Good morning lions I hope you're having a wonderful weekend and catching up on all the crypto news across the world.
Some interesting developments have occurred in New York which I had previously reported on. It was in regards to Greenidge turning on a power plant to mine crypto and a US Senator submitting a bill that would have effectively shut down the mining operation to ensure environmental assessments are conducted.
The bill was submitted by senator Kevin Parker and I remember reading this article and I was concerned. My commentary and opinion on the matter was that I am pro environmental but I support jobs first. You can not have a healthy environment without employment. And it appears I am not alone in my view and beliefs which is why I was excited to see that the bill which was submitted and passed in the state senate but was defeated in the assembly you can see the bill Here
The bill in my opinion which appeared good to ensure environmental impacts were addressed it was a little to strong in that it would have shut down and prevented future bitcoin mining facilities commencing in New York. Understanding that the world wants to reduce carbon emissions and we don't want to undo current progress.
However, in my opinion if the developed world doesn't take bitcoin mining seriously it will end up in 3rd world countries which do not have emissions reduction targets.
The initial debate surrounding bitcoin from lobby groups was based around their opinion which I can understand, I too have my scepticism about it and it's legitimacy. However, when making important policy decisions surrounding employment and economics once opinion needs to be removed.
The main argument is that Bitcoin is fake, where this may have been the case previously it is being used, it does have a growing community and there are nations driving it. Regardless of opinion policy makers need to enact policies that are sound and work and not based on opinion.
Furthermore, climate risk assessments indicate that we are on track to reduce global emissions and we've been doing a great job. Which is why developed nations need to ensure emerging technologies are supported and not shut down.
The International Brotherhood of electrical workers union saw it the same way and given the current economic and employment challenges brought on by COVID19 see this new industry as a life saver to workers which have provided people with a means to put food on the table of their families.
Some criticism has been thrown around and it is really frustrating in my opinion. As someone who has grown up in an industrial community, coming from the working class I always disliked those who have high incomes, not aligned to the struggles experienced by many throwing down there 2 cents on things that do not or will not impact them financially. It's not them off to get unemployment benefits and then attacked by the broader community for being welfare cheats or ridiculed for being on welfare.
The majority of people want employment the majority of people want to contribute to society in a positive manner and removing that ability from them significantly impacts everyone and them more than anyone.
Yes we need environmental protection but that is not the workers job and lobby groups should be refocusing their attacks on forcing industry and governments to invest in renewable energy to enable these families to continue working not calling for their jobs.
I stand in Solidarity with the works ✊🏽
I further call for environmental groups to stand united and seek renewable energy investment not shut downs.
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