Television and movie personality Adrian Grenier, who is popular for shows such as “The Entourage” and “Clickbait” and film “The Devil Wears Prada,” has attended the eighth installment of CoinGeek Conference held in New York City where he talked about achieving green Bitcoin alongside experts in the field.
CoinGeek hosts a bi-annual blockchain conference that aims to create awareness and educate the world about the benefits of building platforms and applications on the BSV blockchain. The focus is on the powerful capabilities that a highly scalable blockchain can provide and how it can improve global systems and processes in order to maximize profits and create a universal source of truth.
With Bitcoin being criticized as unsustainable due to its use of massive amounts of energy in Bitcoin mining through the concept of Proof-of-Work, it is imperative that a discussion be opened in order to clarify whether or not Bitcoin is really wasting energy. This is the panel discussion that Grenier, a known environmentalist who is also the Chief Experience Officer of impact firm DuContra Ventures, has participated in.
Grenier is joined by experts enterprise-grade blockchain solution provider nChain CTO and BSV Infrastructure Team Technical Director Steve Shadders; COO of blockchain service provider TAAL Distributed Information Technologies Lars Jorgensen; Co-Founder and CEO of Compute North and IT and security information veteran Dave Perrill; accounting, tax and consulting firm MNP Partner Hassan Quresh; and President and Chair of cryptocurrency and blockchain risk management company Gray Wolf Analytics Inc. Dr. Dhirendra Shukla.
“I’m afraid to say, ‘I’m no expert, early adopter, maybe.’ But I just feel lucky to be on this stage with such brilliant minds. These guys are innovating and creating; and I’m crypto-curious and I’m at the edge of my seat, waiting for the utilities to come about so that I can use them in my everyday life,” Grenier said.
First, it must be clarified that BTC and BSV are two different implementations of Bitcoin; and the one that Tesla CEO Elon Musk has claimed as unsustainable is BTC and not BSV. Although many regard BTC as the original Bitcoin, it is actually far from the original vision set forth by Bitcoin white paper author Satoshi Nakamoto due its inability to scale, with blocks still at the initial 1MB limit and throughput at seven transactions per second (tps) set by Satoshi as a starting point, and price volatility that has led to it being rendered without utility except as a pseudo digital gold.
“I see that from my circle of friends and family, etcetera that, ‘Oh, you’re not talking about the Elon Musk Bitcoin, it’s actually another Bitcoin.’ And I think that there’s some missionary work to be carried out in the public that there are actually different Bitcoins, and it’s not the speculative-Elon-Musk-Tesla-whatever Bitcoin that we are talking about that provides this value. And I think it’s quite important to bring it out out that there’s value that the BSV chain creates,” Jorgensen explained.
Through continuous scaling, a 2GB block mined on the BSV blockchain has set the world record for largest block mined on a blockchain. A pending upgrade will also increase throughput to over 50,000 tps that will rival, and even soon surpass, that of the VISA network’s capacity, which translates to even lower transaction fees.
These capabilities are what provides utmost utility and benefits to global businesses, organizations and governments, which make BSV the green Bitcoin as its technology more than makes up for its high energy consumption.
“I think it’s really going to transform media. In my business, like filmmaking [and] communications, it’s going to empower artists to have exchange directly with consumers, get commercialization out of that relationship unless chosen. Even just the social media networks. Like what’s happening with Facebook, they’re literally selling our data for profit, and we don’t see any of that money. I like to see social media networks that allow both users and content creators to have a more autonomous exchange of value,” Grenier concluded.
