Bitcoin Firebrands Michael Saylor And Max Keiser Counter Critics About Bitcoin Energy Consumption

It’s been just revealed that Bitcoin bulls Michael Saylor and Max Keiser are defending Bitcoin these days from the critics who are blasting BTC for the energy consumption.

Some are seeing BTC as a wasteful energy consumer, but Saylor, who currently heads business intelligence firm MicroStrategy, argued that Bitcoin’s use of energy is what has kept the decentralized network security for more than ten years and enabled its adoption on a global scale.

“Am I concerned about the use of energy in Bitcoin, no actually. I feel like Bitcoin is protected by a wall of encrypted energy and the fact that there’s a lot of energy involved I think is a good thing. It creates security for the network,” Saylor said.

He continued and said: “If we had 12 servers… and we were trusting those 12 servers to protect $200 billion I would think that’s much riskier. I’m not really interested in finding quick eloquent cheap shortcuts to protecting all the money in the world.”

BTC is heading towards a more energy-efficient solution

The online publication the Daily Hodl notes that Keiser addressed the reasons for which he believes BTC will likely lead the world towards a more energy-efficient solution for protecting the world’s money.

“People say what backs the dollar? And according to [economist] Paul Krugman in the NY Times, he says the Pentagon or men with guns. The Pentagon, just to keep the Pentagon fueled with gas for their tanks, jets, etcetera is $250 million a day…” Keiser said.

He continued and said: “The US foreign policy is we want you to start using the dollar and if you don’t we’re going to bomb and murder your people. That’s our foreign policy. That’s what it’s been for decades and that’s all very inefficient.”

There are all kinds of optimistic Bitcoin predictions these days so stay tuned for more news.

Previous ArticleNext Article
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.
>