Bitcoin can be a controversial topic in the press. A lot of articles are claiming that bitcoin is bad for the environment. Is that true? Is bitcoin really that bad for the environment? This blog post explores the fact.

Bitcoin is a competitor to the fiat petro dollar paradigm. It needs to be compared as such, otherwise the comparison would be apples and oranges. When bitcoin is compared to the dollar, bitcoin factually proofs to be vastly more energy efficient. We think that bitcoin is positive for the environment via a couple different mechanisms.

Bitcoin is very much misunderstood in the press. That misunderstanding might be on purpose or accidental. The effect is the same: If you only look at bitcoin superficially through the mainstream press, you would not get an accurate picture. That’s why I’ve started this blog and today I’d like to answer the question if bitcoin is good for society.

Bitcoin is extremely beneficial for society. That’s because bitcoin is fairer than the fiat dollar alternative. There’s no kleptocracy in bitcoin: The system is fair. Moreover, Bitcoin is vastly more energy efficient than the petro-dollar alternative and bitcoin incentivises alternative energy efficiency, thus lowering emissions. Bitcoin is a system of peace. It removes the possibility for seigniorage thus defunding war mongering governments and incentivising diplomatic solutions for problems. Inflationary currency collapses will not happen in the bitcoin system, which makes the hyperinflationary collapses of Venezuela and Zimbabwe impossible in bitcoinized countries. That’s a lot to unpack:

People, who wonder about the long term viability of the bitcoin protocol, ask the question what happens when all 21 million bitcoin are mined and bitcoin reaches its hard cap. Will mining stop and bitcoin fail? What’s all this about?

When bitcoin approaches the 21 million hard cap, mining will be increasingly incentivized by fees. Over time, newly issued coins will be less important to reward miners for their work on the network. The reward for miners will transition to a fee based compensation. Mining will not stop in the future if bitcoin wins against fiat money, which is possible and likely.

A high school friend heard about my blog and approached me the other day, asking me why bitcoin was the most popular cryptocurrency. Bitcoin is the only truly decentralized solution for money and thus the only competitor to the broken fiat currency system. No other cryptocurrency can rival bitcoin in terms of decentralization and network effect. Bitcoin also has the strongest brand and features an incredibly well thought out technology stack. Bitcoin is bedrock for the 21st century. There’s no second best. Let’s explain in detail:

People wonder what dirty bitcoin is, because they’ve read about it in the news or maybe the term has come up in conversation. We explain to you, why the term “dirty bitcoin” is a way to confuse you with fear, uncertainty and doubt (also known as FUD). Dirty bitcoin, in a nutshell, is a way for the powers that be to discourage people from using bitcoin. Bitcoin itself cannot be dirty (or clean). Dirty bitcoin does not exist, because bitcoin is money and dirty money does not exist. Let’s unpack all of this.