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Lars Dittmar Debunks Crypto Climate FUD 👉 https://youtu.be/lA3iBUqsGhY
Bitcoin vs. Gold 👉 https://youtu.be/B_QaL9fAKoM
Fiat Currency Ponzi Scheme 👉 https://youtu.be/L_f6R0DHNH0
What Happens When All Bitcoin Is Mined 👉 https://youtu.be/Iyy2-FUAFcU
– TIMESTAMPS –
2:01 Crypto Mining Explained
4:48 Bitcoin Mining Climate Claims
8:41 Bitcoin Mining Energy Use
10:55 Green Energy Bitcoin Mining
13:58 The Real Cause Of Climate Change?
⛓️ 🔗 Useful Links 🔗 ⛓️
► Bitcoin Mining Map: https://cbeci.org/mining_map
► Full 2018 Article From Nature Climate Change Journal: https://www.researchgate.web/publication/328581842_Bitcoin_emissions_alone_could_push_global_warming_above_2C
► Bitcoin Mining Energy Consumption Estimate: https://www.bbc.com/information/science-environment-56215787
► Gold Mining Energy Use: https://www.forbes.com/websites/lawrencewintermeyer/2021/03/10/bitcoins-energy-consumption-is-a-highly-charged-debate–whos-right/?sh=16542fdc7e78
► Square Report On Bitcoin Green Energy Mining: https://belongings.ctfassets.web/2d5q1td6cyxq/5mRjc9X5LTXFFihIlTt7QK/e7bcba47217b60423a01a357e036105e/BCEI_White_Paper.pdf
► 70%+ Of Bitcoin Miners Use Renewable Energy: https://www.coinbase.com/study/crypto-basics/7-biggest-bitcoin-myths
► Bitcoin Miners Reusing Heat Energy: https://braiins.com/weblog/green-innovation-in-bitcoin-mining-recycling-asic-heat
► Jeff Booth Discusses Inflation & Climate Change, How Bitcoin Fixes It: https://youtu.be/0Q9_-WDhpoQ
⛏Crypto Mining Explained⛏
Proof of labor is basically meant to simulate actual world useful resource mining in a digital method with complicated equations, therefore why cryptocurrency is ‘mined’ by specialised computer systems known as ‘miners.’
There are over 1 million Bitcoin miners world wide, and that’s along with the hundreds of thousands of miners processing transactions for different proof of stake cryptocurrency networks like Ethereum and Litecoin.
All this cryptocurrency mining is utilizing quite a lot of power and this has many individuals involved concerning the impact cryptocurrency mining could possibly be having on the local weather.
🕵️♂Bitcoin Mining Climate Claims🕵️♂
Although issues about crypto’s impact on the local weather have been round since Bitcoin started again in 2009, it wasn’t till the 2017 crypto market increase that these issues began to make the information.
Many of the headlines we see in the present day are virtually an identical to those we noticed again then, and a lot of the statistics cited by in the present day’s and yesterday’s crypto local weather critics all come from a single supply.
This supply is an educational article printed in 2018 to nature’s local weather change journal. It argues that emissions from Bitcoin mining alone may enhance the worldwide temperature by 2 levels.
When you take into account Bitcoin’s comparatively small power consumption on the worldwide scale, the numbers from this text don’t add up.
⚡Bitcoin Mining Energy Use⚡
Nobody is definitely positive how a lot power Bitcoin mining makes use of. The University of Cambridge estimates it could possibly be anyplace between 40 and 440 terawatts per yr.
For context, the Netherlands makes use of 121 terawatts of power per yr, Argentina makes use of 300 terawatts, and the United States makes use of a whopping 4000 terawatts.
Bitcoin just isn’t a rustic, it’s a monetary system, and once you examine apples to apples, cryptocurrency provides essentially the most power environment friendly monetary system on this planet.
☀Green Energy Bitcoin Mining☀
Cryptocurrency mining has accelerated the expansion of inexperienced power. This is as a result of miners go to the place energy is the most cost effective, as a result of cheaper energy means extra earnings.
As it so occurs, renewable power sources like wind, photo voltaic, geothermal, and hydroelectric price half as a lot as coal and pure gasoline.
While the University of Cambridge estimates 40% of all Bitcoin miners use renewable power, current statistics recommend this determine could possibly be as excessive as 70 %.
👀The Real Cause Of Climate Change?👀
In his e-book ‘The Price of Tomorrow’, Jeff Booth argues that the widespread denominator on this planet’s environmental woes is definitely inflation.
This is as a result of inflation incentivizes spending over saving, which creates pointless consumption, waste, and power utilization. By distinction, Bitcoin is deflationary and incentives saving.
📜 Disclaimer 📜
The data contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who just isn’t a licensed monetary advisor or registered funding advisor. Trading cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any specific consequence.
#Bitcoin #BTC #mining #local weather #crypto