There are a lot more lessons in the “This Machine Greens” documentary. Could Bitcoin mining in fact be a net positive for the environment? That’s their thesis. The documentary has Swan Bitcoin’s seal of approval, Enrique Posner produced it and Jamie King, of “Steal This Film” fame, directed it. In the very first part of this analysis, we found out that the Bitcoin network tends to use lost energy and goes anywhere there’s inexpensive energy available. And eco-friendly sources of energy are generally cheap because they’re efficient.
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What will we learn in part 2? Keep reading to find out.
But initially, we must let you know that “This Machine Greens'” talking heads are these heavy players: Lyn Alden, Alex Gladstein, Meltem Demirors, Nic Carter, Caitlin Long, Samson Mow, Magdalena Gronowska, Greg Foss, Adam Ortolf, and Hass McCook.
This Machine Greens ‘Stance On Energy
BTC price chart for 09/17/2021 on Bitstamp|Source: BTC/USD on
TradingView.com Producing Money Is Crucial
Back to the gold is Proof-Of-Work concept that Lyn Alden proposed, the storyteller tells us, “Embeded in each Bitcoin, like a bar of gold or a string of sheels, is evidence that this work was done.” And Lyn Alden cuts to the chase and specifies the issue, “Creating money can look like a waste to people who are not familiar with the requirements that cash serves.” Money increases the efficiency of ALL other deals.
This concept works together with the method Jordan Peterson manufactured the entire quandary around Bitcoin’s energy intake:
“Whatever energy is expended in the production of Bitcoin and the maintenance of the system must be more than recovered by the increased efficiency of every system that uses Bitcoin as a transactional device.” Boom! If we take that into account, “There’ll be a net energy gain and not a net energy loss if you determined it across the whole system.”
Bitcoin Will Fund Clean Energy
According to Alex Gladstein, Bitcoin can money the “Electrification of new areas and creation of brand-new financial activity.” This machine greens, if you will. And if we’re talking facilities for tidy energy, Magdalena Gronowska breaks it down:
“It’s derisking building and constructions of renewable energy centers. It’s derisking it since it’s ready to purchase 24/7, 365. And when you have a predictable buyer, a foreseeable profits stream, it’s easy to plan your operations. Which certainty indicates that site gets developed.“
This Machine Greens Refers to Bitcoin
How does “This Machine Greens” end? With a bang. They speak about inflation in the United States, something every other nation in the world understands intimately, however they’re just beginning to feel. And then, they go to the reasons Bitcoin is required. Ideas that this site’s audience is really knowledgeable about, but will fall like a lots of bricks over the head of any casual audience.
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The documentary concludes that the conversation is actually in between those who believe Bitcoin works and those who think it isn’t. If you’re in the very first camp, Bitcoin’s pledges to the world far surpass its energy intake. Plus, it may fund the next transformation in clean energy that the world so desperately needs. A win/ win scenario.
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