RFK Jr. Counters Bitcoin’s Environmental Impact ‘Smokescreen’ Criticisms
Presidential Candidate Robert F. Kennedy Jr. has spoken out in opposition to arguments important of Bitcoin over its perceived environmental affect. He stated that opponents are utilizing it as a smokescreen to curtail monetary freedom.
On July 31, Robert F. Kennedy Jr. (RFK) reacted to what he stated was an “fascinating argument” that Bitcoin was not so dangerous for the atmosphere in spite of everything.
Bitcoin Environmental Influence Arguments
Commenting on Sangha Programs director Daniel Feldman’s publish on Bitcoin’s “symbiotic relationship” with renewable vitality, he stated.
“On the very least, environmental arguments shouldn’t be used as a smokescreen to curtail freedom to transact.”
Earlier this month, RFK Jr. described his imaginative and prescient for returning USD to a tough foreign money and backing it with belongings comparable to BTC.
Anti-crypto politicians have usually cited Bitcoin mining as being dangerous to the atmosphere over its excessive vitality utilization. Some environmentalists, comparable to Greenpeace, have gone to such extremes as to accuse BTC of destroying the planet.
Whereas Bitcoin mining is energy-intensive, it makes use of extra renewable vitality now than ever.
Bitcoin Mining Power Sources March 2023. Supply: batcoinz / @dsbatten
Moreover, Feldman concurred that Bitcoin mining is an answer to enhance the electrical grid and reduce reliance on fossil fuels. Nonetheless, he stated that “most renewable vitality websites aren’t worthwhile with out authorities subsidies.”
Authorities subsidies comparable to tax credit create market distortions, he stated earlier than including:
“The move of those credit are managed by the big banks that get bailed out in instances of monetary disaster, the exact same banks Bitcoin will free us from.”
Furthermore, renewable vitality websites face congestion and curtailment points with no international market to promote into throughout demand troughs.
Bitcoin solves this by making a “international marketplace for electrical energy that may encourage funding into renewable vitality tasks with a brand new income frontier.”
Moreover, Bitcoin information facilities are versatile hundreds. This implies they’ll seamlessly activate and off. “This flexibility permits a renewable website to pivot to promote vitality into the native electrical energy market when the grid/customers want electrical energy,” he stated.
BTC Power Utilization Outlook
These arguments have been echoed by inexperienced vitality corporations looking for the flexibleness of crypto mining operations. Nonetheless, they nonetheless face stiff opposition from blinkered politicians and clickbait media who imagine BTC will soften the planet.
World BTC mining operations at the moment use an estimated 137 TW/h (terawatt hours) per 12 months, in response to Cambridge College.
That sounds so much when in comparison with a complete nation comparable to Ukraine, which makes use of 134 TW/h by comparability.
Nonetheless, the electrical energy transmission and distribution losses in america alone may energy the Bitcoin community 1.5 instances with 206 TW/h per 12 months.
