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Every $1 of BTC value responsible for $0.49 in health and climate damages in US

sciencedirect.com

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Re: Every $1 of BTC value responsible for $0.49 in health and climate damages in US

#21

Post by Tenoke »

ath92 wrote: post #12
eigenvalue wrote: post #6

This is about the furthest thing from “science”. Just sensationalist propaganda. It’s so far from being even remotely plausible. Maybe 1 BTC is responsible for $0.49 of “damage” if you could ever actually quantify it. Most of this electricity comes from the cheapest source of power, which is hydro.

Energy is not an infinite resource. The energy used to mine bitcoin could have been used for something else instead.

Not fully necessarily given how local energy is. There's only so many things you can do in cheap-energy places, especially without much bigger and less potentially temporary investments.

Re: Every $1 of BTC value responsible for $0.49 in health and climate damages in US

#22

Post by eigenvalue »

ath92 wrote: post #12
eigenvalue wrote: post #6

This is about the furthest thing from “science”. Just sensationalist propaganda. It’s so far from being even remotely plausible. Maybe 1 BTC is responsible for $0.49 of “damage” if you could ever actually quantify it. Most of this electricity comes from the cheapest source of power, which is hydro.

Energy is not an infinite resource. The energy used to mine bitcoin could have been used for something else instead.

That’s not true at all. There is a huge amount of stranded power. Electricity is not fungible across large distances. Otherwise people in Texas wouldn’t be paying $9,000 per mwh during the storm— power certainly didn’t cost that much in other states then.

Re: Every $1 of BTC value responsible for $0.49 in health and climate damages in US

#23

Post by ryanmarsh »

eigenvalue wrote: post #6

This is about the furthest thing from “science”. Just sensationalist propaganda. It’s so far from being even remotely plausible. Maybe 1 BTC is responsible for $0.49 of “damage” if you could ever actually quantify it. Most of this electricity comes from the cheapest source of power, which is hydro.

How much damage is the current financial system responsible for?

Re: Every $1 of BTC value responsible for $0.49 in health and climate damages in US

#26

Post by nyolfen »

_red wrote: post #10

As opposed to fiat, which funds war and enormous waste via unrestrained printing....

the petrodollar system is built on US military hegemony, with that military being the largest fossil fuel consuming entity in the largest fossil fuel consuming nation -- "the largest single institutional consumer of hydrocarbons in the world"[1], towards the end of making sure people buy oil with dollars. in a very real sense the value of the dollar is maintained by the fact that people have to buy oil with it.

crypto is at least agnostic about what kind of energy you convert into it, and literally incentivizes renewables.

[1] https://sci-hub.st/10.1111/tran.12319

Re: Every $1 of BTC value responsible for $0.49 in health and climate damages in US

#28

Post by h4kor »

eigenvalue wrote: post #6

This is about the furthest thing from “science”. Just sensationalist propaganda. It’s so far from being even remotely plausible. Maybe 1 BTC is responsible for $0.49 of “damage” if you could ever actually quantify it. Most of this electricity comes from the cheapest source of power, which is hydro.

Without BTC miners using this cheap power, it could be used to replace coal and gas plants.

Re: Every $1 of BTC value responsible for $0.49 in health and climate damages in US

#30

Post by [deleted] »

ryanmarsh wrote: post #23
eigenvalue wrote: post #6

This is about the furthest thing from “science”. Just sensationalist propaganda. It’s so far from being even remotely plausible. Maybe 1 BTC is responsible for $0.49 of “damage” if you could ever actually quantify it. Most of this electricity comes from the cheapest source of power, which is hydro.

How much damage is the current financial system responsible for?

[deleted]
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