Bitcoin’s Clean Energy Revolution with Nic Carter & Troy Cross - WBD481

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.