Why Bitcoin Is Bad for the Environment
Cathie Wood's Bitcoin Claims Are Overheated
https://www.bloomberg.com/opinion/articles/2021-04-23/cathie-wood-s-arkk-green-bitcoin-claims-are-overheated
“Judging by Wood’s enthusiastic tweets claiming the new research debunks the “myth” of Bitcoin’s environmental harm, one wonders if this report was designed to solve a problem or protect an investment. The message being sent out is that it’s not up to Bitcoin to fix its glaring issues — such as energy-inefficient mining algorithms that were always going to create problems at scale — but it’s the rest of the world that must adapt. Given the huge amount of money riding on Bitcoin staying just the way it is, namely digital gold to be hoarded speculatively rather than spent efficiently, its defenders will probably keep pushing complicated workarounds, not fundamental change”.
“Judging by Wood’s enthusiastic tweets claiming the new research debunks the “myth” of Bitcoin’s environmental harm, one wonders if this report was designed to solve a problem or protect an investment. The message being sent out is that it’s not up to Bitcoin to fix its glaring issues — such as energy-inefficient mining algorithms that were always going to create problems at scale — but it’s the rest of the world that must adapt. Given the huge amount of money riding on Bitcoin staying just the way it is, namely digital gold to be hoarded speculatively rather than spent efficiently, its defenders will probably keep pushing complicated workarounds, not fundamental change”.
Electricity needed to mine bitcoin is more than used by 'entire countries'
https://www.theguardian.com/technology/2021/feb/27/bitcoin-mining-electricity-use-environmental-impact
Bill Gates Sounds Alarm on Bitcoin's Energy Consumption–Here's Why Crypto is Bad for Climate Change
https://www.forbes.com/sites/jonathanponciano/2021/03/09/bill-gates-bitcoin-crypto-climate-change/
https://www.theguardian.com/technology/2021/feb/27/bitcoin-mining-electricity-use-environmental-impact
Bill Gates Sounds Alarm on Bitcoin's Energy Consumption–Here's Why Crypto is Bad for Climate Change
https://www.forbes.com/sites/jonathanponciano/2021/03/09/bill-gates-bitcoin-crypto-climate-change/