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Fighting the Bitcoin Mining FUD with Troy Cross

Peter McCormack
186K subscribers
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12K views 2 years ago The Peter McCormack Show
SHOW NOTES: https://www.whatbitcoindid.com/podcas... Troy Cross is a Professor of Philosopher and Fellow at the Bitcoin Policy Institute. In this interview, we discuss the changing narrative around Bitcoin mining: is it finding its real utility in a bear market as the ultimate auxiliary tool, and how early are we in discovering its range of uses as a tool? THIS EPISODE’S SPONSORS: Gemini - https://www.gemini.com/ Wasabi- https://www.wasabiwallet.io/ Ledn - https://www.ledn.io/ Fidelity Investments - https://crypto.fidelitycareers.com/ Ledger - https://www.ledger.com/ BCB Group - https://hubs.ly/Q011cb730 TIMESTAMPS: 00:00:00 Learning from the Bitcoin community 00:11:50 Philosophy is key Bitcoin subculture 00:22:04 Blind spots, ignorance; diversity 00:40:32 Navigating politicization & polarization 00:51:56 Bitcoin mining’s true nature being found 01:01:09 Carbon negative Bitcoin mining? 01:21:45 Regulation, Risk vs Fraud; enforcement, leverage …...more
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Fighting the Bitcoin Mining FUD with Troy Cross
486Likes
12,218Views
2022Dec 7
SHOW NOTES: https://www.whatbitcoindid.com/podcas... Troy Cross is a Professor of Philosopher and Fellow at the Bitcoin Policy Institute. In this interview, we discuss the changing narrative around Bitcoin mining: is it finding its real utility in a bear market as the ultimate auxiliary tool, and how early are we in discovering its range of uses as a tool? THIS EPISODE’S SPONSORS: Gemini - https://www.gemini.com/ Wasabi- https://www.wasabiwallet.io/ Ledn - https://www.ledn.io/ Fidelity Investments - https://crypto.fidelitycareers.com/ Ledger - https://www.ledger.com/ BCB Group - https://hubs.ly/Q011cb730 TIMESTAMPS: 00:00:00 Learning from the Bitcoin community 00:11:50 Philosophy is key Bitcoin subculture 00:22:04 Blind spots, ignorance; diversity 00:40:32 Navigating politicization & polarization 00:51:56 Bitcoin mining’s true nature being found 01:01:09 Carbon negative Bitcoin mining? 01:21:45 Regulation, Risk vs Fraud; enforcement, leverage 01:42:31 Framing the orange pill 01:54:29 Water distillation, carbon capture and…? WHERE TO FIND THE SHOW: → My website: https://www.whatbitcoindid.com/podcast/ → iTunes: https://apple.co/2OOlzVV → Spotify: https://spoti.fi/2ygc4W1 → Stitcher: https://bit.ly/2IQO8fX → SoundCloud: https://bit.ly/2CGSVQR → YouTube: https://bit.ly/3nyi9Ez → TuneIn: https://bit.ly/2ywystr LISTEN TO OLD EPISODES: → By guest: https://www.whatbitcoindid.com/guests/ → By topic: https://www.whatbitcoindid.com/topics/ → Transcriptions: https://www.whatbitcoindid.com/transc... SUPPORT THE SHOW: → https://www.whatbitcoindid.com/sponso... → Become a Patron:   / whatbitcoindid   → Subscribe on iTunes → Leave a review on iTunes → Share the show out with your friends and family on social media → Drop me a line on hello@whatbitcoindid.com WHERE TO FOLLOW ME: → Twitter:   / whatbitcoindid   → Medium:   / whatbitcoindid   → Instagram:   / whatbitcoindid   → Facebook:   / whatbitcoindid   → YouTube:    / whatbitcoindidpodcast   → Website: https://www.whatbitcoindid.com/ → Email list: https://www.whatbitcoindid.com/subscr... LEARN ABOUT BITCOIN: → Step by Step Guide: https://www.whatbitcoindid.com/learn-... → Training: https://www.whatbitcoindid.com/training/ → Resources: https://www.whatbitcoindid.com/resour... #Bitcoin #Finance #Economics **** “The story I want to be true about mining is that it strengthens grids, it lowers electrical rates for citizens for ordinary ratepayers, and it helps us green the grid, helps us mitigate methane…those stories were wrong during the bull run because everybody’s just plugging in, now those stories are coming true.” — Troy Cross Troy Cross is a Professor of Philosopher and Fellow at the Bitcoin Policy Institute. In this interview, we discuss the changing narrative around Bitcoin mining: is it finding its real utility in a bear market as the ultimate auxiliary tool, and how early are we in discovering its range of uses as a tool?
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The trajectory of Bitcoin mining’s narrative has been breathtaking. Over the last year, it has gone from being singularly promoted for its principal role in securing the Bitcoin network, to having a whole host of other uses identified and championed: subsidising stranded energy, stabilising energy grids, mitigating methane emissions, and providing heat for a range of activities. Policymakers are struggling to keep up. The tired old FUD of Bitcoin’s energy use and carbon footprint are still being used as attack vectors by supposed reputable institutions such as the ECB. It also feeds into the narratives picked up by policymakers such as the White House, who’s commissioned report on Bitcoin mining’s climate impacts was affected by mainstream ignorance. But, the White House report also included recognition of some of Bitcoin mining’s emerging benefits, as well as correcting some misrepresentations of its impacts. This shows that, whilst we are far from getting widespread acceptance of the importance of Bitcoin mining, the effort spent on education and advocacy by the Bitcoin community is having a vital real-world impact. Promoting Bitcoin mining’s evolving narrative is critical. This is because we’re on the cusp of some far-reaching regulation in the wake of recent crypto scams. Regulators could see this as an opportunity to constrain Bitcoin mining; politicians never let a good crisis go to waste. Yet, we are still early in understanding the scope of Bitcoin mining’s value. New uses are being researched and developed all the time: OTEC, water desalination and carbon capture are recent examples. Bitcoin mining is emerging as perhaps an engineer's ultimate auxiliary tool. The mission is therefore to not only continue to convey Bitcoin mining’s importance, but provide the widest possible frame for its significance.
The Peter McCormack Show
Peter McCormack

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Peter McCormack

186K subscribers