The Evolving Importance of Bitcoin Mining w/ Troy Cross, C.J. Wilson & Josh Olszewicz
Play • 1 hr 7 min

In this week’s episode of Bitcoin Bottom Line, hosts C.J. Wilson and Josh Olszewicz are joined by an expert in the crypto space, Troy Cross. He is an academic philosopher and has been a Bitcoiner since 2011. He also describes himself as an environmentalist and is not afraid of controversy. Cross discusses his opinions on ESG and believes that its critics should be listened to. “My own vision is Bitcoin having a minimal environmental impact. Bitcoin mining is constantly changing, and miners are constantly trying to find more environmentally friendly ways to mine.”

Cross describes some of the ways that miners are trying to counteract the negative impacts of Bitcoin on our environment. Some of the early members in the Bitcoin space have created a way to give us pure water from Bitcoin. They use the heat from ASIC chips to distill the water. The heat from the chip alone is not enough, but when you put water under the negative pressure of a vacuum, it will boil at a lower temperature. Once the steam condenses, you will have pure water. You can create pure water from anywhere in the world.

Wilson, Olszewicz, and Cross discuss the dangers as well as the benefits of the space. Cross states, “this is a system I believe in. It is bloody; people get hurt; it rewards efficacy and ruthlessly punishes inefficiency and leverage. It redistributes wealth in accordance with how well you manage it.” There is purity in the laws of crypto. People cannot do whatever they want and are required to stay humble. The reward at the end of this pain will be well worth it. Bitcoin encourages people to think critically and expand their minds. “If we can disagree in a way that is open-minded and civil, then we are collectively able to reach a much larger audience. We win by thinking how each one of us can help to improve the crypto space.

Listen to the full episode for more!

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DISCLOSURE: The opinions presented herein are solely of the individual and not necessarily representative of Valkyrie Investments Inc. and their affiliates. There is no guarantee that any specific outcome will be achieved. Investments may be speculative, illiquid and there is a risk of total loss of your investment. Past performance is not indicative of future results.

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