Re:PayPal Bids $500M to Acquire Crypto Startup Curv
by G3rn0ti on Wednesday March 03, 2021 @02:02PM
(#26332860)
> Not surprisingly lots of mining is colocated with hydropower
And, hence, miners’ energy use does not correlate to their carbon footprint directly. That’s often overlooked.
Furthermore, there is a strong economic incentive for Bitcoin miners to save energy to stay more competitive. Bitcoin mining is done on specialized hardware (ASICs), nowadays, and these devices will get more efficient since the market is still in its infancy.
BTW: What do you think is the carbon footprint of Netflix, YouTube or Pornhub? And what’s their economic utility? If we start critizing IT projects for their energy usage, I don’t think Bitcoin & Co are the biggest culprits.
And, hence, miners’ energy use does not correlate to their carbon footprint directly. That’s often overlooked.
Furthermore, there is a strong economic incentive for Bitcoin miners to save energy to stay more competitive. Bitcoin mining is done on specialized hardware (ASICs), nowadays, and these devices will get more efficient since the market is still in its infancy.
BTW: What do you think is the carbon footprint of Netflix, YouTube or Pornhub? And what’s their economic utility? If we start critizing IT projects for their energy usage, I don’t think Bitcoin & Co are the biggest culprits.