BCA Research’s chief global strategist, Peter Berezin, predicted that Bitcoin’s Achilles heel will begin to scare off corporate investors off and cause governments to erect more obstacles to it success. The first to flee will be environmental, social, and governance-focused funds he said, adding that they will shun companies involved with Bitcoin, not just the cryptocurrency itself.
Bitmain proves Bitcoin’s environmental threat was overblown
Bitmain’s latest numbers and change in one index makes the future not as bleak
Remember when Bitcoin’s energy consumption was going to destroy the world? It turns out that the planet’s demise at the hands of crypto miners may have been greatly exaggerated. Bitmain’s recent financial filings and a new change in in how a much-touted number, the Bitcoin Energy Consumption Index, is calculated should allay fears that crypto will singlehandedly destroy our planet.
Bitcoin can’t destroy the world if most people continue ignoring it
Reports about the world’s death from Bitcoin might be greatly exaggerated
Bitcoin’s white paper came out a decade ago this week, and perhaps a positive sign of its success is this week’s big, dire headline: “Bitcoin emissions alone could push global warming above 2°C.” However, there’s a problem (or, perhaps, not really a problem): the paper was written with the assumption that the Bitcoin bulls and HODL bros are right. Reality may say otherwise, to the benefit of the global environment. Written by seven academics at the University of Hawai‘i and published by Nature, the piece used a significant part of Alex de Vries’ work on his site, Digiconomist. De Vries has been sounding the alarm regarding Bitcoin’s threat to the…
Opinion: Bitcoin’s environmental woes may not be so bad after all
Bitcoin gets a lot of heat over a lot of heat
People who are usually up in arms about stuff are up in arms over bitcoin. Specifically, over the huge amount of energy used to process transactions and keep the blockchain going. In early December, environmental news site The Grist published a story by Eric Holthaus. “Bitcoin could cost us our clean-energy future,” warns the headline which also infers there’s some kind of a clean-energy future to begin with. Paragraph after paragraph paints a grim image of the years to come, where bitcoin miners will guzzle more energy than evil capitalist America by next year and then suck the entire planet’s energy the year after like space aliens or something. The…