rather then Leg-end forming an opinion from "decrypt"
let look at the white house report.
it identifies 4 questions and comes with some answers according to their teams...
so
https://www.whitehouse.gov/wp-content/uploads/2022/09/09-2022-Crypto-Assets-and-Climate-Report.pdf1How do digital assets affect energy usage, including grid management and reliability, energy efficiency incentives and standards, and sources of energy supply?
- As of August 2022, published estimates of the total global electricity usage for crypto-assets are between 120 and 240 billion kilowatt-hours per year,
- a range that exceeds the total annual electricity usage of many individual countries, such as Argentina or Australia.
- This is equivalent to 0.4% to 0.9% of annual global electricity usage,
- and is comparable to the annual electricity usage of all conventional (i.e., non-crypto-asset) data centers in the world
- The United States is estimated to host about a third of global crypto-asset
operations, which currently consume about 0.9% to 1.7% of total U.S. electricity usage.
- This range of electricity usage is similar to all home computers or all residential lighting in the United States.
- Crypto-asset mining is also highly mobile. The U.S. share of global mining from
Bitcoin, the largest crypto-asset, rose from 3.5% in 2020 to 38% today, with U.S. electricity usage for crypto-asset mining, while still relatively small, tripling since January 2021.
so lets deal with some things
120 -240TWH
lets use some very very very outdated hardware which majority was switched out in 2019 to be used on altcoin. (and upgraded to s17 then s19).. . but lets assume the whole bitcoin network is using outdated s9 hardware and also using a constant high hashrate of ATH 230exahash non stop all year(didnt happen but lets go extreme)
14thash for 1.4kwh
230000000 /14 =16,428,571asics of 1.4kwh
23,000,000kwh = 23GWh = 552GW/day = 201TWH/year
so even if the network was using old asics and at a constant ATH hashrate. that still does not reach the 240 top limit
so lets use more reasonable asics of the s19 range of 2020(not using most efficient asic of 2022, to be fair).. which is the 95thash for 3.25 first s19gen
and lets actually work out the real hashrate by adding up all the days and getting the average..
hashrate=192exa for the year
=192000000 / 95 = 2,021,052asics
= 6,568,421kwh= 6.6GWH =157.6GW/day = 57.5THW/year
and thats not even the most efficient asics available in 2021-2022(110-140thash)
so saying 120-240 is an exaggeration by a factor of 2.5x-5x
oh and argentina are 140twh/y and australia are 260.. not 57
trying to suggest that bitcoin uses as much electric as australia,, is a exaggeration by a 4.6x factor
thats like a politician whos wife only gave birth to 1 kid. but the politician wants to boast to his colleagues that his wife had twins TWICE and there is another baby on the way.. its total BS
as for trying to say bitcoin uses upto 0.9% of world energy..
but here is the thing
world capacity is at 7.1TWH = 170TWH/d = 62196TWH/year
now lets use their exaggerated 240
240 of 62196 = 0.39%
now lets use their exaggerated 120
120 of 62196 = 0.19%
now lets use a fairer 57
57 of 62196 = 0.092%
so when they say upto 0.9%.. its actually 10 less as a fairer calculation of world usage
if i was to use the most efficient asic of 2022 the 140thash for 3.01kwh
it equals 36.16TWH/y = 0.058% of world energy
meaning this uear can actually get more efficient and use less power
", so I can't do a welcome message with that.
