What do you answer to this?
https://ift.tt/MUam5XV
Ive researched this extensively due to asshats pushing their agenda.
We continue to hear things like “Bitcoin mining is destroying the environment” and things of that nature. I’m going to provide some numbers and sources to back all this up. Bitcoin only uses .05% of global electricity consumption. It only releases .08% of carbon emissions. A large portion of its consumption is renewable, roughly 58% renewable. It’s the industry with the most incentive to use renewable energy as the profitability relies almost solely on the cost of electricity. We don’t see any other industry pushing as hard towards clean energy.
https://tokenist.com/bitcoin-mining-responsible-for-0-08-of-global-co2e-emissions-report-reveals/
Fiat money has caused a recession every 5.6 years, to be precise, in the U.S. since the Federal Reserve’s founding. Beyond the human toll, each recession has brought trillions in wealth destruction, wealth that took an enormous amount of resources and, an enormous amount of carbon to create.
To translate this recession cost in carbon emissions into something that can be compared to Bitcoin, I relied on the most mainstream estimates I could find of the carbon cost of one dollar of GDP – about 5,000 BTU (British thermal units), or 1.5 kWh (kilowatt hour), per dollar. Then, using the Federal Reserve’s own estimate of $11 trillion destroyed peak to trough in the 2008 crisis – the very crisis that inspired satoshi to create Bitcoin– you simply multiply the two. That comes out to 16,500 TWh (terawatt hour) of carbon equivalence destroyed during that single recession. Accounting for the rest of the world, that might triple. Accounting for the other 16 recessions the Fed has given us – with more to come – makes it astronomical. While Bitcoin’s network consumes currently no more than 147.67 TWh per year. At 1.5KWh per dollar, and roughly $250 trillion in global GDP, the production and transactions of all fiat has used roughly 375,000 TWh. Not accounting for buildings , lights, atms, armored trucks, vaults, employees.
Cryptocurrency
