Bitcoin’s Clean Energy Revolution with Nic Carter & Troy Cross – What Bitcoin Did

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Nic Carter is a Partner at Castle Island Ventures, and Troy Cross is a Fellow at the Bitcoin Policy Institute. In this interview, we discuss Bitcoin mining as an ESG offset and how Bitcoin miners could be the frontier of energy development whilst helping nations attain energy sovereignty. 
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The two extremes of the climate change debate are engaged in a zero-sum game. 
For some, the existential threat of climate change requires humans to rapidly transition to energy production 100% derived from renewable sources. A particular contingent believes a transition is required by force: a carbon tax to dissuade investment in fossil fuels and a degrowth agenda to enable society to prioritise the use of more limited but sustainable energy sources.
The counterargument is that catastrophic climate change isn’t inevitable. Therefore, whilst there are insufficient cost-effective and reliable renewable energy sources, constraining the use of fossil fuels is a dangerous dogma that risks preventing vast swathes of the world from being able to escape poverty. 
Does the argument need to be this binary? Is there an alternative that uses the power of the market rather than relying on coercive measures?
If we assume that if energy sources were equally cost-effective and reliable, the obvious choice would be to invest in those that are renewable and that have the lowest negative impacts. The issue would then be how do you make renewable energy cost-effective and reliable. The answer is counterintuitive: meet what those who promote fossil fuels want –  facilitate energy abundance.  
Troy Cross thinks this is how Bitcoin can help bridge the divide, enable a rapid transition to renewable sources, whilst ensuring the world’s population can flourish.
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Mentioned in the interview:
Want Cleaner Bitcoin Mining? Subsidize It – Nic Carter, Coindesk, Oct 2021
Greening Bitcoin With Incentive Offsets – Troy Cross and Andrew Bailey, Resistance Money, Sep 2021
Report: Bitcoin Net Zero – Ross Stevens and Nic Carter, NYDIG, Sep 2021
Love Bitcoin? Mine Your Values – Troy Cross and Andrew Bailey, Coindesk, Jul 2021
Bitcoin miners say they’re helping to fix the broken Texas electric grid, and Ted Cruz agrees – CNBC, Dec 2021
Alex Epstein (American writer) – Wikipedia
ESG Is The Little Bighorn Of Bitcoin Skeptics – Pantera Capital, Aug 2021
A Split Emerges In Blockchain Law: Wyoming’s Approach Versus The Supplemental Act, Forbes, Mar 2019
Wyoming’s state stablecoin: Another brick in the wall? – Cointelegraph, Feb 25th 2022
Hydrogen Is One Answer to Climate Change. Getting It Is the Hard Part – NY Times, Jul 2021
Electrify: An Optimists Playbook for Our Clean Energy Future – Saul Griffith
Bitcoin Energy Consumption Index | Digiconomist – Alex de Vries
Other Relevant WBD Podcasts:
WBD480: Truth, Energy, & Bitcoin with Marty Bent
WBD478: A Progressive View of Bitcoin with Margot Paez
WBD463: Can Bitcoin Mining Save the Environment? with Troy Cross
WBD441: The State of Bitcoin Mining with Amanda Fabiano & Jaime Leverton
WBD440: Why Proof of Stake is Flawed with Lane Rettig
WBD432: The Future of Bitcoin with Nick Carter
WBD431: Bitcoin is Digital Energy with Michael Saylor
WBD400: Bitcoin Mining 101 with Harry Sudock
WBD398: ESG & Institutional Bitcoin Investment with Kevin O’Leary
WBD361: The Truth About Bitcoin’s Energy with Harry Sudock
WBD353: From the Petrodollar to a Bitcoin Standard with Alex Gladstein & Nic Carter
WBD200: Beginner’s Guide #15: Bitcoin FUD with Nic Carter
WBD126: Michel Rauchs on The Bitcoin Electricity Consumption Index
WBD037: Game Theory of Bitcoin Attacks and why Proof of Work Needs to be Expensive
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