2024-12-24T16:41:46+0800

There has been a lot of debate about whether Bitcoin and other digital currencies threaten our environment. Naturally, anything green and eco-friendly makes breaking news, and opinions of everyone, including civilians and celebrities like Elon Musk, flood social media outlets. Smartly and aptly, the CoinGeek Zurich Conference did the right thing by hosting a panel, “BSV is Green Bitcoin: Energy Consumption & Environmental Sustainability,” to gather essential information about this hot topic. Bryan Daugherty of Bitcoin Association moderated the panel. Four panelists joined him: Steve Shadders – Technical Director of BSV Infrastructure Team; Angela Holowaychuk – CMO and Exec board member of TAAL; Kirsteen Harrison – Environmental and Sustainability Advisor to the Board at Zumo; and Zach Resnick – Managing partner at Unbounded Capital. The discussion opened with Bryan asking Steve his thoughts on scaling and sustainability. Referring to the live demonstration of the Ternanode Open Framework Steve had presented earlier that day, he asserted that scaling comes to efficiency with Teranode, and the process is energy-efficient. He then spoke about how diminishing block rewards impact the overall hash rate and power consumption of the BSV protocol. Zach explained that proof-of-work mining incentivizes keeping the price of energy as cheap as possible. He said Elon Musk got the conversation on energy consumption started, and every investor has since expressed concerns about Bitcoin mining. Zach revealed that Unbounded Capital is writing a book on this topic. He then dismissed common misconceptions of the Environment Sustainable Governance, criticizing statements such as BTC is synonymous with Bitcoin and that proof-of-work mining is inefficient. Angela later spoke about TAAL’s operations based in Canada, citing that they will have 4000 machines and a total of 15 MW of hash power by this year-end. The hash power supports their enterprise clients to secure and supply the power of the BSV blockchain. She explained that TAAL chose Canada because it has a robust regulatory landscape and an ideal climate for mining. Kirsteen, of all panelists, delivered a fascinating holistic overview instead of a technical one. She advised crypto companies to adopt the right mindset, encouraging them to believe that they are a part of the solution. Another thing she stressed is that these companies should sign up for the Climate Accord, which she revealed that Zumo is one of the early players to have done. ========================================================================= Subscribe to the CoinGeek channel to watch more CoinGeek videos on Bitcoin and blockchain. https://www.youtube.com/coingeek​ ========================================================================= Sign up for our newsletter to get CoinGeek the latest cryptocurrency news and blockchain information! https://coingeek.com/​ Interested in learning about Bitcoin and blockchain? Read our Bitcoin for Beginners section here: https://coingeek.com/bitcoin101/​ If you have a Bitcoin SV Project idea, we’d like to know about it. Submit your Bitcoin investment idea so we can launch your business right away! https://coingeek.com/bitcoin-ventures/​ Be part of the next CoinGeek Conference Register now: https://coingeekconference.com/​ HGOAD3E75Y1XHD9L ==========================================================================