The Environmental Protection Agency or EPA retains receiving mail. This time, 14 members of Congress supplied the counterpoint and singled out the environmental advantages of bitcoin mining. They additionally made a degree about how essential this business is, and the injury the USA would inflict on itself by banning it. Plus, they schooled the EPA on the quantity of renewable source-based power already in play all around the business.<\/span><\/p>\n BREAKING: 14 members of Congress ship letter to the EPA, informing them of the helpful environmental and monetary impacts of #Bitcoin<\/a> Proof-of-Work mining. pic.twitter.com\/LCrZ1nhgd9<\/a><\/p>\n \u2014 Dennis Porter (@Dennis_Porter_) June 16, 2022<\/a><\/p>\n<\/blockquote>\n Podcaster and bitcoin cultural commentator Dennis Porter broke the information and supplied the total textual content. It begins with a bang, the instead-of-flaring pure gasoline argument. \u201cAs you know, a substantial portion of digital asset miners\u2019 energy use is based on renewable sources. Additionally, many miners use other power sources, like natural gas, that may otherwise go unused.\u201d Using gasoline that in any other case could be flared is greater than carbon-neutral or net-zero, it\u2019s successfully local weather optimistic.<\/span><\/p>\n Then, the 14 members of Congress hit the EPA with real-life outcomes. \u201cBitcoin mining that utilizes flared gas is also reducing methane emissions in Texas, New Mexico, Colorado, West Virginia, Ohio, and North Dakota.\u201d It\u2019s as ESG Analyst and <\/span>ClimateTech VC, Daniel Batten\u2019s recent study<\/span><\/a> places it:\u00a0<\/span><\/p>\n \u201cAnd Batten and company say that\u2019s \u201cthe only way\u201d as a result of the bitcoin mining business\u00a0 has \u201cthe unique combination of being location-agnostic, mobile and interruptible makes Bitcoin mining the only economically feasible use case for the two major sources of leaking methane emissions examined in this paper.\u201d<\/span><\/p>\n<\/blockquote>\n Besides obsoleting methane flaring, bitcoin mining has one other concrete profit that the EPA may need to learn about: stabilizing the grid. \u201cDigital asset mining can have a substantial stabilizing effect on energy grids. It maintains robust baseload levels, yet it can be switched off quickly in times of peak demand.\u201d<\/span><\/p>\n One factor\u2019s for positive, governments can\u2019t actually ban bitcoin mining. They can solely ban themselves from bitcoin mining. Does that present a web profit for the nation that tries? Or does it simply damage the residents and put them at a transparent drawback? The textual content from the 14 Congress members to the EPA is barely in regards to the USA, however individuals from different nations may need to take notes.<\/span><\/p>\n \u201cMost importantly, digital assets, and their related mining activities, are essential to the economic future of the United States. Other countries are rapidly moving to adopt digital assets and are attracting large amounts of capital and talent in the hopes of growing their own financial services sectors as digital assets and distributed ledger technology are widely adopted in the coming decade.\u201d<\/span><\/p>\n<\/blockquote>\n What \u201cother countries\u201d are they referring to right here? Could it’s El Salvador, the little engine that would? Or are they talking in regards to the Central African Republic, which simply began its bitcoin journey? The \u201ccoming decade\u201d might be fascinating, to say the least. Then, the 14 members of Congress shock the world by not throwing Proof-Of-Stake methods below the bus in entrance of the EPA.<\/span><\/p>\n \u201cTreasury Secretary Yellen articulated it best last week when she stated regulation should also be \u201ctech neutral.\u201d Favoring one know-how over one other, together with proof-of-work versus proof-of-stake, can stifle innovation, erode future financial good points, and restrict affiliated efficiencies.\u201d<\/span><\/p>\n<\/blockquote>\n Let the market determine, EPA. Do it for innovation.<\/span><\/p>\n The 14 members of Congress finish their EPA plea with a patriotic tone:<\/span><\/p>\n \u201cAmerican leadership in digital asset technologies is essential to ensuring the next generation of Americans can enjoy the prosperity and opportunity that our country has been blessed with. As you evaluate the potential environmental issues surrounding digital assets, the critical role that responsible innovation will play in our long-term economic future cannot be overlooked.\u201d<\/span><\/p>\n<\/blockquote>\n That makes rather more sense if you notice that this letter is a response to a earlier one the EPA acquired. In April, different members of Congress confirmed their lack of trustworthy analysis<\/span> in an embarrassing letter<\/span><\/a> that\u2019s filled with lies like this few:\u00a0<\/span><\/p>\n \u201cPoW-based cryptocurrencies include Bitcoin, Ethereum, Monero, and Zcash. A single Bitcoin transaction could power the average U.S. household for a month. According to estimates by researchers, Bitcoin produces annually carbon emissions comparable to Greece.\u201d<\/span><\/p>\n<\/blockquote>\n How can the individuals in cost use ridiculous and evidently debunked statements like, \u201ca single Bitcoin transaction could power the average U.S. household for a month\u201d? Are they not conscious that Digiconomist, the uncredited supply, works for the Dutch Central Bank? Conflict of curiosity apart, his numbers won’t ever add up. Because they\u2019re lies.<\/span><\/p>\n In any case, the Bitcoin Mining Council responded to that letter\u2019s wild inaccuracies in a second letter to the EPA signed by the likes of Michael Saylor and Jack Dorsey. They didn\u2019t cowl the advantages that the bitcoin mining business gives the world, although. And that\u2019s why this third letter was essential.<\/span><\/p>\n\n
\n
Does The EPA Care About The Economic Future Of The USA?<\/span><\/h2>\n
\n
\n
![\"BTCUSD](\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2022\/06\/BTCUSD_2022-06-18_16-09-42-640x356.png\")
<\/p>\nBTC worth chart for 06\/18\/2022 on BinaceUS | Source: BTC\/USD on TradingView.com<\/a><\/pre>\n
This Is The Third Letter The EPA Gets<\/span><\/h2>\n
\n
\n
Featured Image by jplenio<\/a> from Pixabay<\/a> | Charts by TradingView<\/a><\/pre>\n
![\"Methane,](\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2022\/05\/industry-g1648744fa_1280-542x420.jpg\")
<\/p>\n<\/p><\/div>\n