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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?
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.
Yes there is a lot of power being used to mine crypto, I mine but it is done on a system that I would normally have running 24/7 regardless of mining. Yes large mining specific "server" or "ASIC" farms use alot of energy but so does every other serverfarm. Maybe we should be talking about the energy cost of watching Pr0n, or TikTok videos both of whic IMHO provide far less benifit to society.
And I'm especially angry at hypocrites like Elon Musk who are profiting from climate change and then proceeds invest those profits in bitcoin that accelerates climate change.
Earlier quoted context omitted.
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.
Earlier quoted context omitted.
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.
Earlier quoted context omitted.
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.
Every neighboring state is connected to the eastern power grid, which can transfer power from the Mexican border to Vermont.
The rise of Bitcoin is a reflection of low trust in the existing currencies. Low trust leads to inefficiency.
Oh please. It has almost no use as a currency, it's the rise of an asset bubble.
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.
All these Crypto posts are getting pretty tiring.
What's special about today and increasing frequency of these posts?