Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
franck-leroy.medium.com
Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
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Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#2This is how insanely bad Bitcoin is for the environment : If you buy a Tesla car (around 40 000 $) in Bitcoins, the impact of the mining of those bitcoins is around 80 tons of CO2. This is 4 times more than the savings of CO2 you can expect from this car (compared to a gasoline one) on its entire lifetime (around -20 tons).
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#3This is very very misleading. That bitcoin won't be used just once. After you give it to someone, they will use it too.
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#4And what about the CO2 impact of using traditional banking (air conditioning, heating, commuting...)
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#5- I think 80 tons of CO2 for BTC is wrong. It should be around 15-20 tons (75% of BTC is mined with renewables, I think approx 20-25% is coal)
- for US, CO2 per $ GDP should be around 0.3 kg
- so if BTC is 50000$ value, it is almost same CO2 then something else US produce, (it would be 50000* 0.3 = 15 tons)
- if we assume those numbers correct, lets assume they are both 15 tons, it means 50% of the things US produce is less carbon friendly for environment than bitcoin.
- also BTC will be reused ( it is on article though )
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#6This is very very misleading. That bitcoin won't be used just once. After you give it to someone, they will use it too.
Which would be more compelling if Bitcoin weren’t hoarded and were actually usable as a currency.
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#7And what about the CO2 impact of using traditional banking (air conditioning, heating, commuting...)
What about the people commuting to the factory producing the cpus used to mine bitcoins, what about the people commuting to the car factory producing the cars of the people commuting to the cpu factory ? &c. We can play that game for a long time and nothing of value will be written
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#8- I think 80 tons of CO2 for BTC is wrong. It should be around 15-20 tons (75% of BTC is mined with renewables, I think approx 20-25% is coal) - for US, CO2 per $ GDP should be around 0.3 kg - so if BTC is 50000$ value, it is almost same CO2 then something else US produce, (it would be 50000* 0.3 = 15 tons) - if we assume those numbers correct, lets assume they are both 15 tons, it means 50% of the things US produce…
The average is not the median.
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#9- I think 80 tons of CO2 for BTC is wrong. It should be around 15-20 tons (75% of BTC is mined with renewables, I think approx 20-25% is coal) - for US, CO2 per $ GDP should be around 0.3 kg - so if BTC is 50000$ value, it is almost same CO2 then something else US produce, (it would be 50000* 0.3 = 15 tons) - if we assume those numbers correct, lets assume they are both 15 tons, it means 50% of the things US produce…
The average is not the median.
true but you don't need median here:
if you produce 1 hammer, 1000 nails. average thing produced is not 50% chance hammer, 50% nail, it should be weighted.
Re: Buying a Tesla car in Bitcoins cancels 4 times the CO2 savings for its lifetime
#10This is how insanely bad Bitcoin is for the environment : If you buy a Tesla car (around 40 000 $) in Bitcoins, the impact of the mining of those bitcoins is around 80 tons of CO2. This is 4 times more than the savings of CO2 you can expect from this car (compared to a gasoline one) on its entire lifetime (around -20 tons).
It's not a problem of Bitcoin but the reality in which there is no cap on externalities.
Every sane person will try to limit consumption/waste of critical resources if she knows the resource is limited. It's an easy choice to make.
Do I take bath if I have just a bottle to drink while being lost on a desert? Do I keep car engine on in a garage?
For our convenience, any side effects of our consumption are hidden from us. We don't have to kill our bacon, keep waste at home, or enslave children to drink our cocoa. Occasionally we will shed a tear while watching a documentary about lovely, furry animals with sad eyes.