6 years ago
2
The 'utopian' currency Bitcoin is a potentially catastrophic energy guzzler
Bitcoin has been viewed as a liberating path out of the corporate monetary system. But the process of 'mining' the cryptocurrency is a massive energy drain - and potential environmental disaster.
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The real question is whether Bitcoin is a bigger environmental disaster than the traditional economic/political system. I don't see banks or corporations worrying much about their impact on the environment.
Bitcoin as a technology is capable of innovation both in computing power and energy usage, and there is definitely reason to innovate. I can't say the same about other dangers to the environment.