As you probably know, Congress has announced a hearing about Bitcoin energy use.
The official announcement from the House Committee on Energy & Commerce and link to the live stream.
HEARING ON "CLEANING UP CRYPTOCURRENCY: THE ENERGY IMPACTS OF BLOCKCHAINS"A couple of articles:
Congress Announces Hearing On Bitcoin’s Energy UseThe move was prompted by a letter sent to the House in October by a cohort of national and international climate organizations that argued against the energy usage of Bitcoin and its Proof of Work (PoW) system.
“We, the more than 70 climate, economic, racial justice, business and local organizations, write to you today to urge Congress to take steps to mitigate the considerable contribution portions of the cryptocurrency markets are making to climate change and the resulting greenhouse gas (GHG) emissions, environmental, and climate justice impacts it will have,” the letter read.
A rebuttal to the letter was published this week by the Bitcoin Policy Institute (BPI), an interdisciplinary cohort of economists, coders, lawyers, climate scientists, philosophers, and policy analysts providing research, fact-checking, and commentary on Bitcoin.
This is the link for the
letter from the Climate organisations.Here instead the letter from the
Bitcoin Policy Institute (BPI)Fact-checking Climate Organizations’ Crypto Letter Congress is preparing an oversight hearing on Bitcoin mining's environmental impact: sources
The Oversight and Investigations subcommittee of the House Energy and Commerce Committee is apparently working on a roster of witnesses to account for the energy use of proof-of-work crypto validation, especially the Bitcoin network.
LIVESTREAM LINKAs you know, I have been quite vocal about the myth of “energy waste “ due to bitcoin.
See this thread, for example:
Debunking the "Bitcoin is an environmental disaster" argumentI think that, now that the US is going to be a major player in the mining industry, this hearing might be of utter importance to understand if and how regulators are going to impact mining operations in the US.
We will use this post to collect information, ideas, and results about this hearing.