As headlines accumulate about Bitcoin’s dire environmental impact, a group of investors and supporters have got to work defending the world’s largest digital asset with the help of a crowdfunding-funded anti-FUD documentary. .
First announced by Bitcoin fan, podcast, and investor Brad Mills on Twitter, the movie’s goal is to act as a “definitive” argument for “why Bitcoin will transition the world to renewables faster than the governments”.
I found the filmmaker (@jamie_jk) to make the definitive short on why Bitcoin will transition the world to renewables faster than governments.
It will only cost $ 20-30k for a professional mini-doc at BTC Energy FUD.
I’ll put up $ 5k, who’s with us? #GreenBitcoin https://t.co/7MSPTUlArP
– Brad Mills ✍️ (@bradmillscan) May 14, 2021
Mills’ chosen director is Jamie King, best known for STEALING THIS MOVIE, a documentary series about BitTorrent and one of the earliest examples of a free and crowdfunded effort. In an interview with Cointelegraph, King said that the narrative around Bitcoin’s energy consumption pushed him into action.
“The idea for this new project, for which we are raising funds at the moment, came about as a result of the increasing attention being paid to the energy use of Bitcoin,” King said. “Obviously this came to a head with Elon’s announcement about not accepting BTC for his cars at the moment, but it is also a part of ‘FUD’ that we are seeing repeated with greater and greater intensity.”
Earlier in the week, billionaire Elon Musk tweeted that his company Tesla would no longer accept Bitcoin for payments, a comment that sparked allegations of hypocrisy but whose content was echoed in mainstream media.
Despite Elon’s complaints, the details on how much “dirty” energy Bitcoin consumes are difficult to calculate, however, and even estimates based on Chinese consumption can only give a rough picture.
Regardless, King and his team are not trying to argue that Bitcoin is a clean and green technology.
“I think it is important to recognize that Bitcoin uses energy. A lot of that. That’s part of their design, ”says King. “The question we must ask ourselves is: is it worth it? ”
To be clear, I strongly believe in cryptocurrencies, but they cannot drive a massive increase in the use of fossil fuels, especially coal.
– Elon Musk (@elonmusk) May 13, 2021
King said that those who instinctively answer “no” to that question probably haven’t done their research, and that “in a broader social, political and economic context,” the case for Bitcoin’s energy consumption is self-evident.
So far, the community has responded warmly, increasing .5 BTC in just 48 hours. King also notes that while Bitcoin’s Lightning Network has not had the adoption that some hoped for, after the project was opened to Lightning donations, small backers began to arrive.
“I think what we can see is that Lightning is very real for small Bitcoin donations, I’m happy to say,” he joked.
In the end, King’s goal is not to throw mud at the FUD-sters, but to educate and uplift.
“I don’t just want to counter the idea that this is ‘waste of energy,’ but do something that inspires people about how amazing Bitcoin is. FUD-busting with a higher purpose! “