Five Bitcoin Short Films For A Lazy Holiday Evening: Energy, Money, &… Basket?

Happy Holidays from the NewsBTC team. We come bearing gifts. The cure for those suffering from cryptocurrency withdrawal syndrome. Spend the evening learning about Bitcoin in the most relaxed way possible. These five films were released throughout 2021 and contain the alpha everyone needs for the years ahead. At least the first four do, the fifth one has nothing to do with Bitcoin except for one small detail.

Related Reading | The First Interactive NFT in the World – VR Movie on Mars

Our sister site Bitcoinist covered the films and most of the accompanying text comes from those articles. Is there a better time for these films to make an appearance in NewsBTC than this lazy evening? Grab your beverage of choice, heat up those leftovers, and hit play in the one that interests you the most. Chances are you’ll end up watching them all.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Once again, happy holidays and happy watching!

Bitcoin Short #1- “This Machine Greens” (38 mins)

Is Bitcoin mining’s energy consumption a bug or a feature? This documentary’s “thesis is that the process is “a net positive for the environment.” The aim was to “dispels many of the misconceptions about Bitcoin mining.” Directed by  Jamie King, of “Steal This Film” fame, and produced by Enrique Posner and Swan Bitcoin. 

[embedded content]

From the Bitcoinist’s coverage, in Part 1 they focus on the Petrodollar system:

Get 110 USDT Futures Bonus for FREE!

“Watch “This Machine Greens” to learn how the US Military literally backs the Petrodollar. And, of course, the US Military uses infinite energy year after year. Learn about the deal that the US made with Saudi Arabia. The US was to protect the Middle East. The Saudis promised that “The global oil market will be denominated in and conducted with dollars. Ensuring a constant global demand for the currency.” Think about the results of this crucial deal.”

From Bitcoinist’s coverage, in Part 2 they explain how Bitcoin mining will fund green energy initiatives:

“According to Alex Gladstein, Bitcoin can fund the “Electrification of new areas and creation of new economic activity.“ This machine greens, if you will. And if we’re talking infrastructure for clean energy, Magdalena Gronowska breaks it down:

 “It’s derisking constructions of renewable energy facilities. It’s derisking it because it’s willing to buy 24/7, 365. And when you have a predictable buyer, a predictable revenue stream, it’s easy to plan out your operations. And that certainty means that that site gets built.”

Bitcoin Short #2- “Human B” (73 mins)

This recent German documentary is one of the best introductions to Bitcoin produced to date. On top of that, directors Aaron Mucke and Eva Mühlenbäumer created a slick audiovisual piece that flows like a river and is an aesthetical pleasure to watch. 

[embedded content]

In Bitcoinist’s coverage of the documentary, they introduce it like this:

“Human B” shows us how people in Germany and Austria view the Bitcoin phenomenon. This is a worldwide movement, and it’s important to listen to all the voices out there. In the documentary, we get to hear from Bitcoin authors like Der Gigi and Anita Posch. From economist and punk rocker Marc Friedrich and journalist Friedemann Brenneis. Plus, from a normal person like Jan, who ends up being the star of the show.

The documentary takes a surprising left turn when it travels to Caracas, Venezuela. There, we hear from Alessandro Cecere AKA El Sultán del Bitcoin, and from Juan José Pinto from Doctorminer.”

#3- “Hard Money” (34 mins)

This one is not about Bitcoin per se. This Bitcoin short is about money. To understand why Bitcoin is so important for the planet, people might need a refresher course on what money actually is.  This documentary is analogous to the first few chapters of Saifedean Ammous’ “The Bitcoin Standard,” and features sound bites from some of the most important Bitcoin philosophers out there. Directed by Richard James.

[embedded content]

In Bitcoinist’s coverage of the film, they convince you to watch it with this:

“Watch the “Hard Money documentary and you’ll be able to answer these questions: Why was gold chosen as the premier form of hard currency? What were gold’s “severe flaws”? What is inflation and how does the government hide it? How breaking the relationship between the Dollar and gold broke the relationship between the market and reality. What is low and high time preference?  What does fractional reserve banking create? Why are the institutions that issue debt effectively printing new money?”

BTCUSD price chart for 12/25/2021 - TradingView

BTC price chart on Bitbay | Source: BTC/USD on TradingView.com

Bitcoin Short #4- “Bitcoin Is Generational Wealth” (15 mins)

This one is not a documentary, even though it uses some of the genre’s techniques. Also, this is the only specimen on this list that didn’t get a positive review from Bitcoinist. Why is that? We won’t spoil it for you. Watch the film first and then read the linked text. Directed by Matt Hornick. Written and narrated by Tomer Strolight.

[embedded content]

In Bitcoinist’s bad review of the film, we find this quote:

“Half speculative fiction, half predictive programming, “Bitcoin is Generational Wealth” is in a genre of its own. Using high-quality stock footage to produce a professional montage, the film should work. But it doesn’t. Is the script to blame? Probably. The film shows an idyllic future that every Bitcoiner has dreamt about, but it doesn’t explain how we get there. It takes the “Bitcoin fixes this” meme to its ridiculous extreme.”

#5- “Lynchpin” (21 mins)

This one is about amateur basketball. Its only link to Bitcoin is that Swan and the Bitcoin Movie Club financed and produced it. Is this the first of many or a one-time thing? Word on the street is that the companies will finance several chapters of this story, but don’t quote us on that. “Lynchpin” was supposed to be a TV show, so it sounds possible on that end. We’ll keep you all posted. Directed by Mike Nicoll.

[embedded content]

In Bitcoinist’s presentation of the short film, they introduced it as follows:

“Compton Magic’s Etop Udo-Ema, “America’s most recognized basketball powerbroker,” is “Lynchpin’s” star. Before Covid hit, this charismatic man receives an offer that he can’t refuse. The whole short film follows him trying to change sponsors and create a league. That carries Etop to Roc Nation and its boss Jay Z, who happens to be Puma’s creative director. The whole enterprise seems to be on its right track. No one could predict the monkey wrench that hit the world’s engines.”

Related Reading | Miramax Sues Quentin Tarantino Over “Pulp Fiction” NFTs. Tarantino Moves Forward

And that’s enough Bitcoin for tonight. Happy holidays!

Featured Image by Bru-nO on Pixabay | Charts by TradingView

Source

Tagged : / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /

Lessons From Reason’s “The Fake Environmentalist Attack on Bitcoin” Mini-Doc

Phenomenal piece by Reason Magazine. We at NewsBTC have been countering the Bitcoin is bad for the environment narrative for a while now. Now, we have a new tool. A short and sweet documentary that rests on a devastating premise. “Such environmentalist attacks on bitcoin are best understood as a strategy by economic, media, and political elites to undermine a powerful new form of money that they can’t control.” Boom! That’s exactly what’s happening.

Related Reading | Bitcoin Mining Vs. The World: BTC Leads Sustainable Energy

Let’s explore the idea further, but first, let’s let Reason Magazine define who they are and what they stand for:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

“Reason is the planet’s leading source of news, politics, and culture from a libertarian perspective. Go to reason.com for a point of view you won’t get from legacy media and old left-right opinion magazines.”

You’ve been warned. This is the perspective you’ll get from this article and from “The Fake Environmentalist Attack on Bitcoin” Mini-Doc:

[embedded content]

The mini-documentary starts with the filthy propaganda the state usually serves:

“Cryptocurrencies like bitcoin are terrible for the environment,” declares Sen. Elizabeth Warren (D-Mass.). “It’s an extremely inefficient way of conducting transactions,” pronounces former Federal Reserve Chair and current Treasury Secretary Janet Yellen. “It’s a way to both hide dirty money and destroy the environment at the same time,” says Daily Show host Trevor Noah.

Reason Magazine Summarizes The Government’s Perspective

Then, Elizabeth Warren brings up the most ridiculously flamboyant stat ever uttered. According to the Senator, a single Bitcoin transaction uses the same amount of energy that an average house uses in 53 days. WHAT? Couldn’t these government people control themselves and provide a more plausible number? Do people actually believe these made-up stats? Apparently, they do, as the Discord story proves. 

Get 110 USDT Futures Bonus for FREE!

“Discord’s founder and CEO Jason Citron hinted at possible integration with the Ethereum ecosystem, with NFTs, and with the incoming Web3. And all hell broke loose.
Discord fanatics spammed Citron’s replies and canceled their subscriptions to their Nitro premium service. Discord’s own employees took to social media to express their discomfort. Video game culture influencers rallied the masses and gathered hundreds of Likes and Retweets. What were their reasons? Environmental concerns.”

Back to Reason’s documentary, Bitcoin spokesperson Nic Carter dismantles the government’s techniques. They establish an exaggerated per transaction cost, and then “extrapolate Bitcoin’s transactional load to hundreds of billions per year.” They’re not dumb, they know that “The electricity consumed by mining isn’t used to power individual transactions.” However, the average citizen doesn’t. Nic Carter closes with, “Bitcoin’s transactions and Bitcoin’s energy use are not really correlated.”

They aren’t. Bitcoin produces one block full of transactions every ten minutes on average. If we reduced the mining to only one machine, Bitcoin would still produce the same amount of blocks in the same amount of minutes. 

BTCUSD price chart for 11/19/2021 - TradingView

BTC price chart for 11/19/2021 on Capital.com | Source: BTC/USD on TradingView.com

The Media Claims Are Outlandish, To Say The Least

The mini-documentary’s host is Nick Gillespie, Reason’s Editor At Large. He admits “The energy used by Bitcoin mining has increased significantly and it will continue to grow, but the media claims are outlandish.” As an example, he offers this ridiculous 2017 Newsweek article titled “Bitcoin Mining on Track to Consume All of the World’s Energy by 2020.” As you might suspect, Newsweek’s prediction didn’t come true.

Then, it’s time for some real stats. According to the Cambridge Center for Alternative Finance, Bitcoin consumes “just over a hundred terawatt-hours per year.” That’s 117.02, to be exact. That’s on the high end of the spectrum of Nick Hansen’s estimations. If the network uses 14.2 Gigawatts per hour, that would amount to 124 terawatt-hours per year. However, “most likely, the Bitcoin network is between 4.2 and 14.2 Gigawatts.” So, it would be considerably less by Hansen’s stats.

Pick the number you trust the most, it’s a worthy investment considering everything Bitcoin brings to the world.

Critics Tend To Ignore These Facts

Reason defines mining as”the process through which a global network of computers maintains the bitcoin network through computation. Though energy-intensive, this process is what makes bitcoin a truly decentralized monetary system.” And that’s a fact. Proof-Of-Work is essential to decentralization. There is no alternative. A little later, Reason’s Nick Gillespie hits us with another home run, “the work being carried out by this global computer network is what allows Bitcoin to be controlled by mathematical rules instead of human actors vulnerable to government or corporate control.”

Then, the documentary presents another crucial fact, “Miners are incentivized to use energy that would otherwise go to waste.” The Human Rights Foundation’s Alex Gladstein puts it in another way, “Bitcoin miners need energy that nobody else wants.” Why? Because it’s cheaper. The incentives are clear as day. After that, Reason brings out the ace under Bitcoin’s sleeve, “In the Western United States, mobile Bitcoin miners are already running on electricity derived from unused natural gas from oil wells that can’t be captured because there are no pipelines to carry it.” Luckily for the government, Reason doesn’t bring up everything Bitcoin mining is doing for the Navajo Nation.

Reason Closes It Off With Even More Stats 

In a questionable move, Reason quotes the Bitcoin Mining Council controversial report. That one puts Bitcoin’s sustainable energy use at around 56%. Let’s quote NewsBTC’s report on that number.

“The good news is, there’s data to show that Bitcoin’s “mining electricity mix increased to 56% sustainable in Q2 2021.” Is that data valid? That’s another question altogether. The Bitcoin Mining Council elaborates on the results:

The results of this survey show that the members of the BMC and participants in the survey are currently utilizing electricity with a 67% sustainable power mix.”

Related Reading | Power Ledger Blockchain Firm Signs Deal with Japanese Green Energy Supplier

We can say that because, here at NewsBTC, we’re partial to Bitcoin. Was it a good idea for Reason to use it? Maybe not, but notice they used the conservative 56% figure and not the aspirational 67% one. The magazine knows what it’s doing. That’s why they brought back Nic Carter to close the documentary, “Bitcoin is a vote of no confidence in the monetary and financial system that exists today.”

That’s exactly what it is. Among other things.

Featured Image: Screenshot from the documentary | Charts by TradingView

Source

Tagged : / / / / / / / / / / / / / / / / / / / / / /

The Navajo Nation Is Mining Bitcoin With Sustainable Energy. Here’s How

The Navajo Nation’s Bitcoin story might be the most wholesome of the last few months. The mine isn’t only providing employment within the reservation, it’s helping them transition from providing coal-powered energy to renewables. Another case study that proves Bitcoin incentivizes and funds green energy. Another story of Bitcoin helping the disenfranchised people of the world to find their footing.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

How disenfranchised are the Navajo? “The Federal Government took away all the land rights away from the Navajo people,” says a disembodied voice in the Compass Mining mini-documentary. According to it, among the Nation:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

  • 48% are unemployed
  • 40% live without running water
  • 32% live off the grid
  • 33% live below the poverty line

But the Navajo are resilient people who’ve claimed the desert Southwest as home since time immemorial,” said director Will Foxley via Twitter. And now, they have Bitcoin on their side.

[embedded content]

The First Bitcoin Mine In Navajo Territory

The audiovisual piece comes with this text as a companion, which tells the story of how the first Bitcoin mine came to be:

“In 2017, a small Canadian firm named West Block approached the Navajo about building a mine on Navajo land. At 8 megawatts (MW) in size after the initial round, the Navajo invested in an equity stake in the mine during the bear market of 2018. Three years later, Bitcoin mining has turned a corner to become one of the most profitable sectors of Bitcoin itself.”

Apparently, 58% of the mine’s energy already comes from the depicted solar farm. “The Bitcoin mine is incentivizing renewables to be built on Navajo country to replace coal,” says the mini-documentary’s narrator. Foxley claims that “the Bitcoin mine uses Navajo energy on Navajo land for Navajo employment.” However, the text states that “The Navajo chose to divest themselves at a profit.” The move was positive because it ended up “placing the money back Navajo peoples hands with investments into the public utilities.

Get 110 USDT Futures Bonus for FREE!

The Navajo Nation’s Transition To Clean Energy 

In the past, the Navajo have had their runnings with dirty forms of energy. The text summarizes it with.

“The Navajo story of the 20th century is fraught with energy abuse, including malpractice in coal and uranium extraction for people off the reservation. Today’s generation of Navajo continue to live with these negative externalities, such as heightened levels of radiation in well water.”

However, as the world is trying to phase out coal-powered energy, the Navajo innovate to keep up with the times. According to Walter Hasse, Navajo Tribal Utility Authority president, “I had excess electricity that I still had to pay for and deal with. Now, I want to build renewable energy to replace my lost coal resources that are throughout the nation. I need someone to consume that renewable energy resource.

Who could consume that energy,? we wonder. What industry is mobile enough to move to the desert and start making money for everyone around right away? Well, the mini-documentary is all about exactly that phenomenon.

BTCUSD price chart for 11/06/2021 - TradingView

BTC price chart for 11/06/2021 on CEXIO | Source: BTC/USD on TradingView.com

Jobs For The Navajo People

Traditionally, the Navajo don’t want to leave the reservation. However, there are not many employment choices there. That was before Bitcoin. According to Foxley, the mine now hosts around 3,000 machines. According to the text, “The facility currently employs two full-time employees. With the expansion, that number will grow to eleven. That money then flows from the mine into local jobs creating even more buzz.” Not only that, the documentary’s narrator promises “more mines scheduled to come online in the coming months.

Related Reading | Bitcoin Mining Vs. The World: BTC Leads Sustainable Energy

Considering a mining company commissioned both the audiovisual piece and the text, we could assume who’s behind those “more mines scheduled.” And we salute them.

Featured Image: Screenshot from the mini-documentary | Charts by TradingView

Source

Tagged : / / / / / / / / / / / / / / / / / / / /

Ethereum Documentary Featuring Vitalik Buterin Raises $1.9 Million in 3 Days

A fundraising campaign towards a new documentary about the second-largest cryptocurrency by market capitalization, Ethereum, saw over 1,000 ETH in donations.

Ethereum Documentary Sees Massive Support from Community 

A group of filmmakers is looking to create a feature-length documentary centered around the growth, developments, and adoption of Ethereum. The upcoming documentary featuring co-founder Vitalik Buterin, is titled Ethereum: The Infinite Garden, scheduled to be released in Winter 2023.

Meanwhile, there was a fundraising event for the movie, with a target of 750 ETH ($1.4 million). The crowdfunding event started on July 14 and ended on July 16, 2021. However, members of the Ethereum community responded positively to the project, donating 10.35.96 ETH ($1.9 million). The amount was raised within three days. 

There were also Infinite Garden NFTs, which saw 662 backers. The top three backers got three unique NFTs and were also awarded on-screen credits in the documentary based on their contributions.

The highest bidder who contributed 140 ETH would be mentioned as the “executive producer” in the film, and also get a rare Infinite Garden NFT with the person’s name as “Executive Producer.”

The second highest backers with 111.10 ETH will also be credited with “Co-Executive Producer” in the film, along with a unique Infinite Garden NFT showcasing the individual’s name as “Co-Executive Producer.”

Meanwhile, the third person who contributed 35 ETH will be mentioned as “Contributing Producer” in the movie and get a unique NFT as the other two, with the name as the “Contributing Producer.”

Furthermore, the backers from four to twenty would also get some film credits along with 17 Infinite Garden poster NFTs airdropped to them. 

According to the organizers, 95 percent of the funds will go to the production budget. The remaining five percent will be dedicated to Gitcoin grants towards open-source Ethereum projects, and “Carbon Offset through a donation to Carbonfund.org.”

NFT Adoption in Pop-Culture

NFTs are increasingly becoming a viable medium to express the intersection of crypto and pop-culture. Celebrities, actors, and musicians have shown interest in the NFT industry. 

As reported by BTCManager earlier in July, popular American singer Katy Perry announced a collaboration with blockchain-based startup Theta Labs, to launch her NFT collection. Also, Fox Entertainment revealed that the company was launching a $100 million creator fund for its NFT project. 

Back in April, Grammy award-winning American rapper Eminem unveiled his NFTs on Nifty Gateway.

Related posts:






Like BTCMANAGER? Send us a tip!

Our Bitcoin Address: 3AbQrAyRsdM5NX5BQh8qWYePEpGjCYLCy4


Source

Tagged : / / / / /
Bitcoin (BTC) $ 43,438.64 1.28%
Ethereum (ETH) $ 2,375.66 5.59%
Litecoin (LTC) $ 74.29 2.33%
Bitcoin Cash (BCH) $ 248.39 1.30%