3 ms·
Two google searches take as much energy as it'd take to boil one cup of water. Online porn consumes 6 million kWh [1] yearly. We ignore areas where energy cost
by kajumix 6y ago
Two google searches take as much energy as it'd take to boil one cup of water. Online porn consumes 6 million kWh [1] yearly. We ignore areas where energy cost is diffuse, which is not the case with bitcoin that is so objectively and transparently measurable. If others find value in online porn, TikTok, air travel for fun, production of processed food and subsequent health crises, long hot showers, and methane-producing cattle, regardless of how frivolous or wasteful I find them, it's not my place to question them. It's just free people choosing to pay for things they value, and all of it takes energy.
Fiat currencies and their forced entrenchment has a giant carbon footprint with its wasteful banking system, militaries and layered machinery to ensure its value is never challenged. The FX market trades about $6 trillion DAILY, with an infrastructure that doesn't produce any real goods and services. It'd be fair to compare the energy cost of bitcoin with the legacy fiat system, but how do you even begin to measure the latter. We live in an artificially over financialized world, where a big chunk of knowledge workers is not engaged productively. Bitcoin may in fact become the great definancialization that would boil the system down to essentials [2].
Nic Carter does a great job addressing the energy concerns of bitcoin [3]. Consider specially the idea of the non-fungibility of energy and how BTC miners absorb energy that'd otherwise be curtailed. I know it will sound crazy and totally non-intuitive but there is an argument that bitcoin might end up being the biggest incentivizer of clean, cheap energy, and in the end be a net positive for the environment.
[1]: https://www.theatlantic.com/technology/archive/2017/12/the-environmental-cost-of-internet-porn/548210/ https://www.theatlantic.com/technology/archive/2017/12/the-e...
[2]: https://unchained-capital.com/blog/bitcoin-is-the-great-definancialization/ https://unchained-capital.com/blog/bitcoin-is-the-great-defi...
[3]: https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption https://www.coindesk.com/the-last-word-on-bitcoins-energy-co...