Last week, Tesla announced they will no longer accept Bitcoin as payment for vehicles. In a timely episode, Alex Gladstein, chief strategy officer at the Human Rights Foundation, and James McGinniss, CEO and co-founder of David Energy, come onto the show to discuss Bitcoin, the petrodollar, and how to contextualize the energy usage of the first cryptocurrency (BTC) versus the leading fiat currency (USD). Show highlights:

their backgrounds and how they became interested in the intersection of currency and energy usage
why Alex and James really think Tesla stopped accepting BTC as payment
why James thinks Bitcoin’s energy intensity is a “feature, not a bug”
Alex on the history of the petrodollar and how the USD in recent decades has been tied to fossil fuel production
comparing the carbon cost of a dollar to Bitcoin’s energy consumption
what both James and Alex think of the Square and Ark Invest research paper saying renewable energy production could be tied with Bitcoin mining
why measuring Bitcoin’s energy usage is difficult
how Bitcoin mining in China is changing for the better
how the Biden administration might impact Bitcoin
where to find more information on Bitcoin and energy consumption

Thank you to our sponsors!

E&Y: https://ey.com/globalblockchainsummit

Crypto.com: https://crypto.onelink.me/J9Lg/unchainedcardearnfeb2

Kyber Network: Dmm.exchange

Episode Links

People:

Recommended Reads:

Elisabeth Steyn thread on Tesla and energy credits
- https://twitter.com/Elisabeth_Steyn/status/1392799067986554880
“Tesla seeks entry into U.S. renewable fuel credit market” by Reuters
- https://www.reuters.com/business/sustainable-business/exclusive-tesla-seeks-entry-into-us-renewable-fuel-credit-market-sources-2021-05-12/
“Debt” by David Graeber
- https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290
Others:
- Bitcoin energy consumption index
- - https://digiconomist.net/bitcoin-energy-consumption/
- Cambridge study on cryptoassets
- - https://www.jbs.cam.ac.uk/wp-content/uploads/2021/01/2021-ccaf-3rd-global-cryptoasset-benchmarking-study.pdf
- Triffin Dilemma
- - https://dailyreckoning.com/the-triffin-dilemma/

Alex Gladstein’s Recommended Follows:

Nic Carter
- https://twitter.com/nic__carter
Lyn Alden
- https://twitter.com/LynAldenContact
Susan Su
- https://twitter.com/susanfsu
Luke Gromen
- https://twitter.com/LukeGromen
Michael Hudson
- https://twitter.com/michaelwhudson

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Bitcoin vs. the Petrodollar: Which Is More Environmentally Friendly? - Ep.238 01:08:59 Share

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Bitcoin vs. the Petrodollar: Which Is More Environmentally Friendly? - Ep.238