With headlines accumulating about Bitcoin’s tragic environmental impact, a group of investors and supporters took the board to protect the world’s largest digital assets with a crowdfunding documentary and fight R & D & I.
The film, first announced on Twitter by podcast investor and bitcoin fanatic Brad Mills, is intended to serve as the “definitive” argument for “why Bitcoin will turn the world into renewable energy faster than governments.”
Director Mills chose Jimmy King, best known for his STEAL THIS FILM series, a documentary series about BitTorrent and one of the first examples of free public engagement. In an interview with Cointelegraph, King said that the story of Bitcoin’s energy consumption made him take action.
“The idea for this new venture, which is currently raising money, came from the growing interest in bitcoin as an energy source,” King said. “This was clearly achieved when Elon announced that BTC would not accept its machines at the moment – but it is also part of ‘RD & F’ that we can see being repeated with more and more force.”
Earlier this week, billionaire Elon Musk tweeted that his Tesla company no longer accepts bitcoins for payment – a comment that sparked accusations of hypocrisy, but which was highlighted in the mainstream media.
Despite Elon’s catch, it is difficult to quantify the details of how much “dirty” bitcoin is consumed, and even estimates based on China’s consumption can only paint a rough picture.
However, King and his team are not trying to argue that Bitcoin is a pure, green technology.
“I think it’s important to recognize that Bitcoin uses energy. In large numbers. It’s part of his design, says King. “We have to ask the question: is it worth it?”
King said that those who instinctively answer “no” to this question have probably not done their research, and that “in the broader social, political and economic context” the state of Bitcoin’s energy use is obvious.
So far, the community has reacted warmly and increased 0.5 bitcoin in just 48 hours. King also notes that while Bitcoin’s Lightning Network did not receive the approval that anyone had hoped for, young supporters began arriving after the project opened for Lightning donations.
“I think we can see that lightning is very real for a small bitcoin donation, and I’m happy to say that,” he joked.
Ultimately, King’s goal is not to return dirt to Food Stairs, but to educate and lift instead.
Not only do I want to resist the idea that it is a waste of energy, but I am creating something that inspires people to what incredible Bitcoin is. RD&D breaks with a higher purpose! “