Bitcoin Energy Per Transaction Metric Is Misleading

Bitcoin Energy Per Transaction Metric Is Misleading

Environmentalists say Bitcoin makes use of an excessive amount of power. The world can’t afford it. It’s not price it. That’s what they are saying. So, it have to be true. Or should it? Should you’re studying this, you’re most likely conscious of the favored anti-Bitcoin “power per transaction” narrative. You’ve seen it in lots of main media publications. It goes one thing like this:

“In line with Digiconomist, a single bitcoin transaction makes use of the identical quantity of energy that the typical American family consumes in a month — which equals roughly one million occasions extra in carbon emissions than a single bank card transaction. And globally, the carbon footprint of bitcoin mining is bigger than that of the United Arab Emirates and falls slightly below the Netherlands.”

–”Environmentalists Sound Alarm At US Politicians’ Embrace Of Cryptocurrency,” The Guardian

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