I think it is important to acknowledge this up front: Electricity usage does not cause climate change.
Focusing on electricity usage is not an effective way to minimize or mitigate climate change. Climate change is primarily caused by the release of CO2 and methane into the atmosphere. Certain types of electricity generation are major producers of CO2, so the effort should focus on these types of generation. Reducing or eliminating them will have a direct effect on climate change, regardless of how the electricity is used.
Topic: Bitcoin and Climate Change - page 3. (Read 582 times)
I was reading a great article today on coindesk by Ian Allison that talked about Bitcoin's sustainability in this new era of climate change activism. It proposed an interesting question that because Bitcoin uses so much computing power to mine blocks, and therefore consumes vast amounts of energy, will it be sustainable in the long term? I would add a follow question to this of: Will or how greatly will this affect mainstream adoption going forward? I think this is a good time to reignite this discussion as climate change and activism has never been more prevalent.
My thoughts are that although Bitcoin uses a considerable amount of energy, when related to climate change and its impact on the environment it pales in comparison to other industries burning of fossil fuels, as well as deforestation and farming. Furthermore, because Bitcoin is reshaping global finance, I feel that it will be around for the long term.
That's not to say Greta Thunberg will ever approve of Bitcoin's mining rigs, but most people, business, and governments will understand Bitcoin offers a valuable technology, even in the face of tightening climate change practices and policies.
But what do you think?
My thoughts are that although Bitcoin uses a considerable amount of energy, when related to climate change and its impact on the environment it pales in comparison to other industries burning of fossil fuels, as well as deforestation and farming. Furthermore, because Bitcoin is reshaping global finance, I feel that it will be around for the long term.
That's not to say Greta Thunberg will ever approve of Bitcoin's mining rigs, but most people, business, and governments will understand Bitcoin offers a valuable technology, even in the face of tightening climate change practices and policies.
But what do you think?
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