ESG

ResponsibilitySea327

Lololol. You don't know what they hell I do, do you? You have ZERO idea what running a large power grid is like until you step in my shoes. The plant I support is guaranteed to be several times larger than all the other plants you've been party to. I'll bet the proverbial farm on that one. You don't have the education or clearances to even step in those shoes. But your comment is more related to the price of tea than bitcoin. Of course any economic output requites power. And any power generation has a environmental cost. The point is that ESG is just a political leverage point and doesn't make something "green". It is all based in one's reference. A wond farm is arguably better than coal and an EV may be better than an ICE car in some references, but it doesn't mean that building an EV is environmentally friendly. SEER 16 is better than SEER 14, but you won't save the planet running a SEER 16 AC unit 24/7. You can consume your way to environmentally friendly, you can only mitigate future power growth rates. Take ESG politics and shove it.

ResponsibilitySea327

Lol. I don't know if this is a case for Bitcoin being good for the environment or proof that ESG is just a scam. I'm pro-Bitcoin, but to say it is good for the environment is complete hogwash.

hateschoolfml

Bitcoin gives ESG some meaning

HeroicHeron

Bitcoin is environmentally friendly/neutral. ESG is a scam.

I_Hate_Reddit_69420

Bad take to be honest. Yes the market is different, but if anything there is more demand now and more people for miners to sell OTC to. The miner supply is halving, so institutions can buy less OTC from miners (which they might want to do to meet ESG requirements) So yes it’s different, but in a different way than the article suggests

coinfeeds-bot

tldr; Fresh Supply Co (FSCO) has been awarded the ESG finance award by the Tokyo Metropolitan Government for its innovative use of blockchain technology in the agricultural supply chain. Utilizing the Hedera network, FSCO enhances transparency, traceability, and efficiency in the agri-food sector through real-world asset tokenization. This recognition underscores FSCO's commitment to sustainability and positions it as a leader in leveraging technology for eco-conscious initiatives within the industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

hodlbtcxrp

Just like there are hundreds of different tech ETFs or hundreds of different ESG ETFs, there will be hundreds of different crypto ETFs in the future. Bitcoin ETF is the start but there will shortly be an ether ETF, and then other alts. My prediction is it won't be long till there is a crypto index ETF.

YoMamasMama89

They will try to hard fork it to make it more ESG compliant. I created a meme about this months ago that got blocked on this sub because it was "not relevant"

Stiltzkinn

Bitcoin is ESG and more than 30% uses clean energy.

Narrow_Elk6755

It is.  But ESG nonsense might allow it to pass, as they want centrally controlled crypto to pump.

Fast_Air_8000

Fuck Vanguard. Regarded woke ESG / DEI stormtroopers

Physical-State3960

Which makes me think he may have laser eyes.. notice he’s no longer promoting ESG

Zealousideal_Neck78

Lawrence Douglas Fink's. elevated involvement in Bitcoin will come back to affect us negatively. Remember, he is a big proponent of WEF and a globalist crusader. He once stated people must be brought under forced behavior to bring them into compliance. Larry Fink has emerged as the point man for environmental, social, and corporate governance capitalism, broadly known as ESG. As chief executive officer of BlackRock, which holds a $10 trillion global portfolio, Fink leverages this immense power to compel companies that BlackRock invests in to comply with an aggressive climate change and diversity agenda in their operations. 

george420

Good question. I am a maxi but have been recently thinking of counter-arguments to Bitcoin bullishness. I think it's healthy to consider if you're holding big bags for the long term like I am. 1) Ecosystem risk - including risks related to miners and keeping enough miners interested with the diminishing block rewards. When incentives are mostly funded by transaction fees will it be enough to incentivize miners and secure the network in the future? If fees are high it will incentivize miners but also incentivize L2 transactions. Will their be enough demand for health economics when block rewards are highly reduced or non-existent? I guess you can also include in here a potential problem of a hack/hostile takeover/future quantum computing but it's not really a risk anymore to Bitcoin than it is to global banking system or anything that uses cryptography. And Bitcoin could adapt to be quantum-resistant. 2) Regulatory risk - Sure you can't really entirely get rid of Bitcoin anymore than you can get rid of the internet at this point. But governments can make all kinds of bad decisions and a sufficiently motivated regulatory body can target the on and off ramps. Making it much harder to get capital in and out of the network. 3) Environmental concerns - I actually believe Bitcoin can help increase transition to renewable energy as it's already doing. But there's still tons of e-waste from the miners that will accrue over time. This can lead to a negative perception of Bitcoin ecosystem in the future by a sufficiently ESG-oriented FUD. I think this is probably the least of them though since there's tons of completely useless things that take more energy/produce way more waste than Bitcoin that are arguably far less important. Bonus: Satoshi Risk. I think this is actually the most remote possibility but there's a possibility that the Genesis wallet awakens and tanks the price. Everyday that passes this gets less likely and as time passes Satoshi gets more and more enshrined in mystery and mythology, which is overall a good thing for the network. I think those coins will stay there forever, but who knows. ​ I can't think of any more right now.

IdentifyAsUnbannable

There is no relationship. Blackrock owns the majority of governments around the world. WEF wants to push ESG, next thing you know, all noteworthy nations have ESG being shoved down their throats by their governments. Democracy is quickly becoming a mere facade to keep people quiet. The entire planet is just one big corporation of corporations that bankroll politicians to ensure policy swings in their favor.

infopocalypse

altcoins will all lose out to bitcoin over time. If you understand the blockchain trilemma this will make sense. But also to the anger of maxis, they have figured out how to put pretty much every alt use case (such as nfts) on Bitcoin recently. This will end up eating the marketshare of all alts. and finally governments and big business are embracing that Proof of Work is incentivizing green energy. When Blackrock is calling Bitcoin ESG then you know the energy FUD is dead.

xav--

Anyone knows fidelity approach with ESG? Is it the same as vanguard? I am thinking of switching too.

clicksanything

> managing large amount of bitcoins can give them power to influence decisions on the Bitcoin development. No, having *any* amount of bitcoin does not give *anyone* the ability to change the underlying bitcoin, bitcoin development or network consensus in any way shape or form. This is the beauty of PoW. > they create a POS fork of BTC in favor of ESG business. Okay, so Blackrock manipulates the code, create the a POS btc, and the network now becomes a fork and its own network. Ask yourself this: Why would the millions of decentralized nodes and users around the world who values Bitcoin, all of a sudden accept and use the Blackrock version that they changed? Spoilers, they wouldnt. So this leaves Blackrock with their version, alone, on their own network, that nobody wants to be a part of, that no one will buy tokens of. That makes the value of that network somewhere around zero. So the POS fork would eventually dwindle and die while everyone else just carries on the original Bitcoin network. Next question.

omg-whats-this

I'm concerned that when there is a fork in the future, managing large amount of bitcoins can give them power to influence decisions on the Bitcoin development. For example, they create a POS fork of BTC in favor of ESG business. Of someone want to withdraw their bitcoins, they can only withdraw using the new fork. That could lead to diverging in demand for the inferior POS network

Rydog_78

Definitely better. Narratives have flipped in Bitcoin’s favor. BlackRock and company have abandoned the ESG narrative. They pushed through the SEC, the first ever Bitcoin ETF. For better or for worse, an entirely new investor class has entered the space and is buying the ETF product which in turn buys Bitcoin at spot price. At the heart of Bitcoin is the miners. There are outside attack vectors in terms of local governments that can clamp down on their operations. Also centralization from the ETF’s which will own 10% of the Bitcoin supply.

Ok-Committee1892

Doesn’t matter, they still own % in said corporation which equates to their voting power and control within the company. E.g. ESG model

hblok

ESG (Environmental, social, and corporate governance) is probably the most clear example. There's of course huge amounts of housing real estate tied up in massive corporations, with renting the only option left for the plebs. There's farmland grabs. And, of course, there is the general problem of a single entity controlling a significant part of any assets or money supply.

coinfeeds-bot

tldr; Électricité de France (EDF), REDEX, and Rekursive Labs have completed a proof-of-concept for a blockchain-based Renewable Energy Certificate (REC) recording project. The project uses the Guardian ESG platform to automate the issuance and redemption of RECs, enhancing transparency and efficiency in the renewable energy market. The platform allows consumers to retire RECs in real-time, influencing the renewable energy market. The successful POC included automated redemption of tokenized RECs at electric vehicle charging stations using EDF's MASERA Microgrid in Singapore. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Ajax_ZQN

I don’t blame the lack of knowledge that would lead you to ask this question, but instead applaud your desire to learn more. A good place to start reading up on this topic, and why contrary to media reports the Bitcoin network is the single biggest ESG play in modern history, are the writings of Daniel Batten at CH4 Capital such as [this](https://bitcoinmagazine.com/business/bitcoin-mining-can-prevent-climate-change). He also has [a Substack](https://www.batcoinz.com/).

strings___

If all you got out of my comment was ESG. That's your problem. In fact you are starting to sound political. The exact thing Bitcoin was created to combat. Your most hated enemy will use Bitcoin and there is nothing you can do about it my friend.

AndyZuggle

You don't get it. ESG is bad for the world. They are bad people who want to destroy civilization. Bitcoin is counter to their goals.

AndyZuggle

> It is actually a extremely good ESG asset. You have a fundamental misunderstanding of the purpose of ESG. Bitcoin is actually very good for the world, therefore it has no place in ESG.

strings___

The people that arguing that Bitcoin mining uses to much energy. Are fundamentally liars. You cant have a discussion with them because their premise is built on a lie. First off most critiques of Bitcoin's energy use is based on an outdated study done by Cambridge. Second they will not admit that it's impossible for Bitcoin to be bad for the environment. Since it does not directly produce any harmful CO2 etc. The issue is always the source of the electricity. It's exactly the same issue with EV cars. Which they seem to not have an issue with. So the question is fundamentally about peoples option about the usefulness of Bitcoin and not about it's actual harm to the environment. Since Bitcoin can bolster and capture waste energy. And in fact pay for energy grid roll-outs. It is actually a extremely good ESG asses. I know I'm preaching to the choir here. However it's important we have strong arguments to counter these FUD arguments. Also link this video anytime you see this FUD https://www.youtube.com/watch?v=HheeouBR-3o

Stiltzkinn

Bitcoin mining passed ~~Blackrock~~ ESG criteria. Even Blackrock has been buying shares of American Bitcoin mining companies.

Mistermind_9

Who cares about the ESG rating anyways? Gold and fiat will have a worse result than Bitcoin.

georgke

This is exactly what is happening, the combined economic value of all current and future pensions has been grouped together under their asset management and is actively used to work against those same peoples interest. All the ESG, transgenderism and green agenda is being pushed by Blackrock and with their leverage you can actively see the changes happening at most companies who are looking for investors.

EnvironmentalBus9009

Did you guys hear the part where the ESG fud died? The one resident said at this rate HER property taxes could goto zero!! That is when you know even the residents have a vested interest in the bringing more Bitcoin mining their town!

heavenswordx

Honestly, most rank and file employees are likely to own btc themselves given the younger demographic. It’s the boomer execs at these companies implementing these ridiculous restrictions. Best way to get back at the execs is by dumping their stock if you have any, removing your business from them and I would even go as far as preferentially buying things from companies that are known to have a friendly stance towards bitcoin. Vote with your wallet. Think about it, companies didn’t give a shit about ESG until their customers cared and prioritised buying things from companies with ESG policies. The same can happen for bitcoin.

AskMeIfImAnOrange

That's fine, it's not for everyone, and yes it is probably best for devs without much time to wait and see how it pans out. But just to clarify the white paper is on the front page of the DevvE website and it includes the tokenomics along with a full explanation of how it is to be used with ESG.

otw

Again still no white paper or tokenomics and I don't really get what niche it is serving or anything. I think a lot of tokens hide behind a lot of complexity so by the time you get a full grasp on them maybe not being super useful for dev at all, it's already been long enough for them to pump or have network effect. It's just a way for companies to avoid regulation and sell essentially a stock without going through the real scrutiny it takes to get listed on traditional markets. Great for making money I'm sure and investors, but useless to me as a dev. I am not saying it's garbage or anything maybe it is good, but just having trouble seeing it's purpose and why it'd bother with a token vs actually go through full regulatory channels especially for something trying to hit an ESG angle which honestly is kind of a red flag to me. Just seems like a lot of marketing and not a lot of tech. To me I can't really justify the timing looking at these types of chains anymore, I'd rather just wait a couple of years and see how they are holding up vs investing potentially months in seeing if they are legit to just move on to the next thing. I can't keep gambling time like this.

AskMeIfImAnOrange

I understand your skepticism, most tokens are useless / money grabs. I'm not a fan of the hard sell, so I'll mention a couple things and the rest you can check out if you have any further interest. The token is separate from the blockchain (like XRP) and not required specifically for its operation (e.g. not needed for gas), although they plan on various use-cases like having projects stake the token to spin up their own shards. The chain is developed in the US and the token is run out of Switzerland so they have separate websites. Blockchain: [devv.io](https://devv.io) Token: [devve.io](https://devve.io) (this one has the white paper on it) The main reason for the token is to raise revenue for a not-for-profit fund that will be used to invest in for-profit ESG projects that can generate things like carbon credits, plastic credits etc. Those credits will be tracked on the blockchain and bought by enterprises that need them. The money from those sales get put back into the investment fund to make it evergreen. The ESG angle is the original raison d'être for the blockchain. However they made the tech so that it can be used for just about anything, with an emphasis on the security and regulatory requirements enterprises need. It may or may not suit your needs. End of sales pitch :)

AskMeIfImAnOrange

DevvX is a new L1 that is fully up and running and the token is launching in the next few weeks. Designed for enterprise with all the regulatory boxes ticked. Uses sharding so each project will essentially be running on its own blockchain. Development only requires Web2 skills so made to easily integrate with existing corporate apps. The project is heavy into ESG so their literature is skewed that way, but it can do just about anything. Super low energy and cost with high TPS. Might be worth a look.

AskMeIfImAnOrange

I imagine instead of more L2's we'll start getting new, better L1's. Maybe aimed at more specific niches rather than a one-size-fits-all. DevvX is fully operational with their token launching in a few weeks. Their focus is ESG and enterprise although it seems the blockchain can do just about anything.

hateschoolfml

For Wall Street it seems the energy & ESG narrative is important https://twitter.com/dsbatten/status/1726129761247007020?s=46&t=ihVglVXC0BQSbw6j57EoaA

Tahoe_Kiddie

A lot of people don't realize the power BlackRock has due to it managing other peoples funds. They receive all voting rights which gives them the power to make major decisions to what your kids learn at schools to this ESG BS.

AskMeIfImAnOrange

I'm not sure if it can be regarded as completely new, but in the next few weeks, DevvE will go live. It's the token for the DevvX L1 blockchain. It's a tough nut to get your head around as it works quite differently to most traditional blockchains and crypto. The token is part of, but also separate of the blockchain (like XRP). They started the blockchain to track ESG assets (carbon credits, etc) but it can do basically anything and has a lot of features making it suited to enterprise. Fast, cheap, very low energy usage. The blockchain is based in the US but the token is managed separately in Switzerland (due to constantly changing US regulations). The initial focus of the DevvE token is to fund a non-profit ESG investment fund. This fund will invest in for-profit ESG projects that can create things like carbon credits, plastic credits, etc. The DevvX blockchain will be used to track these credits so they are legitimised and actually useful to enterprise. Enterprise will need to stake DevvE to be allowed to buy the credits so it is imagined a lot will be perpetually locked up. The blockchain is fully up and running. It can be used for gaming (they have had a proof of concept game running for 5 years), DeFi, payments, whatever. It's been designed from the ground up to be compliant for enterprise and can be easily integrated into their existing systems by web2 developers using API. Using sharding it has basically infinite TPS. Blockchain: [devv.io](https://devv.io) Token: [devve.io](https://devve.io) The token literature is a little heavy on the ESG talk as that was their original raison d'etre. The blockchain site and Discord gives a more balanced usecase.

coinfeeds-bot

tldr; Bitcoin mining's sustainable energy usage has reached a new all-time high of 54.5% in 2023, with a 3.6% increase in sustainable mining for the year. The Bitcoin ESG Forecast's BEEST model shows that Bitcoin mining is the leading user of sustainable energy compared to other industries. Off-grid Bitcoin miners are utilizing methane emissions for electricity generation, which reduces environmental impact. This has led to the Bitcoin network mitigating 7.3% of its emissions without offsets, the highest level of non-offset-based emission mitigation in any industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DaVirus

What makes you think ESG is a scam?

Just1_More

ESG is one of the biggest scams of our time... and that's saying something. I will not use videos trying to promote Bitcoin fooling people further with that scam.

Intelligent_Box2320

Vanguard also heavily promotes all of the ESG and DEI woke bullsh&t as well...screw'em.

Perfect_Ability_1190

Larry Fink’s recent comment; “50 percent of Blackrock's global investor say their number one priority is decarbonation. $9.1 trillion. Larry Fink's reversal on ESG's.”

Perfect_Ability_1190

capturiant - the Carbon Credit & ESG asset authenticator, registry, and regulated exchange built on Hedera - has announced the establishment of its first international franchise, providing S. Korean entities with unparalleled access to ESG assets.

eleven8ster

Says the creator of ESG: “Buy financial protection from the financial disaster that I’m actively creating.”

throwaway345t632

I've thought about it and what I think it boils down to is this, if there is indeed a conspiracy behind ETFs approval: 1) USD stays within the US system and private individuals don't bother getting hold of BTC as they're happy with number go up. 2) Institution of new measures similar to European Central Bank, and Bank of England. Specifically, CBDC and social credits system going under the guise "carbon credits". I live in the UK and CBDC is govt official policy, and I got an unwelcome addition to my current (bank) account app recently giving me a monthly carbon score based on my private transactions. Blackrock especially is the lead on "ESG", and while they encounter a lot of resistance to this in the USA, they will try and push CBDC dollar and carbon credits through anyway - probably by means of conditional UBI ("you will own nothing and do as we say) in inner cities at first. 3) Money does not escape to havens or to other countries - the life of US citizens stays rooted in the USA because getting your money out will be a matter of de-locking it from the 401K, then being monitored your whole life by the IRS. Not sure on the exact mechanics of how this might work, but the freedom of cash (i.e. your money being your money to spend as you choose) will reduce. You want to spend money in Thailand? Through tracked digi-dollar only. You want to buy a house and retire in the East? Forget it. 4) Overarching domination of other countries by means of USD. Bitcoin-to-USD and vice versa loses fungibility "to protect you". Basically, to protect against any threat to US global hegemony posed by BRICS. And to keep resources cheap for US interests in politically unstable developing countries. 5) Pick away at the business base of the likes of Coinbase, Binance, etc. On balance, I think the main allure, if there is one, to US elites addicted to infinite Monopoly money is that productive elements of US society become prisoners to it, and can be replaced when required, by keeping them away from capital and ownership of assets and means of production. This keeps people locked in as means of production but not its true owners. I think this is more attractive to them than Russia and off-ramps they can't control. This is because the primary goal achieved by ETFs would be to stop money running into BTC proper on the 4-year cycle.

truebastard

The bureaucratic stuff for a pension fund takes YEARS, not just more months. They are extremely constrained by government decision-making, because the largest pension funds in the world are sovereign pension funds. BTC is currently just too volatile for pension funds. They don't want massive returns, they want returns stable enough to cover projected social security payments. BTC is possibly not aligned with the pension funds' stated investment goals. For example, the French and Norwegian state funds are heavily into ESG investments or supporting a specific industry etc. BTC lands flat in that area because of mining/network electricity consumption, and it's not really tied to any industry in any nation at all. Then the final major thing. If there is even a hint of being connected to use in money laundering, or use in facilitating international drug trade, or human trafficking, the government is going to need a long time to even bother looking at it. Imagine a skyscraper-sized pile of legal complexity to sort through. So the state pension fund manager will not look either. Now. I guess the largest coffers in the world could open to a crypto with adequate regulation, but that is a CBDC, so the pension fund money will most likely stay untouched by crypto for a while.

SmoothGoing

Reporter's gender does not matter. There are about 20 bitcoin experts on the planet. No one in this video is it. ESG is nonsense. Anyone pushing for it needs to live in a hut dressed in clothes they made, or they are hypocrites.

predatarian

Bitcoin mining is global,mobile and modular. This makes it the only industry that can operate anywhere at any scale. This creates solutions where there were none. The best examples are [demand response programmes](https://www.tpr.org/technology-entrepreneurship/2023-09-06/texas-paid-a-bitcoin-miner-more-than-30-million-to-power-down-during-heat-wave), [methane capturing](https://d-central.tech/bitcoin-mining-meets-methane-mitigation-recycling-emissions-into-profits/) and [water desalination](https://hashrateindex.com/blog/bitcoin-mining-around-the-world-united-arab-emirates/). I believe a large part of the Bitcoin spot ETF marketing will revolve around the benefits of Bitcoin mining in these 3 fields. They are vital to the green transition and ESG.

ignore_my_typo

Seeing how JPMorgan is listed as the AP on numerous ETFs, we do as Dimon does, not what he says. I’m pretty confident the Feds are not trying to kill Bitcoin so much as they want to control it through Bills like Warren is trying to pass. I’m sure they are ok with ETFs because it can’t be used for “illicit behaviour and terrorism”. Spot BTC can (we know this is entirely false and inaccurate. Such a small amount of crypto is used to finance this vs fiat). But that is the feds stance right now. Like ESG, which was refuted and proved to be widely incorrect (notice we don’t hear this angle any longer) the flavour of the year is illicit finance. This too shall pass. It may take years and battles in the court, but you can’t censor code and you can’t stop Bitcoin. But in the meantime products like ETF (cash create) will have to suffice. We can only hope that the mighty inflow of money into the ETF is overwhelming. This will do two things. Financial institutions will continue to market the hell out of it and more money will flow in, and those invested in the ETF will learn what the Bitcoin ethos really is and start investing in spot. If more invest in an etf and spot then too much pressure will be put on the feds, like Warren, who will have to relent or “agree to disagree”, because she will lose her power and will not be voted in. In my opinion what this is all about is the crypto space period. It’s not about the ETH or BTC but rather the push for a US CBDC and loss of fiat inflows to banking because the money is starting to flow into another asset class. And they are not getting the piece of the pie. All roads lead to bitcoin. There will be battles. But ultimately we will win. And even if shit gets harder for the US that is not what is happening globally. The UK is putting out favourable crypto legislation. Hong Kong and China open for bitcoin ETFs. The list goes on and on. The US can snooze and lose but it will only be a bump in the road.

kajunkennyg

Nah, you don't understand the game theory, just because you think this it shows that you are letting your dreams cloud your judgement. I have been in btc since it was $80. Btc isn't going to even be the answer for them other countries, most will join brics before thinking of crypto. It's backed by gold which is basically deflationary right now since it's ath supply in 2012. That is where all these countries will start to run and that will threaten the global reserve currency of the usd. But it will not be btc or any decentralized crypto. They need control, they need to be direct to the source take your money, not wait for you to give keys or pass it through an exchange they control. It simple doesn't fit their agenda. ​ They are setting up attacks on crypto around the world, with India joining the fight and hell even china attacking tether. They are putting gloves to grab crypto by the balls. No plans to make it or any other crypto the currency of the world, but so they can tax and be able to seize as much as possible. Like with tether working with the secret service. Seizing funds and stuff already. ​ This join us or lose mentality has been posted here for years, it's just as unrealistic today as it was 5 years ago, and that won't change unless we get some serious political changes in the usa. The bankers and ESG crowd want to extract profits from crypto that is all, a transfer of wealth to them by offering shit like etfs, buying stock in exchanges and mining companies. They are treating it exactly like the gold rushes.

RatherCynical

All bull runs are about narratives. We had the ESG narrative pumping the shit out of Tesla since Biden was electable. We had the DeFi and NFT narrative (only likely to get deeper and bigger). We had a scalability narrative that caused every fast Blockchain to run like crazy compared to ETH, including the broken chain of Solana. AI is but another narrative. It isn't anything to do with AI technology, but the meme of AI innovation, that attracts liquidity.

Perfect_Ability_1190

"As an FCA registered digital asset exchange, broker and custodian, it is vital that we use credible technologies. Hedera's technology and ESG credentials are excellent, and we are pleased to have integrated support for their network and look forward to working together on other new tokenization projects. Additionally, abrdn, who sit on the Hedera Governing Council, is the largest external shareholder in Archax, which further strengthens the partnership." Graham Rodford CEO and co-founder of Archax

clicksanything

>BlackRock just jumped in when they were convinced they could milk it. You underestimate Blackrock. Power moves in silence, the biggest asset manager in the world did not just randomly wake up one day and decide nows its a good time to invest in Bitcoin. Blackrock understands true scarcity more than anyone in this sub, it's literally their job to understand it for their clients. They've been doing their research for years trynna figure out how to work Bitcoin to their advantage because their high net worth clients have been demanding it. Blackrock want to control the on and off ramps. They want to control the entire narrative around Bitcoin (ESG friendly, miners, financial services etc) They dont care so much about owning the actual Bitcoins themselves. After all its not their money. Whats really amazing about Blackrock's attempt to control the Bitcoin narrative is that no matter how hard they try they still cant manipulate the underlying asset itself, meaning those of us buying and hodling will greatly benefit from the increased demand driving up price exponentially.

kajunkennyg

Why is ESG controversial? Critics argue fund managers are prioritizing political goals over generating returns. A number of states have enacted restrictions limiting how state pension funds can incorporate ESG factors into investments.

Zoenboen

You don't like ESG?

kajunkennyg

That and also allowing blackrock to assume the political capital if it's etf rises crypto to surpass gold is not something anyone should be celebrating. This move is the obvious next step to stopping innovation on it. If you can't beat em, join em. And if by joining you control the asset, the political capital associated with it, you use that capital to make yourself profits and to push your goals. One of the issues I was trying to point out is blackrocks and the WEF ESG plans and other things that don't align with the best interest of crypto or people. But as usual this thread is full of people spouting opinions on things they obviously don't know shit about. Spend a few mins on google researching blackrock, etf's, WEF, etc..etc.

throwaway345t632

A few years ago, people thought McDonalds was a safe bet. However, now they're not looking too hot. Health scares, environment scares, welfare scares, etc. I think, given a little more time, McD could even be in trouble. Same could happen to Coca Cola. It was a bad sign when they moved to the little bottle caps that stay stuck to the bottle. The ESG lobby is unappeasable, and things like that just show them: "it bleeds so we can kill it". Anything "safe" in the world of investing is a Turkey problem. Because nothing is safe. This is why Morningstar assessments aren't much use. What Bitcoin is safe from, is hacking. Its safety is as an network security thing, not an investment thing. It doesn't bleed and they can't kill it. However, its price is volatile - more volatile than most investments.

georgke

This is exactly the reason why I believe in Bitcoin, nobody can manipulate it. What Blackrock is doing is basically using our own retirement money against us. Forcing all this ESG nonsens on companies, ain't nobody got time for that.

fverdeja

Ok, now I get you, knowing what you were looking for here are some links that you might find interesting then (these are the things I remember from the top of my head about this year, but there are way more things going on than just these): 1. First of all you have the Kingdom of Bhutan mining Bitcoin on the ruins of its failed "education city", the country has been trying to generate extra money, and Bitcoin mining has helped it, it's even been sustainable at doing so. 2. KPMG has completely changed its speech on Bitcoin, it's now ESG friendly and it might push the adoption of renewable energy sources, when everyone thought that Bitcoin might be boiling oceans, now the bankers think it might help save the world, how ironic. 3. Covenants: The (must surely) next addition to Bitcoin's programmability in form of a softfork (and upgrade to the system that's backwards compatible), they might help scale Bitcoin in new ways, adding not only verticality, but also horizonatlity, with Covenants we will be able to do channel factories on LN, shared UTXOs, Vaults, and a long list of etcs... Effectively making self custody easier and cheaper and other layers more scalable, over all making Bitcoin better without adding the code complexities and security risks of Turing Complete Smart Contracts to Bitcoin. 4. BitVM: a virtual machine that lets anyone run any program on Bitcoin (waiting for DOOM on Bitcoin), it's most surely use case would be running drivechains (BIP 300 and BIP 301) without having to do a soft-fork, basically, it's the new gold standard for 2 way pegs and merge mining, helping scale Bitcoin horizontally (sidechains). 5. Breez SDK: The developers of the Breez wallet have been developing the Breez SDK, which basically lets anyone be an LSP (Lightning Service Provider) in a self-custodial manner, if you've ever used Breez, you already know what kind of experience they are trying to bring to Lightning, just send sats and you'll own them, they'll do the heavy lifting. Sources: [Bhutan Built A Bitcoin Mine On The Site Of Its Failed Education City](https://www.forbes.com/sites/iainmartin/2023/11/22/bhutan-secret-bitcoin-mine-locations/?sh=7838b94b4a4e) [KPMG - Bitcoin’s role in the ESG imperative](https://kpmg.com/us/en/articles/2023/bitcoin-role-esg-imperative.html) [OP_CHECKTEMPLATEVERIFY](https://bitcoinops.org/en/topics/op_checktemplateverify/) [BIP: 119](https://github.com/bitcoin/bips/blob/master/bip-0119.mediawiki) [BitVM: Compute anything in Bitcoin](https://bitvm.org/) [8-bit CPU for BitVM](https://www.nobsbitcoin.com/8bit-cpu-for-bitvm/) [Lightning for Everyone in Any App: Lightning as a Service via the Breez SDK](https://medium.com/breez-technology/lightning-for-everyone-in-any-app-lightning-as-a-service-via-the-breez-sdk-41d899057a1d) P.S: Have you thought of getting your genius child a psychological test? Sounds like it might be High Functioning Autism or even Asperger's, might be better to know now that it's young (you made it sound like so) than later on in its life.

Bongressman

People are delusional. Blackrock's analysts aren't wizards, they are flawed people. And their analysts are no better than anyone elses. They make mistakes constantly and lose millions constantly. ESG example being a huge blunder. They lost billions going that route. People will joke that the government is incompetent or whichever industry fits their narrative at the time. Blackrock is just as capable and incompetent at the same time as any other company, corporation.

Trollz4fun2

Some people are not ready to be freed from the matrix. They are so dependent on the system they will fight to defend it. Just do some light reading into Black Rock, State Street and Vanguard. If you want to go further down the rabbit hole 🐇 you can look into the DTCC, Failures to Deliver, Fiat currency vs Commodity Backed Currencies, Naked Short Selling, ESG scores, Central Bank Digital Currencies, The Federal Reserve, Fractional Reserve Banking

Much_Ad_6807

what is stopping blackrock from owning 50% of all bitcoin - especially after whitecollar starts putting 6% of their paycheck into their 401k then into bitcoin, and having blackrock enforce ESG based on their total ownership of all the bitcoin? Im not arguing that fiat is horrible. but what youre saying is that the gold standard was good, and bitcoin is just digital gold. Which is fine. But doesn't change the fact that no one knows what its worth.

predatarian

It's not about the amount of energy but the type of energy. Bitcoin is global,mobile and modular. This makes it the only industry that can operate anywhere at any scale. This creates solutions where there were none. A few examples are [methane capturing](https://www.nasdaq.com/articles/bitcoin-mining-can-help-fight-methane-emissions) and [water desalination](https://bitcoinmagazine.com/technical/how-bitcoin-improves-water-abundance-in-water-scarce-nations#:~:text=However%20desalination%20is%20carbon%2Dintensive,otherwise%20would%20have%20been%20wasted). A high Bitcoin price can potentially reduce the cost of drinking water for people in Africa. A high Bitcoin price makes it profitable for countries like Turkmenistan to capture methane instead of venting it. TLDR: Bitcoin is the missing piece of the ESG puzzle. It makes saving the planet profitable.

only_merit

Water consumption is total nonsense. You do not destroy water by using the water. This argument just tries to mislead people who do not know basics of the world they live in. The electricity argument is more complex, but at the end it is the same - nonsense. Advancement in human civilization is highly correlated with increase consumption of energy. There is so much available energy in the world and we only consume so little of it. We need to use more, not less, energy. Besides this, Bitcoin is really helping the energy situation in many poor areas of the world (by allowing to build power sources) as well as rich areas of the world (by balancing the grid). There is so much more to it. Even if you are totally convinced that ESG is legit (it's not, but propaganda is strong), then you still have to choose Bitcoin, because Bitcoin is the best ESG asset on the planet. It outperforms everything else even using the bogus criteria of ESG - [https://planb.lugano.ch/why-bitcoin-is-the-worlds-best-esg-asset/](https://planb.lugano.ch/why-bitcoin-is-the-worlds-best-esg-asset/). There are so many arguments to be made for Bitcoin in the context of energy consumption, I've just gave you couple. I leave up to you to look for more, there are good videos and articles explaining everything. The most important argument I've left out though, is subjectivity of value. For that, you need to learn about basics of economy. Then you will understand that all this energy talking is complete nonsense.

DeltaAlphaBratan

Most import thing will be that they use their influence on the media to change the narratives. You will see: bitcoin is ESG, Bitcoin fuels green energy transition, Bitcoin enables human rights and so on. Everything a true bitcoiner already knew. But mainstream will be forced into this believe system by frequent brain penetration.

btc21million

Great quote. Thanks. Sounds like he predicted the Woke/ESG movements...

PhilTheQuant

Hmm. My hypothesis is that decentralised compliant crypto is possible. I can see what you're saying about central control, and I can imagine one version of what I'm describing where compliance is a property of a transaction rather than a limit of the system, though that makes integration of courts more complex. As an example, suppose some transaction would be with an arms company. That might be fine for some scenarios (e.g. a general investment fund) but not others (e.g. a fund with an ESG mandate). Or it could be a trade with an entity who is subject to US sanctions, which would limit where the funds could be subsequently transferred. The easier version is one where everyone within the system is a regulated entity, as that cuts down the need for further compliance drastically.

CryptoMeetsContact

It's already illegal to own or create unbreakable encryption. And yes, blackrock will use ESG mandate to be the only one allowed to mine. They will make residential mining illegal because "bad for environment". Proof of work is based on the freedom to mine. If that freedom is enfringed upon then you can perform a 51% attack and be the only one deciding who gets to have their transaction finalized. Blackrock will lobby the USG to give them complete control over the hashrate wherever blockrock can. In the past, anything trying to stand against bitcoin has failed because it wasn't resourceful enough to overtake the security of the network. Meaning if you can't take mining out of the people's hands then you can't stop bitcoin. But blackrock is more than powerful enough to suade the USG. Larry fink is the real president of the usa.

LoquaciousLethologic

Financial Times ... Bitcoin ... ESG ... benefit. Well, just as predicted.

Basic_Hair_9549

The fucking wankers.. all this while they we cock sucking the Fed Res / Govt /ESG line .. and now since the people of Black(r)cock and (in)Fidelity wants a piece of the action .... they completely turn their story around. Shows main stream shill houses like these cannot be trusted.

clicksanything

They want to control the on and off ramps. They want to control the entire narrative around Bitcoin (ESG friendly, miners, financial services etc) They dont care so much about owning the actual Bitcoins themselves. After all its not their money.

mmgen-py

ESG is rat poison.

coinfeeds-bot

tldr; Societe Generale has issued its first digital green bond on the Ethereum public blockchain, with increased transparency and traceability on ESG data. The bond has been fully subscribed by institutional investors and will be used to finance or refinance Eligible Green Activities. This marks a significant step towards using blockchain as a data repository and certification tool for issuers and investors to foster transparency on ESG and impact data on a global scale. The bond also includes innovations such as providing information on the carbon footprint linked to the digital bond infrastructure and offering a new option for investors to settle securities on-chain through a digital asset. This transaction demonstrates Societe Generale's commitment to building an innovative sustainable bond market. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MachaMacMorrigan

This is actually pretty significant, perhaps as signuficant as the KPMG ESG paper on Bitcoin that BR commissioned, to enable BR to change its stance on BTC mining . . . and to enable the BR ETF. Remember, megabanks and asset managers are in conflict in many ways, both chasing the same buck to wealth dollars. To me, these 'regrets' are 'and then you win'.

Perfect_Ability_1190

During COP28, Hedera & the HBAR Foundation’s Sustainable Impact fund are hosting a series of events that are poised to be some of the most exciting when it comes to ESG technology strategy.

Norva

Yeah it’s just looks like an ESG ETF on chain.

und3adb33f

Doesn't look like it's a shitcoin. From reading the front page OP linked, it looks like it's an ETF investing in "climate change" grifting stocks and commodities, which is going to use AI/ML to balance the portfolio. Steve Wozniak did something similar a couple of years ago, only he was going to allow it to trade via a "coin", so maybe this does something like that. Either way, it has nothing to do with bitcoin or even "crypto". It's just another ESG grift.

18476

Wait till it passes 1 Trillion USD. Hint: ESG investments will trigger yet another run.

GhostOfMcAfee

I don’t see how this is ESG any more than the company Waste Management is ESG because they have recycling plants. This company offers a way to track and tokenize carbon emissions and counteracting carbon credits. There are real markets for that and they already have something in place with the country of Mongolia. If they can make headway into this sector, it has big Upside. The EU is going to require a large number of business to track carbon emissions. Someone has to offer the tools to do that.

Crypto_Cat_34_32

I agree it's poorly implemented and I don't personally have any desire to invest with ESG funds. I assume you are referencing ExxonMobil being included in an ESG index? I think the rationale is they're included because they're the least worst in their industry and it's an index to cover most sectors of the market. Again, I don't agree with the inclusion at all, but it may make some sort of rational sense if it incentivizes peers to catch up or surpass them in ratings so they attract more investment.

GenoPax

I’m not sure it’s a political issue, ESG is a verified scam when petrol companies are more eco friendly than nuclear energy. CBDCs are no individuals interest, they are so dystopian only people whose will is magnified by state power would be a supporter. If the state wanted a fungible digital currency it would have been easy to have a stable coin, but CBDCs only purpose is for control and limit peoples freedom. Granted CBDCs is a political arguement but it would be right and left vs state.

Crypto_Cat_34_32

CBDCs may run counter to what most people hold to be the crypto ethos, but I'm not sure I'd dump in ESG along with it. It may be polarizing to a large chunk of people in crypto, but politically speaking holders are quite diverse.

GenoPax

This is not a good look. The last thing algo needs is to align itself with the ESG WEF stuff and feed the idea algo is anti crypto and looking to be a CBDC.

uluvmyredditcomments

Agree on everything. Also bitcoin network is becoming 'greener'. KPMG released a report evaluating the way bitcoin is environmentally friendly and meets ESG standards.

Status-Seaweed-5705

Well bitcoin was for a long time thrown in the same bin as other cryptocurrencies. None of them were actually regulated by the SEC. And most of the big investors were calling bitcoin " a rat poison" and that it is used for money laundering only. So If a public company like apple would buy something with such a bad reputation, their shares could plummet. And there was also a fud that Bitcoin is not ESG friendly. But as time goes by bitcoin is seen as a commodity rather than a security. So since this "discovery" by the head of SEC the doors started opening and the fund managing firm are applying for Bitcoin ETF. But I dont expect firms like apple or microsoft to buy a whole lot of bitcoin just because they should innovate and grow with innovations rather than from their investments. And investors could just dump APPL and buy bitcoin instead. Im actually waiting for the fund managing firms to incorporate Bitcoin into their funds.. but for that they need Bitcoin ETF. More about the new fair value accounting: https://www.cbh.com/guide/alerts/fasbs-new-rule-fair-value-accounting-for-crypto/

basic_user321

From wiki _His other key campaign issue is environmental, social, and corporate governance (ESG) initiatives_ Fuck this dipshit, dudes votefarming.

jeeptopdown

Hedera (HBAR) is leading the way to real world enterprise adoption. Currently running at 2300 tps tracking supply chains for an Avery Dennison company called Atma.io. Also in the offing for the next 12-18 months… The Coupon Bureau Dropp Banksocial Hyundai Neuron (probably not fully operational, but should gain some clarity in that time frame) ESG ecosystem (Guardian) WorldPay ServiceNow Maybe a GC or two (that everyone in the know seem pretty excited about) Community nodes Happy to answer questions about any of the upcoming developments. I’ll grab some relevant links and add them.

coinfeeds-bot

tldr; The relevant text for the article title is: "BankSocial® Announces proposed DEFY Federal Credit Union at North American Blockchain Summit | Disruption Banking Skip to content About us Magazine Contact us Fintech 101 Subscribe About us Magazine Contact us Fintech 101 Subscribe Facebook-f Linkedin Twitter Markets by Trading view Fintech Banking Capital Markets Digital Assets Sustainability ESG Press Releases Menu Fintech Banking Capital Markets Digital Assets Sustainability ESG Press Releases Search Search Close this search box. BankSocial® Announces proposed DEFY Federal Credit Union at North American Blockchain Summit Press Release November 16, 2023 Facebook Twitter LinkedIn New Capabilities to Integrate Web3 Community Needs Fort Worth, Texas, North American Blockchain Summit – November 16 , 2023 – BankSocial®, in collaboration with industry partners and advisors, today announces the proposed DEFY Federal Credit Union – the first digital native, self-custody credit union powered by distributed ledger technology and the ethos of credit unions. Based in Texas and powered by BankSocial® open banking features, the proposed DEFY FCU has a mission to serve its members and the larger Web3 community across the world with financial services that have been difficult to provide in the past." Summary: BankSocial® has announced the proposed DEFY Federal Credit Union, the first digital native, self-custody credit union powered by distributed ledger technology and the ethos of credit unions. The mission of DEFY FCU is to serve its members and the larger Web3 community across the world with financial services that have been difficult to provide in the past. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

HerboClevelando

Ooooo I have one! Altcoins are like “The Marvels”: They were created in an attempt to capitalize on the success of the single original, they tried to force ESG concepts into the core design, and the intelligent audience wants nothing to do with them.

SleepCom

Is there anything politicians won't blame on climate change? I mean... "climate change" is the term now, but wasn't it "global warming" before? And didn't Gretta tell us that we'd be under water in 2023? I still have the tweet saved. I'm an environmentalist who cares about nature. I subscribe to The Nature Conservancy and I'm a member of the Cascadia Wildlands environmental group. I'm surprised ANYONE thinks that a banker, a corporation, or a government, give a shit about the environment ("climate"). It's a tool they use like the ESG, and the DEI, to "force behaviors" as Larry Fink stated. Stop conflating the economy with the environment and racial diversity. That's socialism, not free markets.

Bitbuyer313

Much thanks for taking the time to read it through! I was shocked when I finally realized the full potential of this, it's extremely exciting to see the world waking up to this as it solves so many different problems that we've been unable to solve for the last several decades. Not to mention that it gives Bitcoin the top ESG rating which is attractive to any large company that's trying to virtue signal their way to the top lol

Normal-Jelly607

ESG is for communists

HODL_monk

We need to see what the Power's That Be's response is to Bitcoin's actual mainstream use is, before we know. Chances are it will be a CBDC Panopticon version of the inflating away US dollar, for instant monetary inflation through welfare payments, UBI, and other tax breaks that won't spend on non-ESG stuff, and that will flop, but there is that 0.0001 % chance that they make their own Bitcoin, as full legal tender, with a hard cap, full decentralization, more units for everyone, really nice clean open source code, and a fair airdrop for everyone. LOLOL, of COURSE we know that would never happen, but if it did...

realslizzard

It is a sell the news event. No one cares about crypto except ppl in this subreddit Black Rock just wants to make money off fees they don't care if price goes up or down they get their MER fees. Everyone is all about the AI and ESG stuff now. Next coin will probably be a decentralized AI that uses pays users to offer up their PC for computing and gets paid in AI tokens

MachaMacMorrigan

I raised ESG, KPMG, and BlackRock as these are directly relevant to Bitcoin Regarding Anthropogenic Global Cooling, Mesospheric Ozone Depletion and similar once-believed but now-proven-to-be-fantasies, your beliefs are not necessarily another person's beliefs.

cogentat

ESG might be a joke, but man-made climate change if sadly very real. Get your act together.