EPISODE · Feb 25, 2021 · 6 MIN
Bitcoin's Energy Consumption
from HyperChange · host Gali
Bitcoin's energy consumption has stayed flat since mid 2018 (almost 3 years), despite huge growth in users, and dollars moved on the network. Many skeptics point to the irony of Tesla buying Bitcoin (because of its focus on renewable energy), but fail to understand this. The monetary system requires energy. Yes, Bitcoin consumes a lot, but it's not more than we can handle, especially if the trend of rising average transaction values continues. What are your thoughts on this? Was it hypocritical for Tesla to buy Bitcoin? Are you happy they did?
What this episode covers
Bitcoin's energy consumption has stayed flat since mid 2018 (almost 3 years), despite huge growth in users, and dollars moved on the network. Many skeptics point to the irony of Tesla buying Bitcoin (because of its focus on renewable energy), but fail to understand this. The monetary system requires energy. Yes, Bitcoin consumes a lot, but it's not more than we can handle, especially if the trend of rising average transaction values continues. What are your thoughts on this? Was it hypocritical for Tesla to buy Bitcoin? Are you happy they did?
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Bitcoin's Energy Consumption
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