The New York Times’ campaign against bitcoin rages on. Even though this time they had the perfect opportunity to write a balanced article, they didn’t. The author reports one positive bitcoin mining story after another, while keeping a snooty attitude and suggesting it’s all a PR move. The title summarizes the New York Times’ stance, “Bitcoin Miners Want to Recast Themselves as Eco-Friendly.”
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Before we get into it, a quick story. The foremost expert in bitcoin’s energy consumption, Nic Carter, published an exhaustive report on mining. Among other things, it contained hard data that showed to what extent China was mining using hydropower energy. Mainstream media largely ignored it. The party line was that we couldn’t trust China’s statistics. And, that China was probably burning cole.
Fast forward to last month. China banned bitcoin mining a while ago and bitcoin’s hashrate relocated, recovered, while the network functioned perfectly throughout. Most of China’s mining industry r ..
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