Climate Change Denialism Could Affect Bitcoin's Reputation

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By TP

Donald Trump's stance on climate change has changed over time, more in form than substance. On March 27, 2015, during a conversation with presidential candidates, Trump showed skepticism about the validity of climate change, arguing that the names for the phenomenon have changed over the years.

In the 1920s they used to talk about 'global cooling'. They thought the earth was cooling. Now they think it's getting hotter. (…). So now they call it 'climate change', and now, 'extreme weather'. (…). It's called weather, it's called weather! Donald Trump, President of the United States.

Trump considered that the change in perspective and the lack of consensus on the phenomenon would have reduced the credibility of the cause against climate change. Likewise, he suggests that he believes that climate changes are not due to an anthropogenic (man-made) effectimplying that the climate has its own cyclical nature and independent of the industries. On January 21, 2020, during a speech at the World Economic Forum in Davos, Trump was highly critical of the apocalyptic and exaggerated element he perceives in the worldview of environmental movements seeking activism against climate change. Political agendas would be using this climate defense as a weapon.

To embrace the possibilities of tomorrow we must reject the perennial prophets of doom and their predictions of the apocalypse. Donald Trump, President of the United States.

Trump is likely referring to people like Michael Mann, not the film director who produced works like Heat or Thief, but a climate scientist at the University of Pennsylvania, who said the United States already represents “a major threat to the planet.” ” with Donald Trump as president. Trump began by relativizing climate change, arguing that a name change implies a change in the identity of the phenomenon, which would incur explanatory contradictions. He ended by denouncing what he feels is an exaggerated fatalism with dangerous political effects. But he also made a clear decision that reinforces his position in the face of this global problem (or according to Trump, pseudo-problem): signed, again, the withdrawal of the United States from the Paris Agreementall while encouraging the use of fossil fuels by declaring a “national energy emergency.” The Paris Agreement is an international treaty on climate change. It was adopted by 196 countries on December 12, 2015, and aims to limit global warming and prepare participating countries to deal with the effects of climate change, operationally and financially.

Trump, a climate change denier?

In the short term, this evident Trump denialism could “be good” for the industry around Bitcoin (if such a thing can be), while The United States could see an increase in its industrial capacity and, consequently, its internal economy, affecting the production and price of the currency. In the medium and long term, this denialism, to which other government figures such as Robert F. Kennedy Jr. also tend with vaccines and COVID-19, could affect Bitcoin's reputation and slow the maturation of public perception towards the currency.

Mining, for example, could experience a “regression” in its practices and return to fossil fuels such as natural gas, oil or those produced by coal plants. Although this is just a hypothetical scenario, such a regression would revive old criticisms of Bitcoin, according to which mining the currency has a large carbon footprint. It would also fuel current criticism that points to the fact that Bitcoin consumes a lot of energy that could be used to satisfy “more immediate” needs. The denialism that would affect the reputation of mining work and the initial speculative inclination towards memecoins and altcoins are, among the good news, two wounds that Donald Trump may try to inflict on Bitcoin. Another thing is that Bitcoin bleeds and cares.


Disclaimer: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of BitcoinDynamic. The author's opinion is for informational purposes and under no circumstances constitutes an investment recommendation or financial advice.

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