Re:Bitcoin surpasses $50K as major companies jump into crypto
by jypepin on Wednesday February 17, 2021 @12:14AM
(#26162982)
there is a lot of fuss about bitcoin energy needs, but plenty of proof that it's not well founded.
You compare it to Visa, but actually visa does only part of what bitcoin does (transactions), and does it using _other_ systems themselves also using energy (security, banking, etc).
Nowadays bitcoin is mostly seen as a store of value, to which it should then be compared to gold. Gold has a much higher carbon footprint than bitcoin, both for mining, storing, transactions, etc.
You compare it to Visa, but actually visa does only part of what bitcoin does (transactions), and does it using _other_ systems themselves also using energy (security, banking, etc).
Nowadays bitcoin is mostly seen as a store of value, to which it should then be compared to gold. Gold has a much higher carbon footprint than bitcoin, both for mining, storing, transactions, etc.
there are a lot of writings about this, some answering a recent article posted on HN here https://www.coindesk.com/what-bloomberg-gets-wrong-about-bit...