Samson Mow, CSO of Blockstream, spoke out during an interview with CNBC on the issue of energy waste of BTC mining, stating that “Bitcoin is always sustainable”.
Blockstream CSO @Excellion joined CNBC to explain to a mainstream audience why concern about #Bitcoin ‘s energy usage is misplaced. pic.twitter.com/qGpDNahANx
— Blockstream (@Blockstream) September 15, 2021
“Blockstream CSO @Excellion joined CNBC to explain to a mainstream audience why concern about Bitcoin ‘s energy usage is misplaced”.
Summary
Why Bitcoin is sustainable according to Blockstream
During his talk, Mow contradicts the claims of most people who say that “Bitcoin uses too much energy” or that “Bitcoin uses the same energy that an entire country uses”.
According to Mow, in fact, Bitcoin’s energy use is comparable to the use of any household appliance or Christmas lights and that the question only remains on how to make this use more green.
Not surprisingly, Blockstream was invited to discuss the issue of BTC’s sustainability a week after announcing its partnership with Australia-based multinational investment bank, Macquarie Group Limited.
Blockstream and Macquarie for green bitcoin mining
The collaboration between Blockstream and Macquarie aims to develop and operate zero-emission mining facilities.
The project will take place at Blockstream’s farms located in North America with the goal of alternative and renewable Bitcoin mining.
The initiative with Macquarie includes the launch of a new hosting of mining hardware with the ability to scale up gradually as the new green infrastructure is implemented.
Macquarie, for its part, is already one of the largest institutional investors in renewable energy infrastructure.
Blockstream and Kim Dotcom’s accusations of “centralization”
A few hours ago, the famous founder of Megaupload, Kim Dotcom, published a couple of tweets in which he criticized Bitcoin maximalists, citing Blockstream.
The big lie is that bigger blocks result in more centralization when in fact the 2nd layer is prone to centralization and insecure custodial services. US crypto regulations come out later this year and 2nd layer providers / wallets will be turned into banks. Satoshi’s nightmare.
— Kim Dotcom (@KimDotcom) September 16, 2021
“Bitcoin maxis want to protect their bags. I get it. But the reality is that the creator of Bitcoin was opposed to small blocks and @blockstream
lobbied core devs on its payroll into a 2nd layer perversion of Bitcoin. A trap that makes Bitcoin less secure”.
“The big lie is that bigger blocks result in more centralization when in fact the 2nd layer is prone to centralization and insecure custodial services. US crypto regulations come out later this year and 2nd layer providers / wallets will be turned into banks. Satoshi’s nightmare”.
Obviously, when people talk about Bitcoin’s Layer 2, they are referring to BTC’s Lightning Network and, among the comments, there are many who counter Kim Dotcom’s claims.
Among the many, Alistair Milne, founder of Altana Digital Currency Fund responded as follows:
This is false. The largest wallets use private channels by default and so you can't see their capacity nor quantity
Kim, DYOR, don't just repeat Roger's talking points (all disproven repeatedly)
— Alistair Milne (@alistairmilne) September 16, 2021
“This is false. The largest wallets use private channels by default and so you can’t see their capacity nor quantity. Kim, DYOR, don’t just repeat Roger’s talking points (all disproven repeatedly)”.
A few days ago, Kim Dotcom officially affirmed his love for Bitcoin Cash directly on the social network of crypto-lovers, posting a tweet showing his little dog and his name: BCH.
