No, Bitcoin Won't Use Up All The World's EnergyBitcoin using too much energy is thus pure FUD as it originates in the sectors that will lose more or be
disrupted most by the blockchain, the latest being the Bank for International Settlements (BIS), a core
piece of the global banking infrastructure.
Bitcoin and other cryptocurrencies also potentially replace gold as an international asset of last resort and it is
said the energy expended raping the earth for the precious gold monetary relic is five times that expended on
bitcoin. Even if it was a 1:1, the replacement of gold by bitcoin would surely be an environmental good.
https://www.forbes.com/sites/investor/2018/06/18/no-bitcoin-wont-use-up-all-the-worlds-energy/ Interesting point here.
I was wondering how much the current bank system demands in terms of energy consumption. It's true that the bank system offers a lot of services but do we really need all this stuff?
Considering ATMs, servers, offices, premises and so on, I would say running the Bitcoin system is not that bad.
It's also interesting the fact associated with the environmental exploitation of metals that are linked with the old system.
I wouldn't say Bitcoin system is the final solution to energy problems but, c'mon, the current money system definitely isn't more efficient than the crypto's one.
Environmentalists point the finger against Bitcoin while they still use and benefit from the bank system. I mean, the real problem lays at the base, certainly not at the blockchain technology.