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

Post by Bluestein » Thu, Mar 04, 2021, 1:32 PM UTC

Bluestein wrote: post #2

"Cryptocurrency mining uses significant amounts of energy as part of the proof-of-work time-stamping scheme to add new blocks to the chain. Expanding upon previously calculated energy use patterns for mining four prominent cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Monero), we estimate the per coin economic damages of air pollution emissions and associated human mortality and climate impacts of mining these c…

Post by cblconfederate » Thu, Mar 04, 2021, 1:33 PM UTC

Post by gitrog » Thu, Mar 04, 2021, 1:33 PM UTC

read_if_gay_ wrote: post #34

ricardobayes wrote: post #13

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.

If you were sitting on billions and wanted to accelerate climate change then investing in BTC is probably the most inefficient way to do that. I doubt that idea ever even crossed his mind. It’s just about the profit.

Post by Cypher » Thu, Mar 04, 2021, 1:33 PM UTC

Post by spdionis » Thu, Mar 04, 2021, 1:34 PM UTC

asutekku wrote: post #42

HPsquared wrote: post #27

The rise of Bitcoin is a reflection of low trust in the existing currencies. Low trust leads to inefficiency.

Absolutely not. Bitcoin’s value increases because it’s a speculative asset and there’s almost zero reasons for it to go down since it’s not really tied to anything tangible.