The galaxy is on the brink of civil war and Jedi are drawn into the heart of the Separatist movement where a new threat is underway: the Clone Wars. Bitcoin is constantly under attack by the media and individuals/groups who either 1) Lack proper Bitcoin education or 2) Have bad intentions (since they would greatly benefit from Bitcoin’s demise). I won’t be able to refute all the fear, uncertainty and doubt (FUD) in this article, but I can point you in the right direction so you can verify for yourself that the negative attention Bitcoin receives is always blown out of proportion and amounts to fake news. Being able to verify things on your own is part of the reason why Bitcoin is so special. Everything, including the code that makes Bitcoin run, is open source and transparent. The Bitcoin developer’s meetings are public, and anyone can attend them (but good luck understanding even a quarter of what they’re talking about). Bitcoin improvement proposals (BIPs) are conveniently listed publicly to receive comments and criticism.
Back to the FUD, one major concern that pops up frequently is Bitcoin’s energy use. To read why Bitcoin’s energy usage isn’t a problem (it’s a feature), see this wonderful article. Additionally, This Machine Greens, is a documentary presented by Swan Bitcoin (a Bitcoin only exchange – signing up with this link gets you $10 BTC). The film explores Bitcoin’s complex and nuanced relationship with energy. It brilliantly dispels many of the misconceptions about Bitcoin mining and actually makes a compelling case for Bitcoin as a net positive for the environment. If you want an even shorter video, this one does a nice job. If you are curious, here are several links that lead to the debunking of the rest of the Bitcoin FUD:
End the FUD
Misconceptions about Bitcoin
Critiques Debunked
Full Articles on FUD
If you have any questions about Bitcoin, feel free to email me at phil@satoshisjournal.com. We welcome you to join our Discord server to get to know the Satoshi’s Journal team and learn more about the Bitcoin projects we are working on. Thanks for reading!
