Aral BalkanJan 21, 2021

The energy consumption of Bitcoin exceeds that of the Netherlands (https://cbeci.org/cbeci/comparisons)

Bitcoin is a crime against our habitat and thus a crime against humanity.

Cambridge Bitcoin Electricity Consumption Index (CBECI)

The Cambridge Bitcoin Electricity Consumption Index (CBECI) provides a real-time estimate of the total electricity consumption of the Bitcoin network. The CBECI is maintained by the Cambridge Centre for Alternative Finance (CCAF) at Judge Business School, University of Cambridge.

Show threadSteerpikeJan 21, 2021
@aral wow. that's fucked up.
Show threadDick Smiths Fair Go SupportersJan 21, 2021

@actualsteerpike
Its not true.

Debunked years ago.

Show threadBeJan 27, 2021
@dsfgs @actualsteerpike The problem with Bitcoin is that it is structured to incentive perpetual growth in the energy expended to keep the system running. So it may have not been so bad years ago, but it is now, and it will only get worse or stop entirely. The BItcoin system cannot be improved; the problems are inherit in its design.
Show threadHunter JozwiakJan 27, 2021
@be @dsfgs @actualsteerpike And yet investors flock to it like moths to flame. 😖
Show threadDick Smiths Fair Go Supporters

@sektor
The only thing that incentivises #perpetualGrowth is debt-based #FiatCurrencies and #stockMarketing.

Look into fractional reserve banking to see real #exponentialGrowth.

Gold and #bitcoin are deflationary and wouldn't allow the kinds of debt growth and global destruction we've seen over 50 years.

Also bitcoin mining is designed to respond dynamically to the amount of energy available. If less energy is out there then the difficulty of mining will decrease.

@actualsteerpike @be

Jan 27, 2021 at 1:52pmWeb
Show threadDick Smiths Fair Go SupportersJan 27, 2021

@sektor @actualsteerpike @be
We really wish everyone would read up on how it works before reverting to tired tropes.

The more money govts print for the warcrimes, fracking, etc. The more destruction we will see. It almost has nothing to do with bitcoin.

Bitcoin is selfRegulating because the unsustainable models go away without massive bailouts.

US citizens reportedly waste the same amount of energy on idle appliances than bitcoin uses.

In context, bitcoin rocks.