Stop worrying about how much energy bitcoin uses


#1

#2

Will Lockheed Martin Change The World With Its New Fusion Reactor?


#3

Dumbest article I’ve read in a while. BTC uses almost 1/3’d of the power consumption of banks but can only do like 7TPS compared to the millions they do. Imagine the power wasted if this were to become a global currency… Lol the article killed itself with its’ own facts.

BTC burning power is not a good thing in any way and you should worry about it. Unless we can harvest an unlimited amount of energy and raw materials ( in which case PoW will become useless ), it is a waste.


#4

The right discussion

Like many other aspects of the energy industry, bitcoin is not necessarily a “bad guy.” It’s simply a new, and vaguely understood, industry.

The discussion about energy consumption and bitcoin is, I believe, unfair without discussing the energy intensity of new technologies overall, specifically in data centers.

Rather than discussing the energy consumption of bitcoin generally, people should be discussing the carbon production of bitcoin, and understanding whether certain mining towns are adding to an already large environmental burden.

Although there has been extensive discussion in the media of bitcoin’s energy consumption, I’m not aware of any studies that actually calculate the comparative carbon footprint of the bitcoin process.

Global electricity consumption is going up overall. The U.S. Energy Information Administration predicts that world use will increase nearly 28 percent over the next two decades. But increasing energy consumption is bad only if we aren’t shifting toward less carbon-dense power production. So far, it seems that only miners are currently shifting toward cleaner parts of the world.

So perhaps people should quit criticizing bitcoin for its energy intensity and start criticizing states and nations for still providing new industries with dirty power supplies instead.

Read more at: https://phys.org/news/2018-08-energy-bitcoin.html#jCp