This is an excerpt from the “Bitcoin Magazine Podcast” hosted by P and Q. In this episode, Marshall Long joins us to talk about how Bitcoin can survive a bear market as his miner and how he cannot survive in the current political scene. Beat Bitcoin miners into submission.
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Q: I would like to continue mining, but for many different reasons that may or may not be true, I would like the World Economic Forum into the equation. bitcoin mining It seems to be one of the most triggers for climate change activists, shitcoiners and those who are against Bitcoin. Both energy usage and proof of work mining in particular are put on the stand. I’d love to hear your thoughts on early proof of work conversations, before Mt. Gox. What was the rationale/justification for the proof of work? Also, if someone was discussing Proof of Stake (PoS), how much did you bully them until they ended up with the villain known as Vitalik Buterin?
Marshall Long: Anyone who says they knew bitcoin was going to be a huge blockbuster in the early days is a fucking liar. You can pay off your CPU and GPU by mining, that’s great, I know nothing about economics or financial inclusion or what’s great about Bitcoin as we know and love it now. did not.
Very early, in the early days it was. As far as PoS was concerned, people used it only as a way to trade shitcoins. In the early days of Gox, BTC-e or any of these other exchanges (NXT was like his one of the first PoS coins) something like trying to arbitrage bitcoin was.
It was nothing else. And then papers started coming out where people were like, “It’s less secure, blah blah blah.” And Vitalik didn’t get his way and pushed the code via Bitcoin. This is a completely different can of worms. Now that Golden Boy has let go of Proof of Work Dragon, we realize they’re trying to get us into his ESG. It failed miserably because most miners actually use vast amounts of green power.
BlackRock tried to put out all these ESG directives, so every other awakened capitalist was like, ‘Oh, I have to follow this ESG score shit. It didn’t work. Then the war broke out and BlackRock backed off his ESG, so everyone else backed off his ESG. Now all bitcoin mining is the devil. And the common answer is, “Because we’re not stupid.” Not much else to say about it.
P: Yes. It’s pretty infuriating, at least for me. I continue to expect desensitization to lies and blatant misrepresentation of reality and facts to push the bag of a very specific group of people: those who promote ESG and anti-Bitcoin narratives. but it just infuriates me every time.
Long: Almost all Bitcoiners I know have no problem with ESG or green. we like to go outside We like to breathe fresh air. There is nothing wrong with that.It’s not a bad thing to treat people kindly[ly]And the governance part of running the company and not being a crap boss is all good. But when you take advantage of it and try to coerce people into investing in things you want them to invest in, that becomes a problem. No one will say, “Oh yeah, I want to melt the ice cap and mine bitcoin.” Everyone agrees that it’s better to be warm in winter.
There’s no reason why we can’t do everything and not totally shit about it. The White House report was a joke. They didn’t even try, they didn’t even try.
They even interviewed Nic Carter, but didn’t use any of his stuff.he just did a great podcast with peter [McCormack] And I was very intrigued to hear how they interviewed so many other people involved in Bitcoin and didn’t use anyone’s information.
They aren’t even trying to hide it now. It’s a clearly targeted attack. It has no scientific basis at all. The best part is it’s starting to get cold in Europe.
P: It’s infuriating. As you said, there is no real basis for this. The specific points are far from what is actually happening and are very insane. I feel like there’s a very difficult trap for me to fall into. That’s when people are like, “Oh, Bitcoin uses his 0.5% (or whatever it is) of the world’s energy.” It’s really hard not to discuss that claim. Running Christmas lights? Drying your own clothes in the dryer? Are you leaving the lights on? do you drive a car All of these use far more energy than Bitcoin, in the United States alone. But it’s actually the wrong frame. If you fall into the quagmire, you have already lost. The real framework is: if someone is paying for electricity, if they are paying for electricity, or if they are generating their own from products that are considered waste from other industries. then you should be able to do whatever you want with that electricity.
When everyone in America buys electricity from their meter, we give them that right, but with Bitcoin for some reason, they try to moralize it. People love to get out of shape about morally inclined issues, even when they’re completely wrong.
Long: By zooming out and looking at the rest of the globe, it’s easy to see how none of it actually works. [matters]I heard that Pornhub uses 8 times more energy than Bitcoin miners. i will buy it i will definitely buy it.
Other parts of the world do not have such problems. I recently went to Africa and started looking for ways mining could help our communities and more. In reality, the problems of the Western world are not the problems of Africa. Even as the entire global financial sector collapses and Russia bombs the United States and others, Africa continues its job, barely skipping a beat.
When people start talking about this, I bring up the story of the African people. [who] Don’t use so much power not because you don’t always have access to it, but because it’s too expensive. That’s because the generator is a catch 22 cycle he only sells power for 4-5 hours a day. Because people just turn on the lights and charge their phones.
So, we have to charge $0.050, $0.60 per kWh. It’s so expensive that the community doesn’t use enough of it, so it’s kind of like this awful incentive wheel. So you can’t always sell your electricity as a generator, but when you add mining people start getting cheaper. It’s kind of like doing something really dangerous instead of doing something really dangerous – a lot of people who like to get caught in a fire to cook with kerosene find that being around a kerosene lamp and a paraffin fire is very dangerous. It is high. These people who are mining and connected to the mini-grid have seen their electricity bills drastically reduced and are starting to cook on hotplates, electric hotplates etc. Mining without filters It directly affects people’s quality of life. It’s just an incentive. Everyone makes money. Community saves money. Most people aren’t going to say, “Oh, that’s bad.” People quickly shut their mouths when you talk about it.