A Closer Look at the Environmental Impact of Bitcoin Mining

cryptonews.com

15 pointsdelaaxe5 comments

> Bitcoin is like FedWire.

Except that FedWire connects Banks and Financial firms and BTC is traded by everyone? Just wishing BTC to be the equivalent of a settlement system doesn’t make it so.

Millions of people hold BTC in wallets and elsewhere and will continue to transact on chain. That’s what it was built for (decentralised electronic cash).

This shifting of narratives behind BTC is just tiring.

Can someone do some fact checking here?

It's light on the facts, so there's little to fact check.

There is however this gem highlighted in the article: "It is to humanity’s benefit to consume more energy, not less".

Deeply, fundamentally true. If we want to touch the stars, we will need a lot of energy. Hopefully it’s clean energy! Fighting energy is a foolish quest, it’s like fighting to use less air for a growing population.

If you want to go deep, then consider that using energy makes the heat death of the universe occur more quickly.

Reply on news.ycombinator.com