I skimmed this but it seems pretty heavy motivated reasoning.
> However, despite being extremely energy intensive, per unit power consumed, Bitcoin mining is probably one of the most environmentally friendly activities in the world. This is due to the unique flexibility with respect to where the power is required. This means miners often choose renewable power due to the low stable costs or miners are able to use otherwise wasted or stranded energy. This is a fact often claimed by Bitcoin proponents and it is probably true. Per unit power consumed Bitcoin is likely to be exceptionally environmentally friendly.
Ok, but what's actually happening? We can pontificate about how bitcoin mining could be hypothetically switched over to entirely renewable power because it is geography and time independent, but what's the cold hard reality?
What % of energy used in bitcoin mining is from coal or other fossil fuels?
What's the delta amount of fossil fuels burned compared to bitcoin not existing? How does that compare to other ways of sending money digitally?
Any defence of bitcoin on environmental grounds that dodges that question is flaky at best.
I'm only talking analytics-quality data here, at the very least you would look at the major players and see where they are based. You would at least want to include anyone capable of doing setting up their own power plant specifically for mining, like these guys https://www.bbc.co.uk/news/av/technology-58020010
> However, despite being extremely energy intensive, per unit power consumed, Bitcoin mining is probably one of the most environmentally friendly activities in the world. This is due to the unique flexibility with respect to where the power is required. This means miners often choose renewable power due to the low stable costs or miners are able to use otherwise wasted or stranded energy. This is a fact often claimed by Bitcoin proponents and it is probably true. Per unit power consumed Bitcoin is likely to be exceptionally environmentally friendly.
Ok, but what's actually happening? We can pontificate about how bitcoin mining could be hypothetically switched over to entirely renewable power because it is geography and time independent, but what's the cold hard reality?
What % of energy used in bitcoin mining is from coal or other fossil fuels?
What's the delta amount of fossil fuels burned compared to bitcoin not existing? How does that compare to other ways of sending money digitally?
Any defence of bitcoin on environmental grounds that dodges that question is flaky at best.