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0 pointsekianjo3y ago0 comments

> Bitcoin consumes 111TWh annually, the power consumption of the Netherlands, and emits 62Mt of CO2 per year, the same as Belarus. It also yields 42kT of e-waste per year.

it only consumes as much as the complexity required to roll out new blocks. As its price goes down so does the energy required to find new blocks. It is not static.

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arcticbull3y ago

I gave current numbers. Surprisingly (and obviously unfortunately) the price change hasn't had an impact on energy consumption commensurate with the drop. There's a lot that goes into it - for instance cost basis of power: theft of power, graft, corruption, etc. If you're able to steal the power then it doesn't matter much so long as you can afford new miners.

tl;dr: price per coin represents something of a bounding function on consumption of resources (including mining hardware and electricity) but it's not as tightly correlated as hoped.

My point though is the idea all that consumption has been papered over by what I assume is buying some offsets - and now it's magically carbon neutral - is silly and obviously wrong.

j / k navigate · click thread line to collapse

0 pointsekianjo3y ago0 comments

> Bitcoin consumes 111TWh annually, the power consumption of the Netherlands, and emits 62Mt of CO2 per year, the same as Belarus. It also yields 42kT of e-waste per year.

it only consumes as much as the complexity required to roll out new blocks. As its price goes down so does the energy required to find new blocks. It is not static.

0 comments

arcticbull3y ago

tl;dr: price per coin represents something of a bounding function on consumption of resources (including mining hardware and electricity) but it's not as tightly correlated as hoped.

My point though is the idea all that consumption has been papered over by what I assume is buying some offsets - and now it's magically carbon neutral - is silly and obviously wrong.

j / k navigate · click thread line to collapse