Bitcoin Mining: Key Stat Exposes Ridiculous Energy Consumption FUD

Bitcoin Mining: Key Stat Exposes Ridiculous Energy Consumption FUD


By CCN: Antoine Le Calvez, a researcher for CoinMetrics, set out to determine how Bitcoin’s environmental impact compares to that of the auto industry. His striking conclusion? US vehicles consume roughly the same amount of energy in three days as Bitcoin has consumed in its entire existence. The figure converts the energy used to propel cars and the amount of oil required (reportedly 1.3 million tons per day) to the amount of energy used to mine Bitcoin over the past ten years. 1790635332537685941996748800 hashes computed by S9 miners ~= 1.75 e17 joules ~= 4.2M tons of oil. US cars consume

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Posted by P. H. Madore on April 15, 2019 @ https://www.ccn.com/bitcoin-mining-key-stat-exposes-ridiculous-energy-consumption-fud

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