🌍World Economic Forum Recognizes the Benefits of Bitcoin Mining🚀

pawel7777

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Quote from: pawanjain on April 27, 2023, 12:17:21 PM

You are right that they didn't mention anything about bitcoin particularly but they have showed some data centers which do look like mining farm.
They have represented it as mobile modular data centers which I am not sure of but looks like bitcoin mining farm filled with ASICs.

Yeah, but the average person would not have a clue of what they actually see in that video. So it's still pretty far-fetched to say that WEF "finally recognized the positive effects of bitcoin mining" as per OP. All the video does is praise harvesting the waste gas to produce green energy, without a single mention of Bitcoin or crypto.

Quote from: Darker45 on April 26, 2023, 08:32:54 PM

Is Bitcoin mining their main source of income? It doesn't seem so. Try dropping by their official website and it appears they didn't even mention Bitcoin mining, even in their Values and Mission, except perhaps in a number of the many articles featuring them which they linked.

That's true, there doesn't seem to be many mentions of Bitcoin, but they have a couple of articles on their blog where they're pretty open about it.
And for what it's worth, they have this on the main page:

https://www.crusoeenergy.com/

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Quote from: pawel7777 on April 25, 2023, 03:45:35 PM

It's not like the WEF started to praise Bitcoin and Bitcoin mining all of a sudden. All they did was release this video:
https://www.weforum.org/videos/this-start-up-catches-waste-methane-to-power-data-centres, which doesn't even mention Bitcoin (unless I missed it), but the featured company is engaged in Bitcoin mining.
So it's only a praise for utilising a waste gas (such as methane) that can be converted into cheap energy.

WEF's have previously made negative statements on crypto mining and are demanding strict crypto regulations. I don't think this video is a sign of a change of heart.

You are right that they didn't mention anything about bitcoin particularly but they have showed some data centers which do look like mining farm.
They have represented it as mobile modular data centers which I am not sure of but looks like bitcoin mining farm filled with ASICs.
Check the below screenshot.

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Quote from: NotATether on April 26, 2023, 03:44:45 PM

Hence why nothing they talk about should be taken seriously, whether it's about bitcoin or otherwise.

Disagree. They SHOULD be taken seriously. WEF, like it or not, is a powerful organisation. It's not just a bunch of bored guys who meet up once a year for no particular reason just to talk about nothing. They're pretty overt with their agenda and most countries seem to be following it.

Here's an incomplete list of politicians that graduated the "Global Leaders of Tomorrow" WEF's program, compiled by Malone's Institute: https://maloneinstitute.org/wef that gives some idea of the scale of their influance.
To quote K. Schwab, WEF's Chairman: "What we are very proud of, is that we penetrate the global cabinets of countries with our WEF Young Global Leaders"

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Quote from: JustEmilyR on April 24, 2023, 10:21:00 PM

The World Economic Forum has finally recognized the positive effects of bitcoin mining, throwing away years of misconceptions about its environmental impact and highlighting the real benefits it brings to the economy. With this news, it is very clear that BTCitcoin mining is being recognized as a valuable and sustainable industry. Cool

Full Article : https://crypto-economy.com/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining/

As a firm believer and bitcoin advocate, I have for the longest of time preached about the numerous benefits of bitcoin mining for our environment especially using alternative energy sources, contrary to the arguments of the anti-bitcoin mining folks. When I first saw Michael Saylor's tweet about it, I remembered all the so-called articles written against bitcoin mining and the false energy consumption. However, after reading this WEF article , I think it is a win for us as it is a step towards global awareness of bitcoin. I recall mentioning on this thread that using biomass, solar, wind, and geothermal energy for bitcoin mining is both cost effective and has little to no impact on the environment.

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Even though it looks like good news, I would not take it seriously because it will be up to the government in each country whether they will allow bitcoin mining or keep it banned. Maybe they say bitcoin mining has positive effects, but that doesn't guarantee the government will approve it.

We only need to see how the news develops, whether the World Economic Forum will continue to fight for it until bitcoin mining (and the use of bitcoin, of course) is permitted in many countries or is this just a word that is only circulating temporarily.

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Quote from: pawel7777 on April 26, 2023, 02:07:02 PM

Quote from: Darker45 on April 25, 2023, 09:09:11 PM

On Crusoe Energy's part, would they have even mentioned Bitcoin mining even if it wasn't a WEF video they are making? I also doubt.

Why not though? If their main source of income is Bitcoin mining then they're probably not ashamed of it and they have vested interest to advocate for Bitcoin.
But it's very telling that they the video only refers to the vague "data centers".

Why not? Because Crusoe Energy is a partner of WEF. They're probably not ashamed of Bitcoin mining, of course-- there's money from it, after all-- but they have to walk on eggshells because "Crusoe is part of the World Economic Forum's innovator communities."^[1] It is telling why despite the WEF being largely composed of Bitcoin critics, they chose Crusoe to be featured.

Is Bitcoin mining their main source of income? It doesn't seem so. Try dropping by their official website and it appears they didn't even mention Bitcoin mining, even in their Values and Mission, except perhaps in a number of the many articles featuring them which they linked.

[1] https://www.weforum.org/videos/this-start-up-catches-waste-methane-to-power-data-centres

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Quote from: pawel7777 on April 26, 2023, 02:07:02 PM

Quote from: Darker45 on April 25, 2023, 09:09:11 PM

On Crusoe Energy's part, would they have even mentioned Bitcoin mining even if it wasn't a WEF video they are making? I also doubt.

Why not though? If their main source of income is Bitcoin mining then they're probably not ashamed of it and they have vested interest to advocate for Bitcoin.
But it's very telling that they the video only refers to the vague "data centers".

I don't know much about where the source of income of Crusoe Energy is from and why the WEF doesn't allow Bitcoin mining to be mentioned in the video while thousands of BTC miners are shown in the video but the crypto community needs to control their excitement feeling when an organization like WEF shows or say something positive about BTC.

Quote from: pawel7777 on April 26, 2023, 02:07:02 PM

It's also funny how some members of this forum are happy to change their opinion on WEF, SEC etc as soon as they say anything even remotely positive about Bitcoin. They are existential enemies of decentralised and censorship-resistant currencies. Let's never forget about that.

It's not only the member of this forum, if you look at the news it was first tweeted by Michael Saylor. Although, its a good news but once bitten will always be twice shy.

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Quote from: JustEmilyR on April 24, 2023, 10:21:00 PM

The World Economic Forum has finally recognized the positive effects of bitcoin mining, throwing away years of misconceptions about its environmental impact and highlighting the real benefits it brings to the economy. With this news, it is very clear that BTCitcoin mining is being recognized as a valuable and sustainable industry. Cool

Full Article : https://crypto-economy.com/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining/

That's a very positive news, hopefully it will signal a change in WEF's narrative regarding Bitcoin. Interestingly enough, it had no effect on the price of Bitcoin, even though it was tweeted by Michael Saylor. At the same time, personalities like Elon Musk seem to ignore it. Not sure why he keeps ignoring the positive side of Bitcoin mining and only point out the negative aspects (Elon balls deep in doge?). Huh

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Quote from: pawel7777 on April 26, 2023, 02:07:02 PM

It's also funny how some members of this forum are happy to change their opinion on WEF, SEC etc as soon as they say anything even remotely positive about Bitcoin. They are existential enemies of decentralised and censorship-resistant currencies. Let's never forget about that.

World Economic Forum is just like Bitcointalk forum except it is completely full of bitcoin haters and FED enthusiasts. Hence why nothing they talk about should be taken seriously, whether it's about bitcoin or otherwise. Most people there just make speeches impulsively so that they have something to talk about at he summit:

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In reality, the WEF is not really in favor of Bitcoin mining, on the contrary they often attack it, and in my opinion because either they don't want to go deeper or they know that Bitcoin can also solve a problem in energy efficiency but it remains inconvenient for someone

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To be sincerely, I think it no longer matter who said what and what was said about bitcoin mining, we here know the truth about bitcoin mining, and several other millions of people out there know as well, if all the negative things the world economy forum have said in the past concerning bitcoin mining have not turned people away from bitcoin, and also mining it, what makes them believe that we care about what they have to say now.?

pawel7777

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Quote from: Darker45 on April 25, 2023, 09:09:11 PM

On Crusoe Energy's part, would they have even mentioned Bitcoin mining even if it wasn't a WEF video they are making? I also doubt.

Why not though? If their main source of income is Bitcoin mining then they're probably not ashamed of it and they have vested interest to advocate for Bitcoin.
But it's very telling that they the video only refers to the vague "data centers".

It's also funny how some members of this forum are happy to change their opinion on WEF, SEC etc as soon as they say anything even remotely positive about Bitcoin. They are existential enemies of decentralised and censorship-resistant currencies. Let's never forget about that.

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Quote from: JustEmilyR on April 24, 2023, 10:21:00 PM

The World Economic Forum has finally recognized the positive effects of bitcoin mining, throwing away years of misconceptions about its environmental impact and highlighting the real benefits it brings to the economy. With this news, it is very clear that BTCitcoin mining is being recognized as a valuable and sustainable industry. Cool

Full Article : https://crypto-economy.com/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining/

This aspect of bitcoin energy and the environmental impact had been discussed already on a mega thread created by fillippone https://bitcointalksearch.org/topic/m.56613804 if you can go through the discussion, you will discover that bitcoin has in many ways being a solution to the environment than contributing to the environmental disaster in it, bitcoin mining might be proof of work but it's not the problem to the hazard in the environment, rather it is providing more solution to this lingering environmental challenges through bitcoin mining, you can discover more on the thread link provided above.

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Quote from: JustEmilyR on April 24, 2023, 10:21:00 PM

The World Economic Forum has finally recognized the positive effects of bitcoin mining, throwing away years of misconceptions about its environmental impact and highlighting the real benefits it brings to the economy. With this news, it is very clear that BTCitcoin mining is being recognized as a valuable and sustainable industry. Cool

Full Article : https://crypto-economy.com/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining/

There's nothing positive and nothing to be excited about. Rather WEF again tried to prove that bitcoin mining is harmful for the environment and shared an example on how to minimise the impact. WEF is definitely not praising the bitcoin mining industry.

It is rather showing ways on how the carbon footprint from bitcoin mining can be reduced by moving to sustainable energy source. That's it! WEF doesn't care much about economical impact.

Darker45

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Had Crusoe Energy's Lochmiller mentioned that they have been using waste methane to power their Bitcoin mining operations, would the WEF have allowed the video to come out? I doubt.

On Crusoe Energy's part, would they have even mentioned Bitcoin mining even if it wasn't a WEF video they are making? I also doubt.

There is actually nothing very special about this. This is neither a metanoia on the part of the WEF nor an effort of Crusoe Energy to somehow spread awareness about Bitcoin mining turning green.

This is far from recognizing the benefit of Bitcoin mining.

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Quote from: JustEmilyR on April 24, 2023, 10:21:00 PM

The World Economic Forum has finally recognized the positive effects of bitcoin mining, throwing away years of misconceptions about its environmental impact and highlighting the real benefits it brings to the economy. With this news, it is very clear that BTCitcoin mining is being recognized as a valuable and sustainable industry. Cool

Full Article : https://crypto-economy.com/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining/

I don't think that they will ever change their mind to favor Bitcoin. After watching the whole video I haven't found anything regarding promotion or support of Bitcoin mining. It was basically showing that how can we transfer that renewable energy that comes from wastes into energy that we can use to run data centers.

Their initiative is a positive step for data centers but I don't think that WEF will ever promote any firms that are going to favor Bitcoin or its mining. Their mindset won't allow them to accept the mining as a possible way to utilize wasted energy into something as good as Bitcoin.

pawel7777

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It's not like the WEF started to praise Bitcoin and Bitcoin mining all of a sudden. All they did was release this video:
https://www.weforum.org/videos/this-start-up-catches-waste-methane-to-power-data-centres, which doesn't even mention Bitcoin (unless I missed it), but the featured company is engaged in Bitcoin mining.
So it's only a praise for utilising a waste gas (such as methane) that can be converted into cheap energy.

WEF's have previously made negative statements on crypto mining and are demanding strict crypto regulations. I don't think this video is a sign of a change of heart.

JustEmilyR

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The World Economic Forum has finally recognized the positive effects of bitcoin mining, throwing away years of misconceptions about its environmental impact and highlighting the real benefits it brings to the economy. With this news, it is very clear that BTCitcoin mining is being recognized as a valuable and sustainable industry. Cool

Full Article : https://crypto-economy.com/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining/

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