Bitcoin’s Energy Use is a Feature Not a Bug
Bitcoin incentivizes energy innovations whereas proof-of-stake results in exacerbated inequality since the more money you have, the more money you get.Mickey Koss is a West Point graduate with a degree in economics. He spent four years in the Infantry before transitioning to the Finance Corps.In a recent article titled “Bitcoin Is Not a Store-of-Value,” an author going by the name of 0xStacker provided a seemingly well-reasoned critique of Bitcoin, equating its energy usage to a flaw in the system — a leak that precludes bitcoin from being classified as a sound store of value. I’m here to....
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Bitcoin’s unique energy use incentives, ability to store stranded energy and more make it the future of our energy consumption as a planet.
The data shows Bitcoin’s energy use would represent just a rounding error in the construction, transportation or healthcare industries.
While detractors often cite Bitcoin’s energy consumption as a negative, this doesn’t automatically imply environmental impact.
Breaking Down What “Green Bitcoin” May Mean for the Crypto Industry London-based cryptocurrency firm Argo Blockchain recently announced plans to create the world’s first clean energy Bitcoin mining pool. The firm confirmed its partnership with DMG Blockchain Solutions to launch the world’s first Bitcoin mining pool powered by clean energy. Bitcoin’s Energy Consumption Continues to Skyrocket Bitcoin’s environmental concerns are nothing new. Crypto critics have always questioned the hefty electrical consumption of miners, but as […]
Bitcoin may be a significant energy consumer in 2040, but only if its price reaches several million dollars, according to new estimates by Arcane Research. Bitcoin (BTC), the world’s most-valued cryptocurrency, has the potential to be a significant energy consumer in the future, but only if it reaches several million dollars, according to new estimates by Arcane Research.Crypto research and analytics firm Arcane Research on Monday released a report estimating the development in Bitcoin’s energy usage toward 2040.Authored by Arcane Research analyst Jaran Mellerud, the report points out that....