Essentially, bitcoin isn't widely used at the moment, so the people saying it doesn't consume massive amounts of energy are correct at the moment, but imagine if it were used like the dollar
Bitcoin is an absurd self-reinforcing thing where the more electricity you need to mine it the higher the price becomes, and the higher the price becomes the more people "invest" in mining it, and it's all completely uncoupled form how useful it is or how many transactions it can process.
If crypto were our default mode of payment it would be responsible for 500% of our current CO2 emissions.
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Essentially, bitcoin isn't widely used at the moment, so the people saying it doesn't consume massive amounts of energy are correct at the moment, but imagine if it were used like the dollar
So I think that the commenter was considering the current carbon footprint of bitcoin and extrapolating it to USD usage
Origin is dunking on this bullshit politico article
Extrapolating doesn't really work because the power needed to produce a block doesn't depend on how many transactions are in it.
A rising Bitcoin price would probably attract even more miners.
Then again mining equipment is pretty scarce so idk.
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Idk this is just what they said
I'm dumb
Bitcoin is an absurd self-reinforcing thing where the more electricity you need to mine it the higher the price becomes, and the higher the price becomes the more people "invest" in mining it, and it's all completely uncoupled form how useful it is or how many transactions it can process.