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There's a bit of a reporting bias when it comes to BTC's (or even crypto itself) environmental impact. We're only able to say "it uses as much electricity as X
by jidiculous 6y ago
There's a bit of a reporting bias when it comes to BTC's (or even crypto itself) environmental impact. We're only able to say "it uses as much electricity as X country" because there's a well-defined ledger of every BTC transaction.
The question is how much non-crypto "conventional" currencies cost the planet.
That being said, BTC probably isn't the "best" cryptocurrency. I'm not sure about the details because I don't know much about this space now, but other commenters have pointed out that it's more efficient for ledgers to record proof of stake rather than proof of work.
- bagacrap 6y agoThe amount of electricity used for transactions is just a lower bound on the amount of resources used overall for btc. For example, Coinbase has servers which use electricity. And, this lower bound is /very/ high. So this comment comes off as pro-crypto FUD.