The currency of the (uninhabitable) future

The techno-centric vision for Trump 2.0 was laid out in various written screeds from Musk’s Silicon Valley friends at Andreessen Horowitz, the venture capital hydra (and crypto funder) whose namesake founders became enthusiastic Trump converts and staffers this election cycle. Marc Andreessen’s “Techno-Optimist Manifesto” insisted upon building out energy “abundance” instead of cutting back on any fossil-fuel use; Ben Horowitz’s “Politics and the Future” blog announcement pledged his support for any political candidate who believed, like he did, that crypto “will create a fairer, more inclusive economy”; the duo’s co-written “Little Tech Agenda” all but declared war against the regulatory state in the wake of Biden administration attempts to impose tighter crypto regulations.
With Andreessen himself having joined Musk in keenly advising Trump throughout the presidential transition, the new administration has gotten to work implementing all facets of the Andreessen Horowitz blueprint—and yes, the crypto and energy policies are not incidental, because top-down climate denial is hardly irrelevant to their goals. The , now a far more crypto-friendly agency under Trump, has also scrapped a Biden-era requirement for large companies to disclose their greenhouse gas emissions in depth. The president has once again withdrawn the U.S. from the Paris Agreement, with no objection from Musk this round. In fact, his already-infamous has been targeting the National Oceanic and Atmospheric Administration and the Environmental Protection Agency for data purges, grant freezes, and mass firings. It’s not a coincidence that Musk is doing this under the aegis of a fake “department” that’s named for the Dogecoin cryptocurrency and was staffed with Marc Andreessen’s help.
(Also not a coincidence: that the primary zero-carbon energy source the new Department of Energy is interested in expanding is nuclear power, a fixation of both Andreessen’s and Horowitz’s. Why is that? Well, it’s a good way to thumb their noses at misguided environmentalists who protested fission plants after the Three Mile Island meltdown. Also, they want more data and mining centers to be powered by nuclear power specifically.)
While purges of NOAA and EPA data are troubling for many reasons, one of the biggest is that they’ve censored key resources for tracking American energy consumption and greenhouse gas emissions. Those have been especially useful markers for independent researchers surveying and tracking how America utilizes its electricity, both dirty and clean. There’s Digiconomist, the much-cited project from Dutch economist Alex de Vries, that keeps a public monitor of Bitcoin mining’s environmental and emissions impacts. There’s also the fact that this data affects the pricing and regulation of agricultural commodities—and since Bitcoin and other cryptocurrencies will be considered commodities like gold and silver, it will be the agriculture-focused members of Congress who lead legislative oversight. What could go wrong?
Digital-asset evangelists are especially sensitive to the climate critiques, which popped up time and again during the pandemic-era crypto bubble as myriad celebrities—even the nominally environmentalist ones—got in on the grift. Some crypto ventures, like the alternative currency and blockchain Ethereum, shifted to coin-mining methods that were far less energy-intensive.
But Bitcoin truthers and like-minded users are dedicated to their all-systems-go, all-the-time approach. Why should the government make it easier for anyone to scrutinize and call out their electricity needs? And why should banks and other firms express any skepticism over cryptocurrency’s actual value, or take the time to meet their climate and environmental goals, when they could just be forced to mine this stuff instead? Trump himself has been cozying up to the stuff in increasingly concerning ways, from a disastrous meme currency to a coin-hoarding private venture to the establishment of a crypto arm for his Truth Social network, dedicated data centers and all. No better way to ensure regulatory capture than to grant the president his own funny money.
To that end, why should the government do anything to oppose the “financial innovation” tech in which some powerful VCs just so happen to have staked millions of dollars? If the consequence happens to be a hotter, less-inhabitable Earth, so be it. At least the crypto mavens will have their digital riches to isolate them from the real-world consequences of these decisions.
True believers in crypto have often championed it as the answer to so many of our financial, political, and even cultural woes. It’s decentralized, giving money and power back to the people without having to rely on evil banks or governments. It allows anyone to keep their money safe from inflation and the finicky, unpredictable economy. So what if it takes a few million gallons of water and untold amounts of greenhouse gases pumped into the atmosphere each year?
This is the currency of the future. It’s just too bad that there might not be a habitable future to spend it in.