Does Bitcoin Waste Energy?
Get the "Ultimate Guide to Bitcoin" course:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.
Get my best-selling Bitcoin book:
https://www.amazon.com/gp/product/B08RX8Q4ZQ/
Join the Trader University email list:
https://www.trader.university/email-list
In this video, I discuss whether Bitcoin (and Bitcoin mining in particular) wastes energy.
I make the argument that all advanced civilizations use a lot of energy, whether for transportation, heating/cooling, communication (i.e. internet), etc. I'm against the "electricity police" telling us what is a good use of energy and what is a bad use of energy, since these preferences will vary wildly from person to person.
Bitcoin mining uses energy to secure the network, and provide a neutral reserve asset for the whole world. Bitcoin enables individuals to send value to each other across the world in a permission-less manner, and to store that value in a way that cannot be confiscated or debased.
The main class of people who seem to find this objectionable are the central bankers, politicians, and other rent-seeking groups that rely on central bank money printers for their wealth.
The current financial system uses a lot of electricity (skyscrapers filled with bankers on computers) and is ultimately secured by the US military's "proof of war," which is extremely energy-intensive and probably not very good for the environment.
Bitcoin offers us a way out of this mess. The ultimate goal for humanity should be using more energy and not less. Every source of energy comes with trade-offs, that need to be evaluated rationally. Ultimately, Dyson spheres could be used to provide virtually unlimited energy for humanity.
In the real world, there are always trade-offs. In my opinion, Bitcoin achieves the right balance between these different trade-offs. It's important not to approach the questions surrounding energy or money in a cartoonish or childish way. The real world is a complicated place, and many lives and livelihoods are dependent on us making the right decisions.
Not investment advice! Consult a financial advisor.
Christine Lagarde says that people commit crimes with Bitcoin:
https://www.reuters.com/article/us-crypto-currency-ecb/ecbs-lagarde-calls-for-regulating-bitcoins-funny-business-idUSKBN29I1B1
Christine Lagarde convicted:
https://www.bbc.com/news/world-europe-38369822
Image of lithium mine:
https://kboo.fm/sites/default/files/images/lead/station_content/lithium_mine.jpg
Wind turbines and dead birds:
https://windmillskill.com/blog/windfarms-kill-10-20-times-more-previously-thought
Dyson sphere:
https://en.wikipedia.org/wiki/Dyson_sphere
Check out my online trading courses:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99
Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#BitcoinMining
#Energy
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
-
9:40
Bitcoin University
6 months agoAmazing News For Bitcoin Mining (Ocean)
1.07K12 -
LIVE
The Big Mig™
1 day agoPablo Escobar Jr. Interview
332 watching -
29:46
Mikhaila Peterson
1 day agoQ and A: This Should Alienate Everyone Watching | EP 202
27.8K50 -
1:03:16
Kimberly Guilfoyle
8 hours agoSlow Joe Hits a New Low, Plus New Case of Illegal Immigrant Crime, Live with Karoline Leavitt & Sen Tommy Tuberville | Ep. 134
28.3K31 -
1:21:17
Redacted News
5 hours ago🚨 BREAKING! BIDEN REPLACEMENT ANNOUNCEMENT COMING, White House in PANIC mode | Redacted News
121K265 -
53:44
The Osbournes
5 days ago $1.31 earned50 Cent vs. Trump, 7M Dance Cult Drama, and Sharon's TikTok Spiral
37.9K48 -
1:59:37
Revenge of the Cis
5 hours agoEpisode 1359: Major Disappointment
34.8K10 -
1:01:57
In The Litter Box w/ Jewels & Catturd
22 hours agoBiden FREEZES! | In the Litter Box w/ Jewels & Catturd - Ep. 588 - 6/17/2024
78.2K51 -
7:45
Ignace Aleya
3 days agoI Turned My Car Into A Transformer (challenging Hollywood)
38.7K7 -
1:27:35
Winston Marshall
2 days agoWho Are More Radical…Populists or The ELITE?! EU Election Breakdown | The Winston Marshall Show #019
51.7K39