Would be interested to hear what the point of view is on a recent increase in press statements as follows: ‘Bitcoin may soon consume more power than Australia’— almost 10 times more than Google, Microsoft and Facebook combined.
Is there anything behind this or is it just another angle of attack against bitcoin prompted by remarks by Bill Gates?.....is it even possible to calculate consumption in this way?
Half-truths are the most dangerous.
Yes, this is partially true as PoW is a very energy consumption algorithm. At the same time, only the plugged standby chargers are using way more energy globally. [1]
Banks are eating even more, but nobody is demonizing the bank about their carbon footprint.
[1] Vampire Energy: Essential Answer
https://stanfordmag.org/contents/vampire-energy-essential-answer