@rah
more from that month
Just watched a very interesting featurette on Sky News about the environmental impact of BitCoin mining. Anybody else seen it? It showed a secret farm located in an industrial complex in China that's electricity consumption was masked by the other manufacturing processes (implied not said directly) in the unit. The thrust of the item was that BitCoin mining is destroying the environment. Based on the figures it gave the unit was producing 2 BitCoin a day (£80,000). However, in the conclusion they showed a legal BitCoin farm that is powered my hydro-electricity rather than coal and it was described as clean. So in the end it was a bit of a mixed message that comes down to the same thing every time. Electricity per se isn't so bad - but it depends how it is sourced. Nothing wrong with mining just make sure you know where it is sourced from. The is #Cryptotalk
3 comments
I'm working on a content.... rather still an idea... (this is also a curious move if you like the idea) which tackles the question wether crypto is responsible for the increase in environmental issues or not. I think the question should not be polarised on Crypto vs. FIAT moneys energy consumption, rather challenge ourselves that humanity isn't developing enough. The energy sector, although we need energy for the daily activities, doesn't evolve the same scale as it should be. In the comments as you mentioned before me: we should have more reusable energy.... Maybe the increasing footprint will trigger more alarm and speed up the transition to cleaner, greener energies. I'm certainly interested how this will go... Nice post BTW I missed this report.
It might be available on Sky News catch up. i saw it was going to be on late last night and I was about ready to go to bed - so I recorded it and watched it this morning As for your idea I think that it is a good like for like comparison and with so much greenwashing going on nowadays we need to strip away the propaganda and provide a real analysis Its a bit like the recycled paper arguement It is better to use virgin wood from a sustainable and well managed forest or to recycle. Well if recycling involved transporting the used paper 100s of miles and then heavy industrial processes are used that are both power hungry and and strong chemical dependent then we are better off just cutting down a tree to produce paper locally and planting one or two more. Or better still take the local option but at the same time discourage paper usage as much as possible
Valid opinion, great advice and thank you! Maintaining fact based arguments, clear analysis it became harder these days as I see, almost everywhere. There is always an angle, a huge, green BUT which should be left apart in order for a more rational approach. I like your "green-washing" expression, it's accurate as your example you mentioned here. In my opinion, real economic analysis became just few these days. We put too much weight to the financial side of things, just for the sake of financial values instead of utility. Certainly a lot of things needs to be discussed, and I'm looking forward to these ideas.