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Exposing the Unintended Consequences of Digital Trends

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; Digiconomist @DigiEconomist ·

5 Oct 1577625715054452742

EU Parliamentary question wondering if and why Bitcoin can continue to operate on the energy-intensive proof of work mechanism amid a climate and energy crisis and after Ethereum showed almost all of this energy consumption can be mitigated.

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; Digiconomist @DigiEconomist ·

5 Oct 1577625715054452742

EU Parliamentary question wondering if and why Bitcoin can continue to operate on the energy-intensive proof of work mechanism amid a climate and energy crisis and after Ethereum showed almost all of this energy consumption can be mitigated.

Twitter feed image.

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; Avi Asher-Schapiro @AASchapiro ·

29 Sep 1575583125987479553

The climate-knives are out for Bitcoin: a new study in Nature, says its climate impact in on par with beef, if measured as a % of market value.

ICYMI, last week Sierra Cluba/Earth Justice slammed bitcoin in a new report:

https://www.context.news/just-transition/cost-of-crypto-us-bitcoin-as-dirty-as-6-million-cars

Economic estimation of Bitcoin mining‘s climate damages demonstrates closer resemblance to digital crude than digital gold

Scientific Reports - Economic estimation of Bitcoin mining’s climate damages demonstrates closer resemblance to digital crude than digital gold

www.nature.com

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; Ketan Joshi @KetanJ0 ·

29 Sep 1575500899408957441

New study: In 2019 and 2020, Bitcoin mining climate damages were higher than gas power generation and nearly as high as coal power. Since 2018 they've always been higher than:

- Petrol + car manufacturing
- Meat (inc beef)
- Mining (gold, copper, etc)

https://www.nature.com/articles/s41598-022-18686-8

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; alex hern @alexhern ·

29 Sep 1575504255582375939

Bitcoin is less “digital gold” and more “digital beef”, according to a study that suggests the cryptocurrency has a climate impact greater than that of gold mining and on the level of natural gas extraction or rearing cattle for meat.

Bitcoin climate impact greater than gold mining, study shows

Environmental damage of producing cryptocurrency averages 35% of its market value over past five years

www.theguardian.com

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; Ashley Lannquist @AshleyLannquist ·

28 Sep 1575096978928594949

Friendly reminder that the current CO2 footprint of *one* #bitcoin transaction is about 0.76 metric tons, which is more than a one-way flight from NYC to San Francisco (0.68 metric tons). ✈️🍃Per & https://co2.myclimate.org/en/portfolios?calculation_id=5130667

Bitcoin Energy Consumption Index - Digiconomist

The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the Bitcoin network.

digiconomist.net

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