RFK Jr. Defends Bitcoin, Denounces Climate Concerns as 'Smokescreen' to Limit Freedom
Presidential Candidate Robert F. Kennedy (RFK) Jr. defends Bitcoin against environmental impact criticisms, asserting that opponents use it as a smokescreen to limit financial freedom.
On July 31, RFK responded to Sangha Systems director Daniel Feldman's recent Twitter thread discussing the "symbiotic relationship" between Bitcoin mining and energy generated from renewable sources.
"Bitcoin mining is a solution to improve the electric grid and lessen reliance on fossil fuels. Bitcoin and Bitcoin mining are built for this moment," Daniel wrote.
Robert F. Kennedy Jr. (RFK) acknowledged the argument that Bitcoin might not be as harmful to the environment as previously thought, commenting, "Interesting argument."
He emphasized that using environmental concerns as a pretext to restrict the freedom to transact should be avoided, stating, "At the very least, the environmental argument should not be used as a smokescreen."
According to Feldman, Bitcoin mining offers various economic benefits, contrary to popular media narratives. He believes it can improve the electric grid and reduce reliance on fossil fuels.
The growing digitized world will depend on electricity-hungry data centers powered by renewable energy, but currently, most renewable energy sites are only unprofitable with government subsidies.
Feldman advocates for a shift in the climate debate from polarization to innovation.
He criticizes how tax credits create market distortions, leading to overinvestment in renewable generation and a lack of investment in transmission and distribution infrastructure.
This results in a supply and demand imbalance for renewable energy projects.
On the other hand, Bitcoin mining creates a global market for electricity, encouraging
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