Bitcoin Energy Consumption

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The energy consumption of the bitquim network has gone up more than twentyfold in four years. All this energy is being spent on a process known as mining, where miners try to create new blocks of transactions forbit coins underlying block chain. The emissions associated with bit combining are now more thannegating the entire amount of netsito savings from deploying electric vehicles all around the world. Bitquim miners just love fossil fuels so much that china recently completely banned bitquim mining as idle coal mines were being revived for the purpose of mining bitquoins.

Debate: Crypto vs The Environment It is estimated that the global Bitcoin network currently consumes about 133 terawatt-hours of electricity annually - roughly equal to what is consumed by the nation of Sweden. Crypto skeptics warn that the energy demands of the network are a threat to the environment and that further adoption of cryptocurrency will lead to a harmful rise in carbon emissions. However, crypto advocates say that the figures often used to denounce crypto can be misleading and when you examine the biggest contributing factors to climate change globally, Bitcoin is responsible for just 0.13% of annual carbon emissions. Furthermore, unlike the traditional financial system, they say, networks like Bitcoin continue to make strides in adopting renewable energy with initiatives like the Crypto Climate Accord committing producers to net-zero by 2040. So who's right or wrong? Speakers: Lyn Alden: Financial analyst and founder of Lyn Alden Investment Strategy where she provides tens of thousands of investors with the latest research, information, and tools to help them build wealth and manage digital assets. Subscribe to her newsletter at: https://www.lynalden.com/newsletter-archives/ Alex De Vries: Founder of Digiconomist, a platform dedicated to exposing the unintended consequences of digital trends. The host is Anne McElvoy senior editor and head of podcasts at The Economist. This debate series is is partnership with EQONEX the Nasdaq listed digital asset advisory. Register free for our third debate 'Crypto can bank the unbanked' here: https://www.eventbrite.co.uk/e/debate-crypto-can-bank-the-unbanked-registration-165732106191?aff=ebdsoporgprofile

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