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Except that this isn’t true. Bitcoin currently uses 80-90% renewable sources or opportunistic power capture, which is effectively zero-carbon. The incentives of
by garmaine 6y ago
Except that this isn’t true. Bitcoin currently uses 80-90% renewable sources or opportunistic power capture, which is effectively zero-carbon. The incentives of bitcoin mining drive this, since carbon-neutral energy sources have lower marginal costs.
- paulgb 6y agoHere’s a recent study from Cambridge that puts it at 39%. The studies I’ve seen with higher numbers always seem to be funded by firms involved in crypto trading. https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/3rd-global-cryptoasset-benchmarking-study https://www.jbs.cam.ac.uk/faculty-research/centres/alternati...
- garmaine 6y ago39% renewable, which is actually higher than I expected. I said renewable and opportunistic power capture. The latter is a large proportion of mining because it is effectively free income. There are a lot of places in the world where excess power is generated and wasted because there aren’t uses on site. Bitcoin mining is a relatively cheap way to offset cost of operations in these areas.
- paulgb 6y agoWhere does the 80-90% number come from, though? Is that just you speculating or has someone come up with that estimate?