Lessons From The “This Machine Greens” Bitcoin Documentary, Pt 1: Net Positive
What does the “This Machine Greens” title suggest? It’s a documentary about Bitcoin mining. The thesis is that the process is “a net positive for the environment.” The aim was to “dispels many of the misconceptions about Bitcoin mining.” Can the team behind “This Machine Greens” present a sufficiently well thought out case to convince the public of this idea? Can they convince you, that are already familiar with Bitcoin?
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In the video’s information box, the authors present the documentary and some of the key players involved:
“This Machine Greens, presented by Swan Bitcoin, is a documentary that explores Bitcoin’s complex and nuanced relationship with energy. The film is produced by Enrique Posner and directed by award-winning British filmmaker Jamie King whose Steal This Film series (2006-2010) was one of the most downloaded documentaries of all time.”
The talking heads are Bitcoin Twitter royalty: Lyn Alden, Alex Gladstein, Meltem Demirors, Nic Carter, Caitlin Long, Samson Mow, Magdalena Gronowska, Greg Foss, Adam Ortolf, and Hass McCook.
Watch “This Machine Greens” And You’ll Learn:
Why gold is valuable? How come it became our ultimate choice as money for all those years? “Inherently, what gold is, is Proof-Of-Work,” explains Lyn Alden. The documentary will also answer this burning question: What’s the point of a currency without intermediaries? And the narrator will teach you that “Today, a single person in the west enjoys the energetic equivalent of 600 humans working for them”
Crew Energy, the first publicly traded oil company to credit #Bitcoin mining for their recent reduction of emissions.#Bitcoin makes the world more energy efficient. ♻️
https://t.co/ouXfKRiz58 pic.twitter.com/N0wXjYV7yA— Documenting Bitcoin 📄 (@DocumentingBTC) September 16, 2021
Watch “This Machine Greens” to learn how the US Military literally backs the Petrodollar. And, of course, the US Military uses infinite energy year after year. Learn about the deal that the US made with Saudi Arabia. The US was to protect the Middle East. The Saudis promised that “The global oil market will be denominated in and conducted with dollars. Ensuring a constant global demand for the currency.”
BTC price chart for 09/17/2021 on FXCM | Source: BTC/USD on TradingView.com
When It Comes To Mining, “This Machine Greens” States That:
How much energy does the Bitcoin network consume at the moment? “Our best guess is around 100 to 150 terawatt-hours of electricity per year. and this comes from making an informed guess as to the kinds of machines that are active in the Bitcoin network and their energy consumption,” says Nic Carter.
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However, Bitcoin heavily incentivizes miners to seek cheap sources of energy. And renewables are usually cheaper, because they’re efficient. However, you have to get to the source. Bitcoin mining, as an industry, is very mobile. The miners are able to go where the power is. So, as Magdalena Gronowska says, “They’ve been shifting towards renewables because It makes economic sense.”
please watch THIS MACHINE GREENS, a short film on #Bitcoin's energy consumption and the relationship between money, technology, nature, and the nation state
sponsored by @SwanBitcoin, feat @LynAldenContact, @nic__carter, @Crypto_Mags, and many others!https://t.co/H36Ilboa7l
— Meltem Demir◎rs (@Melt_Dem) September 15, 2021
It’s also worth noting what Caitlin Long says, “A lot of the energy that the Bitcoin network is consuming is wasted energy that otherwise was not available to be consumed.” Watch the documentary to see real-life examples of Bitcoin miners that use natural gas that’s usually flared to power their rigs. Bitcoin provides an economic incentive to find and release clean energy. Or, as the narrator says, “The search for Bitcoin appears to lead to greener and more efficient energy production.”
Let’s also remember what Meltem Demirors says, “Christmas lights, in the United States alone, consume more power than the entirety of the Bitcoin network.”
Featured Image: "This Machine Greens" logo | Charts by TradingView
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Eduardo Próspero, @Khareem Sudlow
