I just shared this with a German friend and he's curious about Bitcoin but turned off by the energy consumption.
does anyone know a good online resource on the energy consumption of Bitcoin?
ECB Reports Record Loss for 2023, Publishes Another Hit Piece on Bitcoin
- "The ECB is likely to incur further losses over the next few years as a result of the materialisation of interest rate risk, before returning to making sustained profits. The ECB can operate effectively and fulfil its primary mandate of maintaining price stability regardless of any losses."
- "Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers. The latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment."
https://www.nobsbitcoin.com/ecb-reports-record-loss-for-2023-says-bitcoin-has-failed/
Discussion
https://primal.net/e/note1kk297vz8qa7dc3nem7fnmmf0d0hsd35t2074skm3622xal7dav6s4ya620 renote this report from https://www.theirm.org there was also a KPMG report https://kpmg.com/us/en/articles/2023/bitcoin-role-esg-imperative.html Think this was it.
Not sure this is highlighting energy consumption, both reports discuss the misguided exaggeration of hashing's effect on climate as well as talk about stranded energy/load balancing. https://medium.com/coinmonks/what-is-stranded-energy-why-it-matters-to-bitcoin-c9a9a43e4a04
bitcoin doesnt waste energy, it uses wasted energy
Ok, I agree with you. How would you push-back if someone asks why bitcoin miners in China a few years ago were causing more coal-burning to occur.
I know this was the past, and everyone should be free to use energy as they please. However, burning coal really just seems like bad idea. What if this starts to happen again in the next price cycle?