Is Bitcoin The Ultimate Energy Waste Reduction Tool – OilPrice.com

by | Oct 16, 2022 | Energy

Miners will consume every last drop of wasted energy available, because they’re incentivized to do so.The layperson knows only one thing about Bitcoin mining – it uses a lot of energy, and that is bad. This mind-virus, successfully spread by the climate extremists and anti-Bitcoin street corner preachers (typically carrying a proof-of-stake torch) is intended to be the death knell of our burgeoning industry. We use a lot of energy, and using energy is obviously a terrible thing. It follows that we should be scorned, pursued and regulated out of existence.We are in a climate crisis, so as we all know, the best course of action is to install solar on your roof, buy a Tesla, shut down the coal and gas plants in your region, and argue anything short of that is systematically racist. Proof-of-work is the enemy.This argument is, to most reasonable people who enjoy running their dishwasher and having the lights on at night, patently ridiculous.But there is still that one big issue: “Doesn’t Bitcoin mining still use a lot of energy? And don’t those computers clog our landfills the second they become unprofitable?”If you find yourself under the interrogation of the Bitcoin curious, having to answer for all of those megawatts we’re consuming, there is one question you must ask in response to, “Doesn’t Bitcoin use a lot of energy?”Yes, but which energy?NOTE: Before we go any further, let’s draw a clear distinction between energy and electricity. Energy comes from primary sources like a natural gas well, or hydro …

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