Pierre Rochard & Steve Barbour | Swan Signal | EP 107
The current carbon accounting system lacks comprehensive coverage, focusing solely on carbon emissions and overlooking other harmful pollutants. Hydrocarbons remain indispensable as an energy source, and their complete elimination would entail severe societal consequences. Contrary to misconceptions, Bitcoin mining can aid in stabilizing electrical grids and lowering power prices by providing a manageable load for grid operators. Critiques of Bitcoin's environmental impact often overlook broader economic factors like inflation and governmental policies. The surge in hash rate reflects growing interest in mining, fueled by delayed projects, increased activity in regions like Russia, and market maturation. Instead of fixating on carbon, regulations should target specific pollutants and enhance overall energy efficiency for more effective environmental preservation. Furthermore, Bitcoin mining presents an opportunity to harness excess energy capacity, reducing costs for end users and offering lucrative investment prospects in the energy sector.