Because the headlines pile up about Bitcoin’s calamitous environmental affect, one group of traders and supporters have stepped as much as the plate to defend the world’s largest digital asset with the assistance of a crowdfunded, FUD-fighting documentary movie.
First introduced by investor, podcast host, and Bitcoin fanatic Brad Mills on Twitter, the aim of the movie is to behave as a “definitive” argument for “why Bitcoin will transition the world to renewable energy faster than governments.”
I discovered the filmmaker (@jamie_jk) to make the definitive quick movie on why Bitcoin will transition the world to renewable vitality sooner than governments.
It is going to solely value $20-30k for knowledgeable mini-doc on BTC vitality FUD.
— Brad Mills ✍️ (@bradmillscan) May 14, 2021
Mills’ selection of director is Jamie King, greatest recognized for STEAL THIS FILM — a documentary sequence about BitTorrent and one of many earliest examples of a crowdfunded, free-to-share effort. In an interview with Cointelegraph, King stated that the narrative about Bitcoin’s vitality consumption pushed him into motion.
“The concept for this new undertaking, which we’re elevating funds for proper now, took place because of the growing quantity of consideration being paid to Bitcoin’s vitality utilization,” King stated. “Clearly this got here to a head with Elon’s announcement about not accepting BTC for his automobiles in the meanwhile — nevertheless it’s additionally a chunk of ‘FUD’ we’re seeing repeated with larger and larger depth.”
Earlier within the week, billionaire Elon Musk Tweeted that his firm Tesla would no longer accept Bitcoin for payments — a remark that set off accusations of hypocrisy, however whose contents have been echoed loudly within the mainstream media.
Regardless of Elon’s gripes, specifics about how a lot “soiled” vitality Bitcoin consumes is troublesome to calculate, nevertheless, and even estimates based off of Chinese consumption could solely paint a tough image.
Regardless, King and crew aren’t making an attempt to argue that Bitcoin is clear, inexperienced tech.
“I believe it is necessary to acknowledge Bitcoin makes use of vitality. Numerous it. That is a part of its design,” says King. “The query we have to ask is: is it price it.”
To be clear, I strongly consider in crypto, however it may well’t drive an enormous enhance in fossil gasoline use, particularly coal
— Elon Musk (@elonmusk) May 13, 2021
King stated that those that instinctively reply “no” to that query seemingly haven’t completed their analysis, and that “in a broader social, political and financial context” the case for Bitcoin’s energy consumption is self-evident.
Up to now the group has responded warmly, elevating .5 BTC in simply 48 hours. King additionally notes that whereas Bitcoin’s Lightning Network hasn’t seen the adoption some hoped for, after the undertaking opened as much as Lightning donations small backers started pouring in.
“I suppose what we are able to see is that Lightning may be very actual for small Bitcoin donations, I’m glad to say,” he joked.
Ultimately, King’s aim isn’t to fling mud again on the FUD-sters, however as an alternative to coach and elevate.
“I do not simply wish to counter the concept that this can be a ‘waste of vitality’, however make one thing that evokes individuals about simply what a tremendous factor Bitcoin is. FUD-busting with the next function!”