New Crypto Study Shows Unbelievable Energy Footprint

A new study (well done, in my opinion) from a Netherlands-based economist, Alex de Vries, shows that bitcoin's energy consumption has doubled since the last study six months ago and is set to double again by the end of the year, which would mean that bitcoin alone is using up 0.5 percent of the entire world's electricity. From another perspective, it could actually end up (by next year) using more electricity that the world produces in total by solar power. 

Share this post


Link to post
Share on other sites

I'm divided on the power consumption debate...On one hand, yeah, bitcoin does consume a lot of electricity and it's only rising. On the other, the vast majority of large miners are using surplus electricity from hydro and geothermal plants. in fact, many even receive subsidized electricity in order to draw them to these locations because otherwise the power would be wasted. 

Additionally, it is the largest immutable ledger that has ever been created, it's a globally available system of payment with low transfer fees and no fx fees - maybe it's worth it? 

Share this post


Link to post
Share on other sites
Sign in to follow this  
Followers 0