But Bitcoin uses too much energy...
In 2008, US Congress gave unprecedented power to the US Central Bank, known as the Federal Reserve. This power has not been reversed, nor was it temporary, and the power of the purse is being used to benefit the banking class, not regular people. Bitcoin was created to solve the problem of a world where bankers destroy the economy with no recourse. It is worth using energy for. For more on the macro problem of unchecked Central Bank power in society, click here.
Bitcoin’s energy use perspectives from the 'What Bitcoin Did' Podcast with the CEO of Core Scientific, Darin Feinstein.
-160k TWh of energy produced globally every year, which is public knowledge.
-Bitcoin uses 200 TWh, or .00125% annual global energy.
-Electricity and energy are different. Energy is used to create electricity. The US uses 10,600 terra watt hours (TWh) of energy creating electricity.
-6800 of the TWh of energy used to create electricity is WASTED! That means the Bitcoin network, which uses 200 TWh of energy, makes up only 2.9% of the wasted energy in the US alone!
The 'Bitcoin is bad for the environment' smear campaign is a marketing plan against a disruptive new technology that enables property rights for 8b people in the world. Let's end it now!
