The European Commission (EC) is facing criticism from the crypto community over its proposed methods for calculating and mitigating the “environmental” impact of Bitcoin.
Daniel Batten, co-founder of CH4 Capital, expressed concern that the European Commission’s approach could lead to a mining ban in the EU and have far-reaching consequences for the global Bitcoin community. Batten believes that the proposed indicators are “unscientific” and ignore the positive environmental externalities of Bitcoin.
Bitcoin environmental impact methodology questioned
Daniel Batten said the methodology proposed by the European Commission includes measuring the resource consumption of crypto assets "per transaction" and relying on financially supported reports from central banks and other entities to assess the environmental impact of Bitcoin.
Batten believes that this metric, which was previously debunked by Cambridge University in 2018, is an “incomplete and non-objective” way to assess the environmental impact of cryptocurrencies.
Batten said the European Commission’s intention may not only focus on sustainability, but also protect the “vested interests” that Bitcoin could undermine. If the European Commission’s approach prevails, Bitcoin could be officially labeled an “environmentally harmful asset.”
Additionally, Batten further criticized the European Commission for ignoring scientific research and the positive environmental aspects of Bitcoin.
Defending BTC’s environmental footprint
In order to counter the European Commission’s proposed regulation, Batten called on the cryptocurrency community to submit a draft that highlights Bitcoin’s net benefits to the environment. Submissions should emphasize the need for a comprehensive framework that objectively and scientifically evaluates both positive and negative externalities.
Batten encourages the use of high-quality references and examples to show how Bitcoin mining contributes to the EU’s sustainable development goals.
Batten urged supporters to question Greenpeace reports, which the EU currently relies on to assess Bitcoin’s environmental impact. Batten suggested debunking the claims made in these reports by providing evidence that they are false, misleading due to lack of context, inaccurate, or no longer applicable.
Ultimately, Batten stressed that now is the time for the cryptocurrency community to unite and defend the freedom and decentralization that Bitcoin represents. The CH4 Capital founder further encouraged individuals to mobilize, share information, and use their “time, passion, and knowledge” to fight the proposed regulations. #欧盟 #采矿禁令
