Bitcoin energy usage IS a problem, and the crypto space would only benefit if everyone admitted that.

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Bitcoin energy usage IS a problem, and the crypto space would only benefit if everyone admitted that.

Let's be real, a lot of people here think bitcoin's energy consumption is not a problem, or it's just green people envious that they didn't make money.

The top rated post now is a post saying that banks consumed 520% more energy than bitcoin, even though the top comments are saying it's a bad argument, there still a lot of people who think the article is right, if you go on Twitter bitcoin maxis are always saying people are dumb because they don't get it how bitcoin is more efficient. Banks processed 200 billions of transactions last year against what, 200 million bitcoin transactions? You don't have to be a genius at math to see that there's no way bitcoin would win if it had the same amount of users and transactions.

I'm not even getting into the argument that there are millions of people working for banks who likely would be working elsewhere and generating co2 emissions nevertheless. Those people work on different areas that you like it or not, are "features" bitcoin doesn't have, banks transaction output is not necessary related with their co2 emission because they do a lot more than sending money from A to B, you can't say the same about bitcoin, transactions = big energy output.

"but defi is the future, we don't need banks". You may be right, but if you look at sites like nexo/celsius, they are still companies with employees, they are competing with banks providing lendings, customer supoort, cards and insurance, not bitcoin. And they are doing fine.

"the media attacks crypto even though most a lot of coins aren't using PoW or will move to something else in the near future". Hmmm, so you are saying there are better solutions out there and still its better to not talk about bitcoin's energy waste? Sorry, but this is just delusional.

Crypto is at its core pushing technology forward and breaking paradigms, and with more adoption it also comes spotlight. If you look into the crypto space in 5 years and see that most coins and decentralized platforms are using something different than pure PoW, and bitcoin is still using PoW and consuming 10x energy from what it does now, you should think that's there's the possibility governments could act against mining, this year you saw hash rate drop with government-instituted blackouts in China, it wouldn't take much for countries to criminalize PoW mining if bitcoin is the only coin doing that and pretending nothing is happening while shouting "I'm the king".

TL;DR: bitcoin's PoW is a cow infinitely farting, there shouldn't be negationism in this space about it as everyone else is inserting corks inside their cows butholes.

submitted by /u/postal_card
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