What's more environmentally friendly? Oil or Bitcoin...

[Kate Turlington + 44]

I'm just wondering if anyone's seriously considering the comparison here. Saw this today on crypto's CO2 emissions: 

https://www.theguardian.com/technology/2018/jan/17/bitcoin-electricity-usage-huge-climate-cryptocurrency

In all the hype, I know people talk about the amount of energy it takes to mine crypto, but I still don't think anyone's taking it that seriously because they are still struggling with the existential nature of crypto itself. If it doesn't really exist, or isn't tangible, how can it be a threat to the climate?

[TraderTate + 186]

well, it's definitely an environmental problem for China. Consider that some 60% (or more) of the processing power for mining bitcoin is in China ... and they're burning coal mostly for this power.

[Kate Turlington + 44]

I think the problem is several things here: 1) this is global so it's hard to get a handle on it because in China they're using coal to power bitcoin mining; in Iceland, they're using cheaper geothermal energy and they have naturally cooling of the machines (but this is industrial, not individual mining); ... 2) it's all so new that there isn't enough of a pattern or data to figure out exactly how much energy crypto is using; 3) everyone's so caught up in the hype that they really don't care. 

[LAOIL + 33]

Apparently, according to WSJ, rural Washington is seeing an influx of new bitcoin miners trying to take advantage of the hydroelectric power. So what's interesting to me is that crypto could change even demographics, right? People going where the energy is cheapest? (That's the obvious attraction in China)

[Seleskya + 50]

Case in point: Russian scientists were just arrested for mining crypto at a nuclear facility  If you want good power to mine crypto coin, what better place than a nuclear facility. Love it

[Carlsbad + 19]

Not just a 'nuclear facility' but a nuclear WEAPONS facility...

http://www.ubergizmo.com/2018/02/russian-scientists-arrested-mining-bitcoin-nuclear-weapons-lab/

[TraderTate + 186]

Now they're saying that Iceland might end up using more energy to mine crypto than to power homes ... 

http://www.businessinsider.com/iceland-bitcoin-mines-are-booming-2018-2