Enable Dark ModeMarketsCryptoWeb3CultureOpinionPoliticsSubscribeLoginBBC Comes Under Fire for Water Bitcoin Study30th November 2023No commentsThe BBCThe British Broadcasting Corporation (BBC) has been criticized for publishing a biased and misleading article on bitcoin's water usage.

"Every Bitcoin transaction uses, on average, enough water to fill 'a back yard swimming pool', a new study suggests," writes Chris Vallance, a technology reporter at the BBC News.

That study however is by Alex de Vries of Vrije, "the employee of DNB (the Dutch Central Bank)," says Daniel Batten, co-founder of CH4Capital and an "investor in technology that eats methane."

"Central Banks have a vested interest in spreading FUD (Fear, Uncertainty and Doubt) about Bitcoin for one very simple reason: Bitcoin disintermediates central bankers," Batten said.

The BBC presents de Vries only as of Universiteit Amsterdam, but his Linkedin says he is a "Data Scientist at DNB and researcher at the VU Amsterdam."

"De Vries has a history of making predictions which has proven wildly inaccurate. For example, in 2017 his inaccurate modeling of Bitcoin energy consumption was one of the two inputs which formed the basis of the prediction that 'Bitcoin will use all the World's power by 2020'. That didn't happen. It was inaccurate by 2509x," says Batten.

Peter Todd, a former Bitcoin Core developer, says the one swimming pool per transaction comparison "comes in part from counting water used in hydroelectric dams" that power bitcoin mining.

"Now that it is clear Bitcoin's major energy source is not coal (as De Vries had falsely claimed) but hydro, Bitcoin is suddenly bad for using too much water," Batten says.

The article was so misleading that Nicholas Gregory, the CEO at CommerceBlock, called it a "good excuse to @DefundBBC!"

The BBC, previously known for hardhitting documentaries, has opted in recent years more for showing replays and "reality" TV.

It plans to significantly downsize Newsnight, the one show that still engages in some investigative journalism.

The media is up in arms about it. "Losing BBC Newsnight’s investigation arm is bad decision," says the FT. "BBC under fire after ‘flat out bad decision’ to make big Newsnight cuts," says the Guardian among just a few.

The BBC CEO, Deborah Turness, however says audiences have apparently changed, they watch podcasts now.

But the decision to cut Newnight in half shows the current leadership at the BBC does not sufficiently appreciate investigative journalism and hardhitting news.

They're instead opting for these fluff pieces of swimming pools by a clearly biased individual, a lazy journalism not fit for a tax funded corporation.

Ethereum at least was mentioned however, "reducing its power-use by more than 99%," but lazy journalism strikes again with the article quoting Prof James Davenport, of the University of Bath who said:

"[It was] only possible because the management of Ethereum is significantly more centralised than that of Bitcoin."

The management of ethereum. Even bitcoiners will laugh at that with the University of Bath hardly known for being a bastion of blockchain tech.

They could have gotten someone from UCL, Cambridge, or even LSE. Instead they got someone who clearly does not understand crypto.

Comment

Enable Dark Mode

Enable Dark Mode

MarketsCryptoWeb3CultureOpinionPoliticsSubscribeLogin

MarketsCryptoWeb3CultureOpinionPolitics

MarketsCryptoWeb3CultureOpinionPolitics

MarketsCryptoWeb3CultureOpinionPolitics

Login

BBC Comes Under Fire for Water Bitcoin Study30th November 2023No commentsThe BBCThe British Broadcasting Corporation (BBC) has been criticized for publishing a biased and misleading article on bitcoin's water usage.

"Every Bitcoin transaction uses, on average, enough water to fill 'a back yard swimming pool', a new study suggests," writes Chris Vallance, a technology reporter at the BBC News.

That study however is by Alex de Vries of Vrije, "the employee of DNB (the Dutch Central Bank)," says Daniel Batten, co-founder of CH4Capital and an "investor in technology that eats methane."

"Central Banks have a vested interest in spreading FUD (Fear, Uncertainty and Doubt) about Bitcoin for one very simple reason: Bitcoin disintermediates central bankers," Batten said.

The BBC presents de Vries only as of Universiteit Amsterdam, but his Linkedin says he is a "Data Scientist at DNB and researcher at the VU Amsterdam."

"De Vries has a history of making predictions which has proven wildly inaccurate. For example, in 2017 his inaccurate modeling of Bitcoin energy consumption was one of the two inputs which formed the basis of the prediction that 'Bitcoin will use all the World's power by 2020'. That didn't happen. It was inaccurate by 2509x," says Batten.

Peter Todd, a former Bitcoin Core developer, says the one swimming pool per transaction comparison "comes in part from counting water used in hydroelectric dams" that power bitcoin mining.

"Now that it is clear Bitcoin's major energy source is not coal (as De Vries had falsely claimed) but hydro, Bitcoin is suddenly bad for using too much water," Batten says.

The article was so misleading that Nicholas Gregory, the CEO at CommerceBlock, called it a "good excuse to @DefundBBC!"

The BBC, previously known for hardhitting documentaries, has opted in recent years more for showing replays and "reality" TV.

It plans to significantly downsize Newsnight, the one show that still engages in some investigative journalism.

The media is up in arms about it. "Losing BBC Newsnight’s investigation arm is bad decision," says the FT. "BBC under fire after ‘flat out bad decision’ to make big Newsnight cuts," says the Guardian among just a few.

The BBC CEO, Deborah Turness, however says audiences have apparently changed, they watch podcasts now.

But the decision to cut Newnight in half shows the current leadership at the BBC does not sufficiently appreciate investigative journalism and hardhitting news.

They're instead opting for these fluff pieces of swimming pools by a clearly biased individual, a lazy journalism not fit for a tax funded corporation.

Ethereum at least was mentioned however, "reducing its power-use by more than 99%," but lazy journalism strikes again with the article quoting Prof James Davenport, of the University of Bath who said:

"[It was] only possible because the management of Ethereum is significantly more centralised than that of Bitcoin."

The management of ethereum. Even bitcoiners will laugh at that with the University of Bath hardly known for being a bastion of blockchain tech.

They could have gotten someone from UCL, Cambridge, or even LSE. Instead they got someone who clearly does not understand crypto.

Comment

30th November 2023No commentsThe BBCThe British Broadcasting Corporation (BBC) has been criticized for publishing a biased and misleading article on bitcoin's water usage.

"Every Bitcoin transaction uses, on average, enough water to fill 'a back yard swimming pool', a new study suggests," writes Chris Vallance, a technology reporter at the BBC News.

That study however is by Alex de Vries of Vrije, "the employee of DNB (the Dutch Central Bank)," says Daniel Batten, co-founder of CH4Capital and an "investor in technology that eats methane."

"Central Banks have a vested interest in spreading FUD (Fear, Uncertainty and Doubt) about Bitcoin for one very simple reason: Bitcoin disintermediates central bankers," Batten said.

The BBC presents de Vries only as of Universiteit Amsterdam, but his Linkedin says he is a "Data Scientist at DNB and researcher at the VU Amsterdam."

"De Vries has a history of making predictions which has proven wildly inaccurate. For example, in 2017 his inaccurate modeling of Bitcoin energy consumption was one of the two inputs which formed the basis of the prediction that 'Bitcoin will use all the World's power by 2020'. That didn't happen. It was inaccurate by 2509x," says Batten.

Peter Todd, a former Bitcoin Core developer, says the one swimming pool per transaction comparison "comes in part from counting water used in hydroelectric dams" that power bitcoin mining.

"Now that it is clear Bitcoin's major energy source is not coal (as De Vries had falsely claimed) but hydro, Bitcoin is suddenly bad for using too much water," Batten says.

The article was so misleading that Nicholas Gregory, the CEO at CommerceBlock, called it a "good excuse to @DefundBBC!"

The BBC, previously known for hardhitting documentaries, has opted in recent years more for showing replays and "reality" TV.

It plans to significantly downsize Newsnight, the one show that still engages in some investigative journalism.

The media is up in arms about it. "Losing BBC Newsnight’s investigation arm is bad decision," says the FT. "BBC under fire after ‘flat out bad decision’ to make big Newsnight cuts," says the Guardian among just a few.

The BBC CEO, Deborah Turness, however says audiences have apparently changed, they watch podcasts now.

But the decision to cut Newnight in half shows the current leadership at the BBC does not sufficiently appreciate investigative journalism and hardhitting news.

They're instead opting for these fluff pieces of swimming pools by a clearly biased individual, a lazy journalism not fit for a tax funded corporation.

Ethereum at least was mentioned however, "reducing its power-use by more than 99%," but lazy journalism strikes again with the article quoting Prof James Davenport, of the University of Bath who said:

"[It was] only possible because the management of Ethereum is significantly more centralised than that of Bitcoin."

The management of ethereum. Even bitcoiners will laugh at that with the University of Bath hardly known for being a bastion of blockchain tech.

They could have gotten someone from UCL, Cambridge, or even LSE. Instead they got someone who clearly does not understand crypto.

Comment

30th November 2023

30th November 2023

30th November 2023

The BBC

The British Broadcasting Corporation (BBC) has been criticized for publishing a biased and misleading article on bitcoin's water usage.

"Every Bitcoin transaction uses, on average, enough water to fill 'a back yard swimming pool', a new study suggests," writes Chris Vallance, a technology reporter at the BBC News.

That study however is by Alex de Vries of Vrije, "the employee of DNB (the Dutch Central Bank)," says Daniel Batten, co-founder of CH4Capital and an "investor in technology that eats methane."

"Central Banks have a vested interest in spreading FUD (Fear, Uncertainty and Doubt) about Bitcoin for one very simple reason: Bitcoin disintermediates central bankers," Batten said.

The BBC presents de Vries only as of Universiteit Amsterdam, but his Linkedin says he is a "Data Scientist at DNB and researcher at the VU Amsterdam."

"De Vries has a history of making predictions which has proven wildly inaccurate. For example, in 2017 his inaccurate modeling of Bitcoin energy consumption was one of the two inputs which formed the basis of the prediction that 'Bitcoin will use all the World's power by 2020'. That didn't happen. It was inaccurate by 2509x," says Batten.

Peter Todd, a former Bitcoin Core developer, says the one swimming pool per transaction comparison "comes in part from counting water used in hydroelectric dams" that power bitcoin mining.

"Now that it is clear Bitcoin's major energy source is not coal (as De Vries had falsely claimed) but hydro, Bitcoin is suddenly bad for using too much water," Batten says.

The article was so misleading that Nicholas Gregory, the CEO at CommerceBlock, called it a "good excuse to @DefundBBC!"

The BBC, previously known for hardhitting documentaries, has opted in recent years more for showing replays and "reality" TV.

It plans to significantly downsize Newsnight, the one show that still engages in some investigative journalism.

The media is up in arms about it. "Losing BBC Newsnight’s investigation arm is bad decision," says the FT. "BBC under fire after ‘flat out bad decision’ to make big Newsnight cuts," says the Guardian among just a few.

The BBC CEO, Deborah Turness, however says audiences have apparently changed, they watch podcasts now.

But the decision to cut Newnight in half shows the current leadership at the BBC does not sufficiently appreciate investigative journalism and hardhitting news.

They're instead opting for these fluff pieces of swimming pools by a clearly biased individual, a lazy journalism not fit for a tax funded corporation.

Ethereum at least was mentioned however, "reducing its power-use by more than 99%," but lazy journalism strikes again with the article quoting Prof James Davenport, of the University of Bath who said:

"[It was] only possible because the management of Ethereum is significantly more centralised than that of Bitcoin."

The management of ethereum. Even bitcoiners will laugh at that with the University of Bath hardly known for being a bastion of blockchain tech.

They could have gotten someone from UCL, Cambridge, or even LSE. Instead they got someone who clearly does not understand crypto.

Comment

The British Broadcasting Corporation (BBC) has been criticized for publishing a biased and misleading article on bitcoin's water usage.

"Every Bitcoin transaction uses, on average, enough water to fill 'a back yard swimming pool', a new study suggests," writes Chris Vallance, a technology reporter at the BBC News.

That study however is by Alex de Vries of Vrije, "the employee of DNB (the Dutch Central Bank)," says Daniel Batten, co-founder of CH4Capital and an "investor in technology that eats methane."

"Central Banks have a vested interest in spreading FUD (Fear, Uncertainty and Doubt) about Bitcoin for one very simple reason: Bitcoin disintermediates central bankers," Batten said.

The BBC presents de Vries only as of Universiteit Amsterdam, but his Linkedin says he is a "Data Scientist at DNB and researcher at the VU Amsterdam."

"De Vries has a history of making predictions which has proven wildly inaccurate. For example, in 2017 his inaccurate modeling of Bitcoin energy consumption was one of the two inputs which formed the basis of the prediction that 'Bitcoin will use all the World's power by 2020'. That didn't happen. It was inaccurate by 2509x," says Batten.

Peter Todd, a former Bitcoin Core developer, says the one swimming pool per transaction comparison "comes in part from counting water used in hydroelectric dams" that power bitcoin mining.

"Now that it is clear Bitcoin's major energy source is not coal (as De Vries had falsely claimed) but hydro, Bitcoin is suddenly bad for using too much water," Batten says.

The article was so misleading that Nicholas Gregory, the CEO at CommerceBlock, called it a "good excuse to @DefundBBC!"

The BBC, previously known for hardhitting documentaries, has opted in recent years more for showing replays and "reality" TV.

It plans to significantly downsize Newsnight, the one show that still engages in some investigative journalism.

The media is up in arms about it. "Losing BBC Newsnight’s investigation arm is bad decision," says the FT. "BBC under fire after ‘flat out bad decision’ to make big Newsnight cuts," says the Guardian among just a few.

The BBC CEO, Deborah Turness, however says audiences have apparently changed, they watch podcasts now.

But the decision to cut Newnight in half shows the current leadership at the BBC does not sufficiently appreciate investigative journalism and hardhitting news.

They're instead opting for these fluff pieces of swimming pools by a clearly biased individual, a lazy journalism not fit for a tax funded corporation.

Ethereum at least was mentioned however, "reducing its power-use by more than 99%," but lazy journalism strikes again with the article quoting Prof James Davenport, of the University of Bath who said:

"[It was] only possible because the management of Ethereum is significantly more centralised than that of Bitcoin."

The management of ethereum. Even bitcoiners will laugh at that with the University of Bath hardly known for being a bastion of blockchain tech.

They could have gotten someone from UCL, Cambridge, or even LSE. Instead they got someone who clearly does not understand crypto.