In Norway the discussion about crypto mining has been a hot topic in the last couple of weeks. The reason is that the Norwegian government gives a a rebate on energy to certain businesses that are «industrial». If you want to read more about the actual debate, read more here.
I am not going to go in the deep details about the debate, but I really want to dig deep on one of the key arguments to the people who slaughter Bitcoin. The argument that «Bitcoin is not good for the climate» or «Bitcoin is a waste of energy».
In Norway especially this is a really interesting topic, because we are one of the richest countries in the world. Our wealth is from oil and you don`t really have to be rocket scientist to understand that our wealth and pumping of oil have contributed to the climate change.
Norway stroke oil in 1969 and ever since we been pumping that black gold like crazy. With time the technology has been approved and so has our impact on the environment. We can`t really do much about the consumption and demand of oil, but everyone tries to get better and more efficient.
Why is Bitcoin any different? If Bitcoin is now where oil was 1969. It can really only get getter. The Bitcoin miners wants the cheapest electric energy as possible. So instead of people arguing about the power consumption of Bitcoin-miners today. Let`s welcome Bitcoin and try to make it as CEO2 neutral as possible.
Maybe Bitcoin can make it more lucrative to develop better systems for solar energy or other renewable more efficient sources of power. I think we should appreciate the technology. Most of us belive in the evolution theory and there is really no reason why Bitcoin would be the exception here.