Bitcoin mining and its energy use is back in the news again. What is the reality of the industry and what are you not being told?

Sources
https://www.wired.com/story/bitcoins-climate-impact-global-cures-local/
https://coinshares.co.uk/bitcoin-mining-cost-june-2019/
https://medium.com/coinshares/surprise-majority-of-btc-energy-sourced-from-hydro-wind-solar-49f73839aec6
https://www.longhash.com/news/bitcoin-uses-a-lot-of-energy-but-gold-mining-uses-more

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29 COMMENTS

  1. RECOMMENDED EXCHANGES & WALLETS

    GET FREE CRYPTO

    ABRA – GET $25 IN BTC – (US bank deposits or AMEX)- https://invite.abra.com/p9lwV0WqCR

    COINBASE – GET $10 Free Bitcoin on sign up! https://bit.ly/2zqeVfV

    LIQUID – GET $10 FREE QASH (verify & make $100 trade) – https://www.liquid.com?affiliate=Gtrf6wJG586147

    TAKE YOUR SECURITY SERIOUSLY – GET A HARDWARE WALLET

    LEDGER NANO https://www.ledgerwallet.com/r/6877

    TOP EXCHANGES

    BINANCE – #1 Crypto Exchange https://www.binance.com/?ref=10192350

    BINANCE JE – BUY CRYPTO IN POUNDS & EURO https://www.binance.je/?ref=35019746

    CERTIFIED CRYPTOCURRENCY BROKERAGE

    CALEB & BROWN – Brokerage – Trade OTC like the big guys https://bit.ly/2Feq8F6

    LEARN TO TRADE AND MASTER CHARTS

    TRADER COBB 10% OFF CODE THELARK10 – https://tradercobb.com/?ref=169

  2. Captain Planet and the Planeteers say you all should be ashamed for supporting btc and all its POW brethren.
    Something people are forgetting is what happens when btc is 1mil and bitcoin sv, bitcoin cash, diamond, bitcoin gold all are super high prices too..  all being mined up.. and more forks happen.. with more miners on those.. and more.. and more miners stacking onto more miners.. and other alts that are also PoW-based..   How many PoW coins do we have? we could see crypto taking the lead as the number 1 pollution when we look at all their combined efforts. 
    Over a stupid ledger! 
    more coal.. more nuclear waste. for supporting it by giving money to it to encourage miners.
    I'm all for crypto but it has to be responsible by being as green as possible

  3. "Broke: Bitcoin is going to accelerate global warming.

    Woke: An economy built upon inflating the money supply so people have no choice but to spend money on frivolous goods is going to accelerate global warming."

  4. I wonder how how many trees the fed has cut down and how much electricity and how much fuel they have used printing money. first the trees are cut down and logged to the mill then put all this fancy fake ink on it then they load it uo in trucks and ship it everywhere then they repeat this cycle over and over again. Money printing not only is a deception its using more energy than bitcoin

  5. This video was absolutely brilliant. Your mind is like an open channel to the source. With my ADHD, I forget what you sad after you said it as there is so much you have to clearly say. I love how you can teach so well. You would be a fun dude to hang out with. Great job man, when I have time I would love to watch your older videos. 94k subscribers, shit man, I hope you know how famous you are going to be soon. Now its the crypto seen, soon to be a large chunk of the world and you have what most people don't and you don't waste time pretending the audiance are there to be your friends, (although we all are). You are one of the most brilliant minds in a cool dude packages I've had the pleasure of learning from. Thank you for all that you do and good luck on this journey of yours as it is going to grow BIG. Maybe I will get to know you along this journey. That would be cool. Peace. Mike Simpson

  6. The main thing people DO NOT take into consideration when it comes to energy consumption and renewables, is that most houses and buildings in the world have PISS POOR INSULATION! The more efficiently a building can hold in cool air when it is hot outside, and warm air when it is cold outside — the less often heaters and air conditioners need to kick on, which means FAR LESS ENERGY is being used.

    So what does that have to do with the energy used by AC to cool rooms with computers in them? Absolutely nothing. What it has to do with, is the absolute hypocrisy of people who complain about the amount of energy Bitcoin mining uses when most buildings in the world are HEMORRHAGING ENERGY due to being insufficiently insulated. That problem ALONE wastes infinitely more energy than Bitcoin mining EVER COULD.

    How do I know this? Well, I've been reducing my own electric and gas bills drastically by continuing to improve the insulation in my home. Not only have my costs gone down because my usage has gone down because heaters and air conditioners (and when it gets real cold the gas heat kicks in, but not as much anymore!!!) don't have to kick in as often — but it has become such a reduction that the gas company thought my meter was broken and they replaced it as a result of that assumption! LOL!

    The first step to renewable energy should be proper insulation! Otherwise, having a home that has insufficient insulation use renewables, is like having a car that gets 150MPG but has a hole in the gas tank!

  7. Even if greater than 50% of the world energy goes to securing the Bitcoin blockchain, it would be worth it because we absolutely need a decentralized alternative to Central banking.

  8. a question: what happens at day X, when all bitcoins are mined? there still will be "mining" power needed to execute a transaction, but without rewards to the "miner" ?

  9. I don’t know where I would’ve been without Egan I gave him some money and he traded for me when he sent me the profits I was in awe and I put in even more money and he keeps giving me bigger and better profits, I am so glad I can work with him I think you should too message him on Instagram: eganhacks or WhatsApp: +1 (206) 855-3583
    I told him I’ll tell everyone about him

  10. The electricity costs of Bitcoin do not scale with transactions or price inherently. Bitcoin could run on a tenth of its present energy usage or less. However, miners bid up the energy usage because it is profitable for them to do so. Since the reward goes down by 2 every 4 years, this actually reduces the incentive for miners to spend a lot of money on electricity. The whole argument is environmental nonsense.

    Remember the environmental movement wants 95% of the world's human population dead. They are EVIL and should never even be given the time of day.

  11. u support assange and not bsv? they r both the same: they stand for commoners, fairness, transparency, and justice. please crypto lark, be true to yourself and humanity. btc got co-opted by core devs and will never scale for billions of ppl. bsv will.

  12. Good point Lark, also it's important to note that it would be far better for all if a coin with no energy concerns, and a coin that performed much better, was mass adopted to be used for trillions of transactions per day for billions of people.

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