Crazy Town Et Tu, Bhutan? Cryptocurrency and Late-Stage Capitalism
Sep 10, 2025
Explore Bhutan's radical departure from traditional capitalism with its Gross National Happiness philosophy. Discover how Bhutan's embrace of Bitcoin reveals the pitfalls of techno-capitalism. The hosts debate the environmental costs of crypto mining and reflect on the irony of consumerism. They then search for positive global examples, like Nunavut's Inuit self-governance and Wales' well-being legislation. Ultimately, the discussion highlights the importance of prioritizing well-being over profit in our economic systems.
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Bhutan Introduction And Personal Story
- Asher Miller recalls befriending Bhutanese park managers and tasting yak cheese during a Smithsonian environmental leadership course.
- That exposure introduced him to Bhutan's Gross National Happiness concept and influenced his interest in alternative economics.
GNH Reframes Progress Metrics
- Bhutan developed Gross National Happiness as a policy tool to prioritize well-being over GDP growth.
- They measured health, ecological diversity, and psychological well-being to influence government decisions.
Hydropower Used For Bitcoin Mining
- Bhutan quietly amassed large Bitcoin reserves via government-run mining using hydropower, reportedly equaling ~40% of GDP.
- The move illustrates how even well-intentioned nations can pivot toward high-carbon, speculative revenue sources.
