Bitcoin

The European Commission (EC) is at the center of a brewing storm within the cryptocurrency community. Its proposed methodology for assessing Bitcoin's environmental impact has raised alarms, potentially leading to an EU-wide ban on Bitcoin mining, according to <a href="https://bitcoinist.com/bitcoin-risk-european-commission-concern-mining-ban/" rel="noopener noreferrer nofollow">Bitcoinist</a>.
Daniel Batten, co-founder of CH4 Capital, is a vocal critic of the EC's approach. He argues that the EC's method of measuring crypto-assets' resource consumption "per transaction" is unscientific, ignoring Bitcoin's positive environmental externalities. This concern stems from the EC's reliance on reports funded by Central Banks and others, which Batten claims are biased against Bitcoin.
Batten challenges the EC's methodology, which was previously critiqued by Cambridge University in 2018. He suggests that the EC's real aim might not be sustainability but protecting established interests threatened by Bitcoin. If the EC's approach stands, Bitcoin could be labeled an "environmentally harmful asset."
In defense of Bitcoin's environmental footprint, Batten urges the crypto community to draft a submission highlighting Bitcoin's net environmental benefits. This submission should demonstrate a balanced view, recognizing both positive and negative externalities of Bitcoin mining.
He also calls for the debunking of reports, like those from Greenpeace, which currently influence the EU's stance on Bitcoin's environmental impact. Batten suggests countering these reports with evidence showing their falsehoods or inaccuracies.
Batten's call to action is a rallying cry for the crypto community to defend Bitcoin's role in promoting economic sovereignty and decentralization. He encourages the community to mobilize and use their knowledge to oppose the EC's proposed regulations effectively.

EU’s Potential Bitcoin Mining Ban Stirs Controversy

Ultramining_Eng

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