Once again, my local paper the "Minnesota Star Tribune" (formerly the "Minneapolis Star Tribune" has an opportunity to correct the "uses a huge amount of energy" narrative for Bitcoin but goes for the lazy way out.
What happened to journalists who researched complex articles? Where are they?
Reality:
"Banking uses 56 times more energy than Bitcoin: Valuechain report"
https://cointelegraph.com/news/banking-uses-56-times-more-energy-than-bitcoin-valuechain-report
Lyn:
Lyn wrote this recently update article: "Bitcoin's Energy Usage Isn't A Problem. Here's Why"
She starts by saying how Newsweek did this prediction:
For example, back in December 2017, Newsweek ran a piece called, “Bitcoin Mining on Track to Consume All of the World’s Energy By 2020“
All the world's Energy: 176,000 TWh
Bitcoin usage: 100 TWh
(As Lyn stated, less than one tenth of one percent and never mind the well known 2-3% off either way factor with this type of analysis. One word English translation: NEGLIGIBLE. The business term is 'Rounding Error.')
Update 2/20/2023: Listen to Saylor explain the Bitcoin Energy Usage compared to the US Navy, the "Nuclear Navy", more distributed, wall of energy, "silicon ratchet","all the computing power in the world, 10%, wouldn't dent Bitcoin" :
Banks: 4,981 TWh
Best quote by Troy Cross: "Bitcoin doesn't waste energy, Bitcoin uses waste energy."
Finally, though when the bankers are paying the politicians:
