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Thanks for your input. The problem is that the linked article (http://pando.com/2013/12/16/bitcoin-has-a-dark-side-its-carbon-footprint/ http://pando.com/2013/1
by nkuttler 13y ago
Thanks for your input. The problem is that the linked article (http://pando.com/2013/12/16/bitcoin-has-a-dark-side-its-carbon-footprint/ http://pando.com/2013/12/16/bitcoin-has-a-dark-side-its-carb...) starts with wrong assumptions.
> At today’s value of roughly $1,000 per bitcoin, the electricity consumed by the bitcoin mining ecosystem has an estimated carbon footprint [...] [of] 0.03 percent of the world’s total greenhouse gas output [...] If bitcoin’s value reaches $100,000, that impact will reach 3 percent of the world’s total [...].
The value of bitcoin is not at all related to the network's energy consumption. It's not even related to the network's hashrate, and even if it was, mining is becoming more and more energy-efficient. It's hard to take the article seriously after this.
- bonemachine 13y ago"...that of Germany", no less. Good point -- indeed, the article was pretty hard to take seriously after that point.
- asciimo 13y agoThe link to BTC value comes from the author's speculation that miners will be willing to pay 90% of that value to mine it. So at $1000 USD, a miner will be willing to use $900 USD in energy. (Unless I missed something he completely ignores the cost of hardware.)