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Nic Carter ‘disappointed’ by lack of original research in White House report on Bitcoin mining

Peter McCormack and Coinmetrics co-founder Nic Carter argued that the “White House is wrong about Bitcoin mining” during the latest episode of WhatBitcoinDid.

The report in question was one of several commissioned by President Biden via an Executive Order in March.

Carter claimed that the White House reached out to him for comment on the report, but they “didn’t listen” and “disregarded everything” he had to say. He added:

“[The White House] are not completely unaware of what Bitcoiners have to say about mining. They’re just very dismissive of those things.”

Further, Carter alleged that the report “disparaged a lot of the mitigating factors” that Bitcoiners have raised against criticisms of Bitcoin mining. He was also “disappointed” by the lack of apparent original research in the report claiming it simply rehashed historical arguments that the Bitcoin community has addressed.

While Carter asserted that other tech industries also receive scrutiny over energy usage, he believes that Bitcoin received “disproportionate attention” regarding the matter. On this topic, Carter stated that the report’s conclusion posited that Bitcoin miners should be held to higher standards than other industries in terms of net energy usage and consumption.

Carter was also critical of the Biden administration’s approach to ESG initiatives by reducing domestic gas production within the U.S. amid a global energy crisis. He argued that there is

“An incredible abundance of energy within this country, and it’s not really being taken advantage of. Instead we’re in a weaker position and having to go to countries that don’t like us very much and beg them to increase production.”

Carter said he is not a fossil fuel advocate and does believe that the world needs an energy transition, but at the moment, “it’s being done in an imprudent way.”

Carter also discussed the energy issues where Bitcoin is taking advantage of inefficiencies in the energy sector. Gas flaring is a process by which natural gas is burnt and thus wasted due to a lack of…


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