The truth about Bitcoin's energy use

Do cryptocurrencies like Bitcoin amount to climate arson or a clean-energy boon? Well, it’s complicated.
Sources + further reading
University of Cambridge | Stat: 40% of mining is from renewable energy
www.jbs.cam.ac...
CoinShares Research | 70% renewable stat
coinshares.com...
University of Cambridge | Stat: 130 TWh
cbeci.org/
Ethereum foundation blog | A country's worth of power, no more!
blog.ethereum....
What do NFTs mean for art and the Earth?
grist.org/ask-...
Analysts debate whether cryptocurrency has a green future
www.eenews.net...
How Much Energy Does Bitcoin Actually Consume?
hbr.org/2021/0...
This power plant stopped burning fossil fuels. Then Bitcoin came along.
grist.org/tech...
Square -- Bitcoin is Key to an Abundant, Clean Energy Future
assets.ctfasse...
#bitcoin #crypto #climate #climatechange

[@PastelSocks69]

How does this channel not have more views? This is the only time I’ve heard this thoroughly explained. Thanks

[@Walkerrides]

well made video

[@LucasSuarez]

Great video and excelent presenter, really enjoyed it. However, I have to say that 'proof of work' was not designed for energy efficiency but to provide strong security to the network (energy consuption is a tradeof), so far that level of security makes the network realiable/trustful to act as a decentralise alternative to the actual corrupt monetary system. As you mentioned, bitcoin energy consuption at this time may be a enviorimentally bad (or good) thing but there is a growing trend of bitcoin mining using green energy, which is very promissing. We'll see what the future holds in this regard, but looking at bitcoin as 'digital energy' opens up new opportunities (ie; energy portability...), could reduce corruption, and potentially could be deflatory for the price of energy. Will see how it goes... this is just a diferent angle.

[@mv03dl100]

Nice video, very underrated channel. You could've also highlighted how much energy is consumed by fiat currency and how the numerous server parks banks use globally to have a financial ledger use wayyyy more energy totally, while being less secure (bank can somehow loose your money in a transfer while a btc transaction is highly unlikely to fail)

[@Dakrontik]

Given that fiat currency is centralized, while bitcoin is decentralized, it is highly unlikely that fiat would require more energy to process and keep track of. Just by the way the transaction processing works, having 10 people do the job vs 1 person with specialized equipment, the costs and power required will be significantly higher for a decentralized network. You are definitely right that It would make for some interesting information to show in comparison to bitcoin.

[@mv03dl100]

@@Dakrontik that makes sense

[@superkang7448]

lose

[@Sivah_Akash]

@@Dakrontik, those ten people refer to tradional banks, right?

[@reneewatkins8583]

******* @2:40 @4:50 @5:20

[@MysticKenji2]

crypto: "energy is energy"

[@healthbeauty7853]

It's a better option is to invest your money in bonds and stocks. If bitcoin crashes again, it could land you in debt.

[@fritsfmn]

Top quality shit

[@peterson6824]

I stopped at 0:28 cuz guy doesn't know what he's talking about. That's NOT what "decentralized" means; bitcoin does NOT avoid govt surveillance...it's not a privacy coin. Decentralized means no center (or person or govt) controls it.

[@LisaBeergutHolst]

"That's a lot of losers..." Bitcoin fans in a nutshell 😆

[@Psychol-Snooper]

Well played!

[@boathemian7694]

Still sounds like a pozi scheme somehow. No thanks.

[@D_ND_H]

Nothing in this video even touched the aspects of bitcoin which could be sound like a ponzi