna solve climate change.

Solve? Lol, I think bitcoin mining can worsen the climate change because this activity is too dependent on electricity. Bitcoin mining facilities can also emit heat or smokes which again can damage more to the environment but maybe they can convert this heat coming out to the miners to form another energy/electricity which can then be used for free.

Running bitcoin mining on colder areas is also helpful because like I said earlier mining can release a strong heat which can prevent someone from freezing due to the cold weather. So there it is, bitcoin mining isn't totally bad as it seems or as someone might describe it if we will also focus on some of its advantages.

Bitcoin mining has never been bad, why? Because it benefits everyone, it brings useful values to life, promoting social development. Like all other industries consume energy and emit greenhouse gases, but they do not call it useless or polluting the environment because it brings jobs to people, and it creates value and benefits for people. Bitcoin is similar, but the government distorts the fact that bitcoin is only harmful and not beneficial because they gain nothing from bitcoin mining.

Bitcoin as a whole will do more to combat climate change than any and all government efforts for a couple of reasons.

1. Bitcoin fixes incentives that have been distorted by fiat money. When we work, we are exchanging our labor for something of value (money) but since fiat money can be printed out of nothing, the value of that labor is diluted and part of the value of our labor is transferred to whoever receives the newly printed money. This endless money printing leads to disproportionate consumption of natural resources. We simply cannot have an infinite money supply to measure the value of a finite earth.

We print money to pay for houses, college, cars, and credit cards to name a few. The entire fiat world is based on debt and borrowing tomorrow's earnings to consume more goods today. Such levels of spending and consumption are not possible on a Bitcoin standard.

Bitcoin brings balance back to consumerism by incentivizing us to save our money for the long term rather than short term consumption. We can buy less stuff on credit and need to save up to buy things.

2. Bitcoin mining helps to combat climate change by gravitating to parts of the world where there is a surplus of energy like stranded energy, curtailed energy, and other natural resources that are otherwise wasted. Where we are seeing this the most right now is oil well flaring, solar farms, wind farms, and even hydroelectric dams. Bitcoin mining will eventually be drawn to all of these sources because it will simply become too cost prohibitive to mine with standard grid electricity when surplus energy is being used that would otherwise go completely to waste (free energy). If ever these cheap energy sources are no longer able to produce a profit from bitcoin mining (any potential grid demand would pay more than the block reward), the miners will shut down and relocate to a part of the world with cheaper and more abundant energy. That frees up that energy source to be put to use doing something else like supplying the local energy grid with electricity.

Personally, I am most interested in micro hydro generation using small scale generation that doesn't require river dams (like this Belgian company is producing https://www.turbulent.be/) and can be deployed all along the river to decentralize the mining as well as the energy production all along the river. Bitcoin mining could even pay to build out this infrastructure and once the energy producers could make more money selling to the local grid, the miners stop mining and the local community buys the electricity instead.

Not only will bitcoin bring balance back to consumerism but bitcoin mining will also incentivize and even subsidize the production of incredibly cheap and abundant energy.