But, then, everything is bad for ‘climate change’, even if it causes nice, pleasant days which are good for taking someone out for a nice lunch just to say “thank you for being you”
The first peer-reviewed study of bitcoin’s energy consumption confirms our fears:
Bitcoin’s energy consumption is growing at 20% *per month* and is effectively erasing decades of progress on renewable energy.https://t.co/JnYEq3uExi
— Eric Holthaus (@EricHolthaus) May 17, 2018
From the article
Bitcoin’s energy footprint has more than doubled since Grist first wrote about it six months ago.
It’s expected to double again by the end of the year, according to a new peer-reviewed study out Wednesday. And if that happens, bitcoin would be gobbling up 0.5 percent of the world’s electricity, about as much as the Netherlands.
That’s a troubling trajectory, especially for a world that should be working overtime to root out energy waste and fight climate change. By late next year, bitcoin could be consuming more electricity than all the world’s solar panels currently produce — about 1.8 percent of global electricity, according to a simple extrapolation of the study’s predictions. That would effectively erase decades of progress on renewable energy.
See, here’s the thing: Warmists say they want to totally transform economies and the energy sector to make everything less energy intensive, more efficient, and so much more. But, when you more things more and more into the digital age, you use……..electricity!
Surprise!
What is interesting about this is that the users/owners of Bitcoin don’t pay anything for the servers or energy used by them for that product to exist. It they did, it would be a self-regulating inflation mechanism. Nothing in life is free, but Bitcoin exists on the principle that the machines, connections, and electricity that enable it are free.
Similar thought: It is estimated that over half of emails being sent on the internet are generated by bots and received by other bots, then deleted by Bots. At some point, the economics start to fail when the exploiters of free bandwidth soak it up and isn’t any left for your Netflix, porn and Amazon.