In states like Texas, where energy regulations are laxer, natural gas by-product can be vented, intentionally releasing gases, predominately potent methane, into the atmosphere. The other option is to set gas on fire in flare stacks to convert methane to carbon dioxide, slightly less dangerous when it comes to heating the planet in the short-term. [...]
"They're getting zero for this gas anyway so it makes almost no difference whether we're on that well-site or not," he said. [...] "We've had publicly-traded companies reach out to us and say, 'We don't even care if we lose money on this. We want to improve our public opinion." [...]
Alex de Vries, founder of Digiconomist which examines consequences of new technologies, and a data scientist focusing on financial economic crime for De Nederlandsche Bank, called the oil well-bitcoin mining rig set-up "absurd".
"It's mind-blowing the suggestion that it is somehow helping the environment to use a by-product of fossil fuel extraction for bitcoin mining," he told The Independent.
"We don't have a climate change problem because fossil fuel companies are not efficient enough. And if you make the operation more efficient, you are not helping the environment anyway. Intuitively it just doesn't make sense.
"Firstly, it's adding to the bottom line of fossil fuel extraction and secondly, it's still burning fossil fuels. We want to accelerate away from fossil fuels. We don't want to make fossil fuels more profitable. I can't wrap my head around it."
Every time I think about NFT art I just get angry again at how stupid the whole thing is, not like stupid as in "new faddish stuff may not hold water", stupid as in literally the entire premise is fucking idiotic, you're paying for a receipt that says "i paid money" and that's it.
ME: "give me twenty dollars and I will say the word 'the' to you" YOU: deal ME: "the" YOU: great, thanks man
~ LATER ~
YOU: so now I own Josh saying "the" that one time THEM: so he can't say "the" anymore? YOU: no he can, but
THEM: but he can't say it for $? YOU: no he can, but THEM: but he can't say it like thaaaat, exactly? YOU: no, he can but THEM: oh, but only you control that one moment when he said it like that, you have exclusive rights to that! YOU: no, he filmed himself and posted it on his youtube TEHM: What...did you...buy? YOU: it! With $. THEM: so what's the point of buying it when it's free and you don't have any control over it? YOU: it's non-fungible, no one else can buy it, it's mine THEM: what is YOU: the record of the event of me having paid money for having a record of the event THEM: okay i guess you really just like having been there in person for him saying "the", that's-- YOU: oh, I wasn't there, it's just the url of the youtube video he posted THEM: he sold you a URL YOU: well I don't actually know if it was Josh who sold it to me THEM: uh THEM: so his, like, broker sold it to you? YOU: maybe? I mean, SOMEONE sold it to me. I have no idea if they know him. THEM: uh YOU: or had the "rights" to sell it to me THEM: uh YOU: anyway I'll sell it to you, the receipt, for a hundred dollars
I have somewhat simplified the mechanics and details of the process in this set of tweets because it really really doesn't fucking impact how fundamentally stupid and money-wasting the entire thing is, it's blockchain stupidity colliding with art speculation & theft stupidity
Postscript: the issue isn't lack of sufficient control over purchased art. Art as a commodity that rich people throw money at to make artists knife-fight over a living wage or a rare rare lottery win is a shitty situation! But NFT art purchasing does nothing to fix that.
The core of the NFT art sales development is: what if the art speculator whales were primarily wealthy tech bros? What if the artist's actual control over their work was further eroded? What if sale of digital art was no easier but WAS tied to a specific wasteful cryptocurrency?
You want to revolutionize the nature of artmaking, establish a fucking universal basic income and let people make whatever art they want to because they're not grinding under the wheel of late capitalism. Cryptocurrency and art speculation don't do shit for artists writ large.