Are we there yet? vol. 134

A recent Bloomberg article “Bitcoin Could Be as Bad for the Planet as Beef” discussed a study which found that the climate impact of Bitcoin mining was comparable to cattle farming. My initial thought was that given the volatility of Bitcoin values, both Bitcoin and beef are bad for our blood pressure but beef tastes better. The reason I mention this article is not because I want to debate the climate impact of either Bitcoin or beef, but because of what happened during a recent conversation with work colleagues that I had regarding the article.

We were discussing the way in which investors are considering issues like ESG impacts when evaluating the value of companies. The tone of the article as well as our discussion was negative: Bitcoin mining is bad for the environment. But then, one of my colleagues noted that, in fact, this type of news may lead to better climate solutions. She posited that first, crypto currencies are here to stay. Among younger people, crypto use and ownership is becoming mainstream. Second, these younger people (and some who are more seasoned) will pursue more effective and less energy intensive ways to sustain crypto currencies. The article noted that there are many crypto currencies that use less energy. What was fascinating to me about the conversation is that we shifted, over a very short period of time, from a negative perspective when looking at the current situation to a very positive perspective when we thought about how humans will adapt, invent, and develop solutions to improve the situation.  

This pivot in perspective can likely occur in almost any situation if the participants will be open to it. But we have to be intentional in our thinking and not get mired in the negative just because something needs to be improved. Not much in life is perfect, and we might be more content if we are open to changing our perspective from time to time. 

Take care and stay safe.

BOOK:

The Thursday Murder Club by Richard Osman

In a peaceful retirement village, four unlikely friends meet up once a week to investigate unsolved murders. But when a brutal killing takes place on their very doorstep, the Thursday Murder Club find themselves in the middle of their first live case. Elizabeth, Joyce, Ibrahim and Ron might be pushing eighty, but they still have a few tricks up their sleeves. Can our unorthodox but brilliant gang catch the killer before it's too late?