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The utopian currency Bitcoin is a potentially catastrophic energy guzzler
- deleted 9y ago[deleted]
- billions 9y agoHow much energy does it cost to build, power, and commute to bank office buildings?
- juicyfroot 9y agoThis. Bitcoin is extremely efficient when full large blocks will be processed (Bitcoin Cash big blocks). The level of propaganda is appalling. Bitcoin uses less electricity than Citibank alone. Energy is used to create a secure unbreakable system.
- kneel 9y ago>In essence, the creation of a new Bitcoin requires the performance of a complex calculation that has no value except to show that it has been done. This is incorrect, the massive amount of electricity that goes into cooperative bitcoin hashing also contributes towards the security of bitcoin. It would take, at minimum, an equally massive amount of electricity to compromise the network.
- mhurd 9y agoI think the point is, there are alternatives...