The 2025 global carbon footprint of bitcoin is estimated by Digiconomist at 98.10 Mt CO2, comparable to that of Qatar.
It’s electrical energy use at 175.87 TWh is comparable to a country like Poland.
At 48.36 kt, bitcoin will produce as much e-waste as the Netherlands.
At 2,772 GL it will consume as much water as Switzerland.
Bitcoin is evil, true evil.
digiconomist.net/bitcoin-energ…
Bitcoin Energy Consumption Index - Digiconomist
The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the Bitcoin network.Digiconomist
Alberto Cottica
in reply to Gerry McGovern • • •#bitcoin
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Gerry McGovern
in reply to Gerry McGovern • • •Blockchain is a slow, cumbersome, badly designed database that is incredibly energy and material intense to run.
1 single bitcoin transaction:
712.41 kgCO2: carbon footprint of 1,578,956 VISA transactions,
1277.28 kWh of electricity: power consumption of an average U.S. household over 43.78 days
351.20 grams of e-waste: equivalent to the weight of 2.14 iPhones 12
20,130 liters of water: amount of water in a backyard swimming pool
digiconomist.net/bitcoin-energ…
Bitcoin Energy Consumption Index - Digiconomist
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Kim Spence-Jones 🇬🇧😷, Kuba Orlik and Debbie Goldsmith 🏳️⚧️♾️🇺🇦 reshared this.
Frank Heijkamp
in reply to Gerry McGovern • • •Serious question, is it even remotely possible to make crypto currency sustainable?
In a couple of years quantum computers will solve the crypto currency issue by instantly breaking it. Meanwhile all that computing power is wasting huge amounts of resources.
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Gerry McGovern
in reply to Frank Heijkamp • • •estibensito_
in reply to Gerry McGovern • • •F. Maury ⏚
in reply to Frank Heijkamp • • •@alterelefant Not all cryptocurrencies are based on proof of work. Proof of work is not sustainable. Other consensus methods might be.
For instance, the FBA (federated byzantine agreement) is a nice decentralized consensus protocol that does not consume a lot of energy and material; it is just "sending messages", like an email server.
I do not care much about cryptocurrencies (I owned like 40 BAT from using Brave and that's it), but I like smart protocols and cryptography :)
Gerry McGovern
in reply to F. Maury ⏚ • • •@x_cli
But there always has to be a cost in creating these currencies, doesn't there? Otherwise, where is the perceived value? And, in one way or another, the cost is always borne by our environment: energy, water, materials.
@alterelefant
F. Maury ⏚
in reply to Gerry McGovern • • •Different Drummer
in reply to Gerry McGovern • • •Stefan
in reply to Gerry McGovern • • •@oliver
Underfaker
in reply to Gerry McGovern • • •Your information are focusing on one type of Blockchain: Proof of Work.
There are alternatives available. So please, your onesided statetement is at least wrong.
(So this is only true for Bitcoin etc. but not Blockchain in general)
#FreeSchool ⬅️ (see hashtag)
in reply to Gerry McGovern • • •Sensitive content
I would have liked this post to say the "how" it's wasted more technically - so those examples it's compared to doesn't seem disconnected (like comparing it to 2.14 iPhones is quiet poor / distant)
Water was a better comparison but "how" is important in each transaction and apportioning to time
Because everything consumes AND over time will always get to these numbers (bank coins for example and re-minting them MASSIVE #ENERGY but maybe at the start and then there is their own politics not compared to with #banks who as poor #standard now are not mentioned and hardly any better / fairer / politically or planetary-aligned! I'd say the opposite and even their interest in #bitcoin to confirm that!)
"#Currency = #Politics" #FreeSchool
#Crypto #Bank #Material #Consumption #Speculation
#Transformation is not #Fair (is a human-thinking realm (interpretation of reality) rather than #material #realm / #physical #objects)
Aral Balkan
in reply to Gerry McGovern • • •Gerry McGovern
in reply to Aral Balkan • • •@aral You're 100% correct. There's nothing remotely sustainable about bitcoin or crypto. It's a giant environment-destroying scam.
And this idea that if bitcoin was using 100% 'renewable' energy that everything would be ok, that's another scam. There is no such thing as 'renewable' energy and there is no such thing as 'sustainable' bitcoin.
Preston MacDougall
in reply to Gerry McGovern • • •Gerry McGovern reshared this.
Rock'n'Roll_φapy 🔻
in reply to Gerry McGovern • • •Gerry McGovern reshared this.
Gerry McGovern
Unknown parent • • •Mike Fraser
in reply to Gerry McGovern • • •Gerry McGovern reshared this.
Zdeněk Doležal
in reply to Gerry McGovern • • •Gerry McGovern
Unknown parent • • •Couldn’t agree more. From top to bottom, Bitcoin is a criminal scam and everyone involved knows it.
@hypostase @alterelefant
#FreeSchool ⬅️ (see hashtag)
in reply to Gerry McGovern • • •Sensitive content
This reply is a bit question but not intended to harm or be fan of anything... just see if you can answer...
❓ Can we agree nothing is totally sustainable (not right now) in the fact one / you / we *have to USE SOMETHING UP* in order to transform or change something else ?
❓ Banks are not sustainable either with their currency - right?
(coins, notes, credit cards, paper bills, slips, shop-front units ! etc)
Just checking base-morality there - with or without #crypto topic)
More explained below but those are the basic questions:
Not justifying anything but if you think coins, notes, credit cards etc + banks and people behind them are all great then we have to re-consider that.
On top of just material, is them ( #Banks ) funding both sides of war and their own questionable #morality, they are preying on your savings (using them) as we speak to create #loans as debt that #crypto doesn't seem to have!
#Debt is also a sucking out of all #life and people's #energy that any #Bank didn't need to ask for so highly in return and make people work harder for in #mortgages etc (and other dangerous power constructs leading to #usury)
What do you think?
Gerry McGovern
in reply to #FreeSchool ⬅️ (see hashtag) • • •#FreeSchool ⬅️ (see hashtag)
Unknown parent • • •Sensitive content
Hi, Daniel - are you saying currency itself is not speculated or hoarded ! ❓
And do you think governments / banks are not themselves making decisions - that somehow the creation of money doesn't have "inherent value" (such as being debt-based) or released into circulation *based* on bonds, stock-markets, assets, buy / selling, paying fees for (reducing it's actual worth) ETC!❓