There is a new Bitcoin (BTC) energy FUD around: noise. In Sortland, a Norwegian town, locals are waging fight against Bitcoin miners to thwart further BTC mining developments. Their latest protest against proof-of-work (Bang) mining is the fact that it’s loud.
It isn’t enough that Bitcoin miners in Sortland use 100% alternative energy, create jobs as well as use waste heat in the Bang tactic to dry up timber and seaweed for local companies they have to achieve this silently.
Kjetil Hove Pettersen, Chief executive officer at local KryptoVault, described that could be another situation of media spin aiming at Bitcoin. He described the problem to Cointelegraph:
“It is often the negative voices that make the most media attention this doesn’t think about all local opinions.”
Pettersen detailed that grid proprietors are, actually, pleased to host Bitcoin miners–as Bitcoin miners assistance to balance grids (as lately proven in Texas)–and that “There’s a political or social cost to be blunt about this in the current climate.” The false narratives that media create aren’t new, based on Pettersen:
“[…] The narrative that we’re suppressing other industry establishments by utilizing (the skeptics make use of the word “wasting”) a lot energy, during fact, the alternative holds true. We sometimes are charged with driving in the energy cost, that also isn’t true.”
Arcane Research analyst Jaran Mellerud and regular Cointelegraph contributor described: “Northern Norwegian includes a massive electricity surplus because of little local demand and limited transmission capacity.” In northern Norwegian, where Sortland is situated, energy pricing is really low, and stranded hydropower is, actually, abundant.
Pettersen listed the advantages of Bitcoin mining as adding more revenue to local municipalities’ power grids while supporting grid balance decreasing the overall grid charges for consumers creating jobs earning earnings for that Norwegian treasury as Bitcoin miners pay taxes and lastly, adding to Norway’s national trade balance. That’s and not mention the direct results of Bitcoin mining, securing the world’s largest cryptocurrency.
Pettersen conceded the Bitcoin industry has “A large amount of try to do in telling our story, and dispelling myths and misconceptions.” Bitcoin supplies a lifeline to a lot of round the world–especially in the global south–but the narrative that Bitcoin mining uses more energy than neighboring Finland is constantly on the compel mainstream media publications.
Related: Seven occasions Bitcoin miners made the planet a much better place
Much like Pettersen, for Mellerud, it’s an issue of storytelling and narratives. He sums up succinctly, “Municipalities in northern Norwegian should appreciate Bitcoin mining in an effort to refine the facility in your area.” He ongoing:
Bitcoin mining facilities create local jobs while increasing the earnings for that municipalities because they frequently own the neighborhood power-generating companies.”
Regrettably, narratives that demonize Bitcoin mining and consumption still make headlines. Noise might be next.
