Bitcoin’s Energy Use is a Feature Not a Bug
Bitcoin incentivizes energy innovations whereas proof-of-stake results in exacerbated inequality since the more money you have, the more money you get.Mickey Koss is a West Point graduate with a degree in economics. He spent four years in the Infantry before transitioning to the Finance Corps.In a recent article titled “Bitcoin Is Not a Store-of-Value,” an author going by the name of 0xStacker provided a seemingly well-reasoned critique of Bitcoin, equating its energy usage to a flaw in the system — a leak that precludes bitcoin from being classified as a sound store of value. I’m here to....
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Bitcoin’s unique energy use incentives, ability to store stranded energy and more make it the future of our energy consumption as a planet.
The data shows Bitcoin’s energy use would represent just a rounding error in the construction, transportation or healthcare industries.
While detractors often cite Bitcoin’s energy consumption as a negative, this doesn’t automatically imply environmental impact.
Breaking Down What “Green Bitcoin” May Mean for the Crypto Industry London-based cryptocurrency firm Argo Blockchain recently announced plans to create the world’s first clean energy Bitcoin mining pool. The firm confirmed its partnership with DMG Blockchain Solutions to launch the world’s first Bitcoin mining pool powered by clean energy. Bitcoin’s Energy Consumption Continues to Skyrocket Bitcoin’s environmental concerns are nothing new. Crypto critics have always questioned the hefty electrical consumption of miners, but as […]
The Bitcoin podcaster and influencer said: “we shouldn’t apologize for Bitcoin’s energy usage, crucial things in the world use energy.” Bitcoin influencer and podcaster Anthony “Pomp” Pompliano said that there is no need to “apologize” for Bitcoin’s energy use, because “crucial things in the world use energy.” He made the comments in a Dec 27 interview on CNBC’s morning news and talk program, “Squawk Box” with Joe Kernen. During the interview, he claimed that many people are missing “key points” in the “climate argument” against the Bitcoin (BTC) ecosystem, especially in terms of....