Maximalists at the movies: Bitcoiners crowdfunding anti-FUD documentary film

As the headlines pile up about Bitcoin’s calamitous environmental affect, one group of traders and supporters have stepped as much as the plate to defend the world’s largest digital asset with the assist of a crowdfunded, FUD-fighting documentary film. 

First introduced by investor, podcast host, and Bitcoin fanatic Brad Mills on Twitter, the aim of the film is to behave as a “definitive” argument for “why Bitcoin will transition the world to renewable energy faster than governments.”

Mills’ alternative of director is Jamie King, greatest identified for STEAL THIS FILM — a documentary collection about BitTorrent and one among the earliest examples of a crowdfunded, free-to-share effort. In an interview with Cointelegraph, King stated that the narrative about Bitcoin’s vitality consumption pushed him into motion. 

“The idea for this new project, which we’re raising funds for right now, came about as a result of the increasing amount of attention being paid to Bitcoin’s energy usage,” King stated. “Obviously this came to a head with Elon’s announcement about not accepting BTC for his cars for the time being — but it’s also a piece of ‘FUD’ we’re seeing repeated with greater and greater intensity.”

Earlier in the week, billionaire Elon Musk Tweeted that his firm Tesla would no longer accept Bitcoin for payments — a remark that set off accusations of hypocrisy, however whose contents had been echoed loudly in the mainstream media.

Despite Elon’s gripes, specifics about how a lot “dirty” vitality Bitcoin consumes is tough to calculate, nonetheless, and even estimates based off of Chinese consumption might solely paint a tough image.

Regardless, King and crew aren’t attempting to argue that Bitcoin is clear, inexperienced tech.

“I think it’s important to acknowledge Bitcoin uses energy. A lot of it. That’s part of its design,” says King. “The question we need to ask is: is it worth it.

King stated that those that instinctively reply “no” to that query seemingly haven’t achieved their analysis, and that “in a broader social, political and economic context” the case for Bitcoin’s energy consumption is self-evident. 

So far the neighborhood has responded warmly, elevating .5 BTC in simply 48 hours. King additionally notes that whereas Bitcoin’s Lightning Network hasn’t seen the adoption some hoped for, after the mission opened as much as Lightning donations small backers started pouring in.

“I guess what we can see is that Lightning is very real for small Bitcoin donations, I’m glad to say,” he joked.

In the finish, King’s aim isn’t to fling mud again at the FUD-sters, however as an alternative to teach and elevate.

“I don’t just want to counter the idea that this is a ‘waste of energy’, but make something that inspires people about just what an amazing thing Bitcoin is. FUD-busting with a higher purpose!”