Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Should Bitcoin lower its carbon footprint?
by
squatter
on 10/11/2019, 20:38:37 UTC
⭐ Merited by pooya87 (1)
It is 2019, there are climate protests nearly every day all around the world. Meanwhile bitcoin is consuming more energy than a small country

Two things to keep in mind:

First, consider that Bitcoin mining largely runs on clean/renewable energy sources like wind, solar and hydropower:
Quote
CoinShares says bitcoin network gets 74.1 percent of its electricity from renewables, making it “more renewables-driven than almost every other large-scale industry in the world.”

Second, power stations always generate electricity beyond real demand to maintain grid reliability. Industrial Bitcoin miners can and do make load balancing agreements with power generators to consume already-generated electricity at discounted prices. A non-zero portion of the hash rate is not increasing net electricity consumption.