I feel like it's really easy to pin bitcoin on its energy usage just because it's so easily measurable. Is there any research that compares a traditional banking platform in terms of W/tx in comparison to bitcoin?
Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
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Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#12> Does that mean cryptoassets are doomed technology? No, this spells the need for established institutions to adopt and support crypto. The demand is there. Meanwhile, we need to be more cautious of the actors we currently enable in crypto networks and the corners they’re willing to cut in the pursuit of profit. Exactly. Everyone that matters is putting their energy towards creating incentives and software that allow…
> The demand is there. Let's talk when covid is over. It wouldn't be the first time it drops 80%
And it wouldn't be the first time it rebounded.
Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#13But one lasts forever and the other is wasted in 2-3 years?
Forever sitting in your wallet, because its an "investment" and cannot be spent normally?
Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#14The title should be 195x as much CO2 as producing an iPhone. In regards of buying and if you are drawing a comparison with fiat currencies you should take into consideration the environmental impact for producing, circulating and securing the money that is used for the transaction.
Nobody ever talks about what is around fiat, ATMs, money counting machines, heavy armoured vehicles moving them around, etc.
Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#15> Does that mean cryptoassets are doomed technology? No, this spells the need for established institutions to adopt and support crypto. The demand is there. Meanwhile, we need to be more cautious of the actors we currently enable in crypto networks and the corners they’re willing to cut in the pursuit of profit. Exactly. Everyone that matters is putting their energy towards creating incentives and software that allow…
> The demand is there. Let's talk when covid is over. It wouldn't be the first time it drops 80%
Why would Covid drive up the price of Bitcoin? Sure, the pandemic is being used for attempted government power grasps, but those won't go away with Covid.
Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#16Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#17Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#18How can this be calculated? I mean, it's possible to use solar energy for running mining equipment.
Use the overall distribution of generation sources for the electric grid?
Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#19How can this be calculated? I mean, it's possible to use solar energy for running mining equipment.
It's probably all bullshit. There are papers by professors of music studies claiming listening to streaming services wastes a gigazillion of CO2. It's all just back of the napkin estimates.
Re: Buying a Bitcoin emits 195x as much CO₂ as buying an iPhone
#20I feel like it's really easy to pin bitcoin on its energy usage just because it's so easily measurable. Is there any research that compares a traditional banking platform in terms of W/tx in comparison to bitcoin?
Thought experiment - Bitcoin supports fewer transactions than are needed for a mid-sized town, yet uses more power than most small countries.
The upper limit of the amount of power a country’s financial system could use is the power footprint of that country. Likely the real usage is a small percentage of that, but that’s the upper limit.
Now, given Bitcoin uses more power than countries of millions, but supports the transaction load of a few hundred thousand, do you think it is the slightest bit possible your comparison would come out favourable to Bitcoin?