jm + cryptocurrencies   2

Bitcoin must die
If Bitcoin were to cease trading tomorrow, 0.5% of the world’s electricity demand would simply disappear. This is roughly equivalent to the output of ten coal-fired power plants, emitting 50 million tonnes of CO2 per year – which would cover one year’s worth of the carbon emission cuts required to limit temperature rises this century to 2C. It is not a solution by itself, but it would be a good year’s work. Bitcoin is made from ashes, and if ashes were legal tender, humanity would burn everything in sight and call it progress.
environment  bitcoin  ecology  future  earth  cryptocurrencies  pow  electricity  climate-change 
9 weeks ago by jm
Bitcoin’s energy use got studied, and you libertarian nerds look even worse than usual | Grist
This is awful. What a waste:
Bitcoin’s energy footprint has more than doubled since Grist first wrote about it six months ago.

It’s expected to double again by the end of the year, according to a new peer-reviewed study out Wednesday. And if that happens, bitcoin would be gobbling up 0.5 percent of the world’s electricity, about as much as the Netherlands.

That’s a troubling trajectory, especially for a world that should be working overtime to root out energy waste and fight climate change. By late next year, bitcoin could be consuming more electricity than all the world’s solar panels currently produce — about 1.8 percent of global electricity, according to a simple extrapolation of the study’s predictions. That would effectively erase decades of progress on renewable energy.
energy  bitcoin  blockchain  cryptocurrencies  money  climate-change  planet  green 
may 2018 by jm

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