Because the headlines pile up about Bitcoin’s calamitous environmental affect, one group of buyers 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 purpose of the movie is to behave as a “definitive” argument for “why Bitcoin will transition the world to renewable vitality quicker than governments.”
I discovered the filmmaker (@jamie_jk) to make the definitive quick movie on why Bitcoin will transition the world to renewable vitality quicker than governments.
It can solely price $20-30k for an expert mini-doc on BTC vitality FUD.
I’ll put up $5k in, who’s with us?#GreenBitcoin https://t.co/7MSPTUlArP
— Brad Mills ✍️ (@bradmillscan) May 14, 2021
Mills’ alternative of director is Jamie King, finest recognized for STEAL THIS FILM — a documentary collection about BitTorrent and one of many earliest examples of a crowdfunded, free-to-share effort. In an interview with Cointelegraph, King mentioned that the narrative about Bitcoin’s vitality consumption pushed him into motion.
“The concept for this new challenge, which we’re elevating funds for proper now, happened because of the growing quantity of consideration being paid to Bitcoin’s vitality utilization,” King mentioned. “Clearly this got here to a head with Elon’s announcement about not accepting BTC for his vehicles in the interim — however it’s additionally a chunk of ‘FUD’ we’re seeing repeated with higher and higher depth.”
Earlier within the week, billionaire Elon Musk Tweeted that his firm Tesla would not settle for Bitcoin for funds — a remark that set off accusations of hypocrisy, however whose contents had 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, nonetheless, and even estimates based mostly off of Chinese language 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. Plenty of it. That is a part of its design,” says King. “The query we have to ask is: is it value it.”
To be clear, I strongly imagine in crypto, however it will possibly’t drive a large improve in fossil gasoline use, particularly coal
— Elon Musk (@elonmusk) May 13, 2021
King mentioned that those that instinctively reply “no” to that query probably haven’t executed their analysis, and that “in a broader social, political and financial context” the case for Bitcoin’s vitality consumption is self-evident.
To this point the group has responded warmly, elevating .5 BTC in simply 48 hours. King additionally notes that whereas Bitcoin’s Lightning Community hasn’t seen the adoption some hoped for, after the challenge opened as much as Lightning donations small backers started pouring in.
“I assume what we are able to see is that Lightning may be very actual for small Bitcoin donations, I’m glad to say,” he joked.
In the long run, King’s purpose isn’t to fling mud again on the FUD-sters, however as a substitute to coach and elevate.
“I do not simply wish to counter the concept that it is a ‘waste of vitality’, however make one thing that evokes folks about simply what a tremendous factor Bitcoin is. FUD-busting with a better function!”
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