Thread by @PeterMcCormack

1/ Dear @LionelRALaurent, I have just read your article for Bloomberg "Bitcoin Is an Incredibly Dirty Business".

I have some things to discuss with you as I assume accuracy as a journalist is important to you.

bloomberg.com/opinion/articl…

2/ Let's start with your subtitle "This is virtual money with a real carbon footprint."

#bitcoin isn't virtual money, money in computer games is virtual. #bitcoin is as much money as dollar bills, gold or cigarettes in prison.

3/ This pejorative use of "virtual money" implies it has less meaning that other forms of money. This is obviously false to those people who save or transact in #bitcoin.

4/ You also question whether it is worth anything at all while sharing a link from some moron on Seeking Alpha. I'll debunk his nonsense another day.

Right now one #bitcoin is worth over $30,000, the free market has decided this.

5/ You note that the energy consumption of the network gets "far less attention." Not true, almost every day another MSM journalist comments on how #bitcoin is boiling polar bears, without doing basic research. This article from @nic__carter should help

coindesk.com/the-last-word-…

6/ You have made the critical mistake of looking at the energy consumption per transaction. The energy consumption is not just for processing transactions, it is primarily to create security around the wealth being stored in #bitcoin.

https://twitter.com/PeterMcCormack/status/1354333808850587648

7/ You state that "Not all cryptocurrencies need energy-hungry, proof-of-work algorithms", no they don't, but not all cryptocurrencies are #bitcoin.

You are welcome to invest in the security models of other cryptocurrencies but they are called shitcoins for a reason.

8/ #bitcoin stores over half a $trillion of wealth in the best form of money that has existed, outside of government control. Security is important.

Have you ever written an article on the environmental disaster of gold mining, if not why?

smithsonianmag.com/science-nature…

9/ Anyway, I understand why you have made such basic mistakes, you are not alone. Luckily there is a wealth of people who actually understand this who are available to you to edit and correct the mistakes in your article.

Just let me know and I will connect you with them.

Peter