In a digital world misinformation can quickly distort public perception, and correcting those narratives is often an uphill battle. Susie Violet Ward, co-founder of Bitcoin Policy UK, has been at the forefront of this fight, working for the better part of ten months to expose inaccuracies in mainstream media coverage about Bitcoin.
In an interview with CCN, Ward shared insights into the ongoing issues with how Bitcoin is portrayed and her mission to reveal the facts.
Challenging Misleading Narratives
Ward Violet Ward’s efforts in tackling misinformation revolves around the misrepresentation of Bitcoin’s environmental impact, particularly concerning water usage. A statement that the Bitcoin mining industry is indirectly consuming excess water for electricity generation seems to be intensifying regional water scarcity issues.
A widely circulated article claimed that each Bitcoin payment consumes the equivalent of a swimming pool’s worth of water. However, Ward pointed out that this narrative stems from the media’s use of misleading terminology, specifically the interchangeable use of “payment” and “transaction.”
“The truth is, there’s a massive difference between the two terms,” Ward explained. “When they use ‘payment’ instead of ‘transaction,’ it results in an exaggerated claim, by a factor of 1,000, about Bitcoin’s water consumption. The publication calculates the entire cost of a payment, not just the transaction fee, which makes no sense in the context of Bitcoin.”
Understanding Water Use and Waste in Bitcoin Mining
Ward explained that the misunderstanding extends further into how water is actually used in Bitcoin mining. Many mining operations use water in cooling systems that operate within closed-loop environments. In these systems, the water is reused rather than lost, making the argument about water waste entirely irrelevant.
“There’s a difference between water usage and water loss,” Ward emphasized. “Most Bitcoin mining operations don’t result in water loss. If the water is being used in a closed-loop system, it’s not evaporating or being discarded, it’s simply being reused. To equate this with significant environmental harm is misleading and inaccurate.”
For Ward, the sensationalism surrounding Bitcoin’s environmental impact is not just inaccurate, but a distraction from more pressing issues. “It’s a fun argument for those who don’t understand the technology,” she said, “but it’s ultimately irrelevant and doesn’t hold up when you look at the facts.”
This misrepresentation, according to Ward, highlights the importance of precise language in reporting, especially in the context of Bitcoin and its environmental footprint.
The Impact of Misinformation
Ward went on to describe the ripple effect that misleading articles like these can have on public perception. Once a story gains traction, it’s often picked up by other media outlets without proper fact-checking, causing the misinformation to spread rapidly.
“What happens is, the original story gets reposted and republished without anyone questioning its accuracy,” Ward pointed out. “Soon enough, it’s treated as fact by readers and even other journalists.”
This misinformation, she added, does more than just harm Bitcoin’s image, it also misleads consumers and policymakers, affecting the overall growth and understanding of decentralized finance (DeFi) and technology.
A Call for Accountability
For Ward, the solution requires proper accountability. She believes that journalists covering Bitcoin and other cryptocurrencies need to be more diligent in research being posted, particularly when it comes to the technical aspects of the technology.
Too often, Ward says, articles are written by individuals without a deep understanding of how Bitcoin and blockchain technology work, leading to oversimplifications or outright errors.
“I’m not saying every writer needs to be a tech expert,” Ward clarified, “but they should at least consult with those who are before publishing such sweeping claims. It’s irresponsible otherwise.”
Ward has been actively engaging with various media outlets, pushing for retractions or corrections where necessary. Though her efforts have been met with resistance, she remains committed to holding media organizations accountable for media reporting.
Misinformation’s Long-Term Consequences
One of Ward’s biggest concerns is the long-term impact this misinformation could have on Bitcoin’s adoption and regulatory landscape. She emphasized that when policymakers rely on inaccurate data or skewed narratives, it can lead to misguided regulations that stifle innovation.
“This is about more than just correcting the record,” she stated. “If policymakers are basing their decisions on faulty information, it could have serious repercussions for the future of decentralized finance.”
Ward highlighted the importance of educating not only the public but also regulators and lawmakers on the realities of Bitcoin’s energy consumption and environmental footprint. She stressed that accurate information is required to educate the public about Bitcoin.
The Path Forward
Despite the challenges, Ward is optimistic about the future. She believes that continued advocacy, coupled with education, can help combat the spread of misinformation about Bitcoin. Ward’s organization, Bitcoin Policy UK, is dedicated to pushing for more accurate media coverage and providing reliable information to those in positions of influence.
“There’s a lot of work to do, but I think we’re making progress,” Ward said. “The more we can educate people, whether they’re journalists, policymakers, or the public, the closer we get to a more accurate understanding of what Bitcoin is and what it’s capable of.”
Ward remains steadfast in her commitment to improving the quality of Bitcoin coverage, knowing that the battle for truth is far from over.
As she concluded, “We’re not just fighting for Bitcoin; we’re fighting for the integrity of journalism and the right of people to make informed decisions based on facts, not fear.”
Andrew Kamsky is a chart analyst and writer with a background in economics and ACCA certification. He has held roles at a Big Four firm, a fintech bank, and a listed bank specializing in currency hedging. His work explores Bitcoin, macro trends, and market structure. Outside finance, he's passionate about music, travel, and neon design.
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