bit on Nostr: I mean just because people sponsor green energy initiatives doesn’t mean it’s not ...
I mean just because people sponsor green energy initiatives doesn’t mean it’s not bad for the environment, carbon offsetting is basically a huge scam made to blame the people instead of the massive corporations using all this energy and non renewable resources like it’s candy. As for the actual energy usage of Bitcoin the University of Cambridge track this:
https://ccaf.io/cbeci/index in the last 24 hours it has used between 5 and 9 gigawatt hours. They say themselves this is a hard thing to track without instrumentation on the grids worldwide, in the western countries I believe they have good data but in the less well connected regions I think it’s spotty. I’m ignoring the theoretical upper bounds too. So let’s say generously it’s 5 gigawatt hours, that could power 5 million average homes for an hour, that’s a lot. The figures for what percentage of that energy is renewable vary depending on the source, but honestly? I see no reason for Bitcoin to be used today, it was a stepping stone, if you want privacy? Monero, If you want an embedded virtual machine that can execute code? Ethereum.
I think most people that hold onto Bitcoin do so not because it is technically impressive or even needed but because they hope it will rise again to crazy amounts and they can get rich off it.
Published at
2022-12-21 09:51:42Event JSON
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"content": "I mean just because people sponsor green energy initiatives doesn’t mean it’s not bad for the environment, carbon offsetting is basically a huge scam made to blame the people instead of the massive corporations using all this energy and non renewable resources like it’s candy. As for the actual energy usage of Bitcoin the University of Cambridge track this: https://ccaf.io/cbeci/index in the last 24 hours it has used between 5 and 9 gigawatt hours. They say themselves this is a hard thing to track without instrumentation on the grids worldwide, in the western countries I believe they have good data but in the less well connected regions I think it’s spotty. I’m ignoring the theoretical upper bounds too. So let’s say generously it’s 5 gigawatt hours, that could power 5 million average homes for an hour, that’s a lot. The figures for what percentage of that energy is renewable vary depending on the source, but honestly? I see no reason for Bitcoin to be used today, it was a stepping stone, if you want privacy? Monero, If you want an embedded virtual machine that can execute code? Ethereum.\nI think most people that hold onto Bitcoin do so not because it is technically impressive or even needed but because they hope it will rise again to crazy amounts and they can get rich off it.",
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