[2018-08-23]Energy Researcher: Bitcoin Energy Crisis is a Red Herring, BTC Not a

[Vladdirescu87]

Energy Researcher: Bitcoin Energy Crisis is a Red Herring, BTC Not a 'Bad Guy'

The amount of power consumed by Bitcoin mining isn't the world environmental crisis it is usually made out to be. This is according to the professional assessment carried out by Katrina Kelly-Pitou, who is a research associate in computer and electrical engineering at the University of Pittsburgh.
Katrina censures the characterisation of Bitcoin mining's power consumption as some kind of necessary design flaw, indicating that the prevailing narrative surrounding crypto as an environmental risk is a gross oversimplification that motivates the wide dissemination of factual inaccuracies as obtained wisdom.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/bitcoin-energy-crisis-is-red-herring/

[hatshepsut93]

Using green and excess energy will reduce the negative environmental effect of mining, but improvements in energy efficiency won't, because they would only mean that more electricity can be allocated to mining. This is because the goal of PoW is to establish equilibrium between network's value and amount of energy needed to secure that value. But there are other factors, like how most of Bitcoin's supply will be mined in the next 15 years and block rewards will become very small, so the energy consumption will not increase linearly, even if the price will increase dramatically.