Blame culture: Bitcoin the environmental disaster

  1. They do not understand current energy wastage
  • The Cambridge Center for Alternative Finance (CCAF), estimates that Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production.
  • By conservative estimate lets say 30% of the total energy globally produced is wasted (below is an estimate from 2017 study by the World Economic Forum (WEF) showing that actually 67% energy in the US, a developed country, was wasted).
  • Capturing the huge amounts of the world’s wasted energy
  • Targeting the polluters themselves (i.e. agriculture, coal, oil and gas), not Bitcoin’s use of the free market
  • Preventing the ecological devastation and mass deforestation of the “world’s lungs”
  • Compare Bitcoin apples for apples versus current global banking system energy output and “proof of war”
The energy producer is the source
  • Energy usage is uncorrelated to transaction number
  • Energy efficiency will continuously improve in proportion to network adoption
  • Energy efficiency will improve as mining rigs improve

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Atticus Finch

Atticus Finch

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