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Study Claims Bitcoin Mining is Hurting the Environment, Flawed Argument

Discussion in 'Crypto Currency News' started by cryptodude, May 18, 2018.

  1. cryptodude

    cryptodude Master of Crypto Staff Member Super Admin Premium Member

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  2. Tegan Herbert

    Tegan Herbert Contributor

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    Estimates vary, and a true figure could be impossible to come by because of the intentionally anonymous nature of bitcoin use. But Dutch bitcoin analyst Alex de Vries, who operates a Bitcoin Energy Consumption Index on the website Digiconomist, has produced estimates he believes are alarming. More on CryptoNewsTrend.

    If bitcoin miners are using the most efficient machines possible, the lowest amount of electricity they could possibly be using is 13 terawatt hours, de Vries said in an interview. That's about as much as the entire country of Slovenia. De Vries said less conservative estimates make it entirely possible that bitcoin is using as much energy as Ireland, which consumes about twice as much as Slovenia, or about 0.7 percent of the U.S. total.

    There are bigger threats to our environment than Bitcoin mining. It is a slight concern, but most of these studies tend to overlook all of the necessary information.
     

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