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New Academic Paper: Bitcoin’s Growing Energy Problem

Digiconomist May 16, 2018 Sustainability

It has been several months of little new content on the Digiconomist blog, but a lot has been going on in the background.

Bitcoin Sustainability Report April 2018

Digiconomist May 1, 2018 Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

Bitcoin Sustainability Report March 2018

Digiconomist April 1, 2018 Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

Ask me Anything this Weekend

Digiconomist March 2, 2018 Announcements

On Saturday March 3, 2018, Digiconomist will be hosting an Ask my Anything on AMAfeed.com.

Bitcoin Sustainability Report February 2018

Digiconomist March 1, 2018 Sustainability

Digiconomist is committed to promoting (the development of) sustainable blockchain technology.

Digiconomist

@DigiEconomist

#Bitcoin is no safe haven, and as the #BTC price plunges the coming block reward halving could become increasingly troublesome. The more market pressure on the mining industry; the bigger the hit to the network’s computational power at the time of the halving.

12:40 pm · February 28, 2020

Digiconomist

@DigiEconomist

@OhGodAGirl You cannot fix the fundamentally flawed incentives in proof-of-work in general by switching to a different version of the same thing. GPU mining already takes place in a similar (centralized) industrial scale as ASIC mining; it’s just basic economies of scale.

9:17 pm · February 27, 2020

Digiconomist

@DigiEconomist

The latest #Ethereum Energy Consumption Index is 7.842 TWh per Year/0.73 Mil US households (+0.23%) ethereumenergyconsumption.com 30.7 KWh per unique transaction (powers 1 US household for 1 days) #MakeEthereumSustainable

3:02 pm · February 27, 2020

Digiconomist

@DigiEconomist

#Bitcoin #EWaste Generation is at 10.759 kilotonnes per year (comparable to a country like Luxembourg) bitcoinelectronicwaste.com A footprint of 90.7 grams per unique transaction (equal to the weight of 1.4 'C'-size batteries or 2 golf balls) #MakeBitcoinSustainable

2:33 pm · February 26, 2020

Mike Dudas

@mdudas

sAfE hAvEn pic.twitter.com/dHxSG9hnbw

10:29 pm · February 25, 2020 ·

Retweeted by Digiconomist

Digiconomist

@DigiEconomist

It’s no surprise they end up using the type that is the most disliked by everybody. Coal power provides a constant supply, is readily available and possibly at very low rates since the rest of the world doesn’t want it anymore.

6:05 pm · February 25, 2020

Digiconomist

@DigiEconomist

Realistically these authorities are spending more effort on addressing their seasonal shortages - during periods when miners are too busy leeching some other location as shortages result in high rates. 😑

6:04 pm · February 25, 2020

Digiconomist

@DigiEconomist

They don’t have the commitment to be reliable long-term partners, nor the ability given their extreme dependence on BTC price volatility. But somehow this would convince local authorities to invest in more energy projects they don’t really need in the first place.

6:04 pm · February 25, 2020

Digiconomist

@DigiEconomist

@fiege_max Always been amazed at the mental gymnastics required to suggest that BTC mining somehow contributes to long-term renewable energy projects. These companies are parasites that stick around only for your seasonal excesses at best.

6:04 pm · February 25, 2020

Maximilian

@fiege_max

“In Kazakhstan, coal-fired power costs as little as $0.001 per kilowatt-hour because of the abundant coal source there” BTC mining gives new lifeblood to fading fossil fuel infrastructure. It doesn’t compel anyone to build out new renewable power generation. twitter.com/decryptmedia/s…

5:34 pm · February 25, 2020 ·

Retweeted by Digiconomist