‘Skull of Satoshi’ Creator Turns Optimistic on Bitcoin Mining With Renewable Energy

2023-3-27 15:00

Environmental art activist and the creator of the ‘Skull of Satoshi,’ Benjamin Von Wong, took to Twitter to promote sustainable art and show optimism about Bitcoin mining using green energy. He also went on to protect his publication in the face of mounting criticism.

The Canadian artist released the ‘Skull of Satoshi’ artwork on March 23. The release was part of Greenpeace’s continuing “change the code, not the climate” campaign.  

Wong Says Piece Not ‘Anti-Bitcoin’

Benjamin Von Wong tweeted that his ‘Skull of Satoshi’ artwork was never meant to be anti-Bitcoin.

He said, “It was an optimistic hope that Bitcoin could shift away from the needless burning of fossil fuels…” Wong expressed optimism about the switch without Bitcoin losing its safety and decentralization.

Thurs evening, I was sad.
I had just spent 6 months pouring my heart and soul into building an amazing installation to inspire real change for something few seemed to care about. Then, Bitcoin Twitter noticed the #SkullOfSatoshi, and the rollercoaster began.
Here’s my story /1 pic.twitter.com/mhwrV8Zq4B

— Von Wong (@thevonwong) March 25, 2023

Amid the ongoing debate over the negative effects of Bitcoin mining, the commissioned artwork caught the attention of the meme army.

Wong defended his work by claiming that he created the Skull, assuming Bitcoin mining had a straightforward, binary problem. The creator refrained from labeling it a black-and-white issue. However, he stated that PoW ‘felt intuitively wasteful.’

In honor of the Skull of Satoshi:

I'll repost this:

Bitcoin isn't melting Greenland pic.twitter.com/PS2rco5esj

— Pi Prime Pi (@PiPrimePi) March 24, 2023

However, Wong acknowledged that “Skull of Satoshi” suggests that Bitcoin has the potential to be more environmentally friendly.

A Push for Renewable Mining

At the time of the artwork release, Greenpeace said it was a visual reminder to Bitcoin’s supporters about its environmental impact. The organization said it would use the Skull of Satoshi to urge Bitcoin to change its code and insist that financial institutions uphold their climate commitments.

Wong pointed out that Greenpeace thinks there will eventually be a ‘better’ form of Bitcoin with all the benefits and none of the environmental drawbacks. In light of this, the artist urged, “Instead of fighting it, join it and improve it from within. Work within the system of existing incentives.”

Wong made the plea despite some Bitcoiners believing that the network will only alter its code if there is an existential threat to the network itself. He explained, “If BTC miners help to invest in renewables like wind & solar to move the world off a reliance on fossil fuels then the GP campaign will have nothing to run on.”

BeInCrypto previously noted, citing ARK’s research, that increasing solar capacity by 4.6 times could satisfy over 99% of customer demand. All this while keeping Bitcoin’s profitability.

On March 27, a clean Bitcoin renewable energy offset was effectively minted as an Ordinal NFT. The Carbon.Credit exchange said in a release that the product would be traded as Clean Bitcoin (CBTC).

Last year, Ethereum transitioned from PoW to proof of stake (PoS) via The Merge on its mainnet.

The post ‘Skull of Satoshi’ Creator Turns Optimistic on Bitcoin Mining With Renewable Energy appeared first on BeInCrypto.

origin »

Happy Creator Coin (HCC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 HCC

bitcoin mining skull energy satoshi creator renewable

bitcoin mining → Результатов: 126


Фото:

Bitcoin mining CEOs agree on $250k price target for 2028 halving

Bitcoin mining executives from top firms gathered at the HC Wainwright Bitcoin Mining Panel on Sept. 10 to discuss industry trends, challenges, and the future of Bitcoin. The panel, moderated by Anthony Scaramucci of SkyBridge Capital, featured CEOs from prominent mining companies, including Bit Digital, Bitfarms, CleanSpark, Core Scientific, and Marathon Digital Holdings.

2024-9-12 14:15


Фото:

Bitcoin Mining Emissions – Surprise New Research Findings

As the need to be more eco-friendly becomes ever more apparent, cryptocurrencies have often been sharply criticized for their environmental impact. Being the most well-known of them, Bitcoin has inevitably become tainted with a reputation for the high resource usage required for Bitcoin mining, However, newly released research might paint a slightly different picture and could start changing perceptions around these issues.

2024-9-10 15:17


Bitcoin’s Tightrope: Lower Mining Rewards And Fees Threaten Market Stability — Kaiko

Recent developments in the Bitcoin mining industry suggest a significant financial squeeze due to decreased network fees and halved block rewards. These factors are shaping the economic space for companies validating Bitcoin transactions and could potentially force some into selling their digital assets prematurely to remain solvent, according to Kaiko Research. Related Reading: Germany Shakes […]

2024-7-3 08:00


Is Bitcoin Mining ‘Dangerously Centralised’? What New Research Shows

Recent findings from BitMEX Research have reignited concerns about the centralization of Bitcoin mining. Their study, which cites insights from Bitcoin analyst Alex Bergeron, points out that a single entity now controls the Coinbase outputs for approximately 47% of the network hashrate—a significant concentration that suggests a shift toward oligopolistic tendencies within the Bitcoin mining […]

2024-4-30 12:00


Фото:

The future of Bitcoin mining post-halving, according to GoMining

The phenomenon of the Bitcoin halving is a cornerstone event in the crypto world, fundamentally altering the economic landscape for miners and investors alike. Occurring approximately every four years, this event reduces the reward for mining new Bitcoin blocks by half, a mechanism designed to control the supply of Bitcoin and mimic the scarcity-driven value […] The post The future of Bitcoin mining post-halving, according to GoMining appeared first on CryptoSlate.

2024-3-26 17:30


From Missouri to Texas: Southern US Becomes Bitcoin Mining Hotspot

Missouri is gunning to become a hub for Bitcoin mining, thanks to a new bill by State Rep. Phil Christofanelli. This legislation, aiming to integrate cryptocurrency miners into the energy economy, joins CleanSpark's expansion in Mississippi and Riot's massive investment in Texas, signaling a significant shift in the Southern US towards embracing digital asset ventures.

2024-2-9 14:00


Bitcoin Community Accuses BBC Of Sensationalism In Controversial Mining Article

A recent article published by the BBC has sparked a heated debate among cryptocurrency enthusiasts and critics regarding the environmental impact of Bitcoin (BTC) mining.   The piece, titled “Every Bitcoin payment ‘uses a swimming pool of water,’” raised concerns about the water consumption associated with the mining process.

2023-12-2 03:00