Bitcoin Rally Stirs BofA Alarm on ‘Enormous’ Surge in Energy Use
[Huge carbon footprint] The energy used by the network of computers
that power the digital coin is comparable to that of many developed
countries and rivals the emissions from major fossil-fuel users and
producers… The level of emissions, which have risen alongside a
spike in Bitcoin’s price, have grown by more than 40 million tons
in the past two years. And when the digital asset is trading around
$50,000 -- which it’s done for much of this year -- it uses about
0.4% of global energy consumption…
https://t.co/eoIifu1kys
Wow. That's startling. Lead me to read other
articles on this, one of which said "researchers at the University
of New Mexico has put a price on that pollution,
estimatingin a paper
that every dollar of bitcoin value mined accounts for 49 cents'
worth of health and climate damage in the U.S". That sounds
unsustainable to me.
yes I read that mining Bitcoin collectively uses as much energy
as the entire country of New Zealand, and for what? it's very
wasteful uses a lot of energy. The green party should hate Bitcoin,
but many of them are big believers in it and have positions so
contradictory
and don't get me started about NFT's. I should make an NFT of
one of the KISS charts and auction off for $100K, crazy world these
days
Posted by jtsurfah on 23rd of Mar 2021 at 11:17 am
NFT's for art seem way overblown, but I'm all in for anything
that disrupts the anti competitive practices in the American real
estate industry and reduces the exorbitant fees & commissions
they are able to charge as a result of those practices. Smart
contracts on blockchains (NFT's) seem like they hold promise in
this area.
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Bitcoin Rally Stirs BofA Alarm
Posted by steve on 23rd of Mar 2021 at 09:18 am
Bitcoin Rally Stirs BofA Alarm on ‘Enormous’ Surge in Energy Use [Huge carbon footprint] The energy used by the network of computers that power the digital coin is comparable to that of many developed countries and rivals the emissions from major fossil-fuel users and producers… The level of emissions, which have risen alongside a spike in Bitcoin’s price, have grown by more than 40 million tons in the past two years. And when the digital asset is trading around $50,000 -- which it’s done for much of this year -- it uses about 0.4% of global energy consumption… https://t.co/eoIifu1kys
Wow. That's startling.
Posted by z0ned on 23rd of Mar 2021 at 10:12 am
Wow. That's startling. Lead me to read other articles on this, one of which said "researchers at the University of New Mexico has put a price on that pollution, estimatingin a paper that every dollar of bitcoin value mined accounts for 49 cents' worth of health and climate damage in the U.S". That sounds unsustainable to me.
yes I read that mining
Posted by matt on 23rd of Mar 2021 at 10:44 am
yes I read that mining Bitcoin collectively uses as much energy as the entire country of New Zealand, and for what? it's very wasteful uses a lot of energy. The green party should hate Bitcoin, but many of them are big believers in it and have positions so contradictory
and don't get me started about NFT's. I should make an NFT of one of the KISS charts and auction off for $100K, crazy world these days
NFT's for art seem way
Posted by jtsurfah on 23rd of Mar 2021 at 11:17 am
NFT's for art seem way overblown, but I'm all in for anything that disrupts the anti competitive practices in the American real estate industry and reduces the exorbitant fees & commissions they are able to charge as a result of those practices. Smart contracts on blockchains (NFT's) seem like they hold promise in this area.