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Philosophy & Economics of Bitcoin

Why bitcoin mining has a carbon emissions footprint, where they are trending, and why it matters
Possible responses for bitcoin users and policy-makers
Other externalities associated with bitcoin mining
Possible consequences of abandoning proof of work for an alternative consensus mechanism like proof of stake

100 words or less: in your own words, explain why externalities loom so large, when evaluating a monetary system from behind the veil.
100 words or less: suppose bitcoin mining rigs command a non-zero price on secondary markets after several years of heavy use; what does this imply about bitcoin e-waste concerns?
100 words or less: why does objectivity matter, in a blockchain consensus mechanism?
100 words or less: do alleged positive social externalities, in your opinion, make up for bitcoin’s negative environmental externalities? Why or why not?
125 words or less: prepare exactly two critical discussion questions about any of the focal readings. For each question, be sure to include a specific quotation or citation to indicate how the readings prompt it, and one sentence about why it matters.

In one page or less, estimate the environmental externalities of the US dollar system, especially when it comes to carbon emissions. You may use whatever techniques or tools you like in arriving at this estimate, and it may take the form of a range rather than a specific number. Reflect on and be prepared to discuss these further questions: are there positive externalities associated with the US dollar system, whether environmental or otherwise? What might they be? Who benefits from them, and how?
Identify a publicly traded mining firm, and write a memo of no more than one page in which you report key financials (quarterly revenue, bitcoin holdings, debt, future or present share dilution, and so on), energy mix and its carbon intensity, and a brief analysis of their public environmental messaging. What do you notice in the latter? How do they describe their own environmental footprint, and do you find it convincing? What are some strengths or weaknesses in their approach? Who is their target audience?

Friday 22 March
Readings	Read Chapter 10 carefully and in its entirety.
Reflections	Complete one of Reflections 1-2 and one of Reflections 3-5, and submit by midnight before class.
Tuesday 26 March
Readings	Read the Mora et al. and Read selections carefully and in their entirety.
Practicum Assignment	Complete one of the practicum assignments (your choice); post your findings to our Practicum document by midnight before class.