Today we attempt to address an argument that has resurfaced this week. That is the argument that bitcoin is somehow, for environmental reasons, unethical or immoral, because it uses a lot of electricity.
This is one of those arguments that never goes away – and I’m afraid it will never go away. Like Scottish independence or Brexit. “Bitcoin’s a bubble” is another one.
There are those who get bitcoin, see its potential and invest. There are those, such as Nobel-prize winning economists and Financial Times journalists, who are determined not to, and have been talking it down ever since it was a dollar ten years ago.