Does Bitcoin Mining Waste Energy?

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In this video, I discuss whether Bitcoin mining wastes energy.

I conclude that Bitcoin mining does not waste energy, for two primary reasons:

1) Bitcoin mining rigs are incredibly energy efficient, and continue to get more energy efficient over time;

2) Bitcoin mining is a worthy use of energy, because Bitcoin provides a unique form of neutral and ethical money that cannot be captured, controlled, debased, or censored.

Appointing an "energy czar" to tell everyone what is and is not a good use of energy is a slippery slope, and probably not very market efficient.

Bitcoin is money that:

1) Cannot be debased.
2) Cannot be censored.

I think that's at least as good a use of energy as Christmas lights

Not investment advice! Consult a financial advisor.

SHA-256 hash calculator:
https://xorbin.com/tools/sha256-hash-calculator

J/Th efficiency over time for Bitcoin mining rigs:
https://bitcoinminingcouncil.com/wp-content/uploads/2023/01/BMC-Q4-2022-Presentation.pdf

Private jet emissions quadrupled during Davos 2022:
https://www.theguardian.com/environment/2023/jan/13/private-jet-emissions-quadrupled-davos-2022

Bitcoin Mining Uses Less Energy Than Christmas Lights:
https://mawsoninc.com/bitcoin-mining-uses-less-energy-than-christmas-lights/

Declining purchasing power of USD over time:
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-U.S.-Dollar.jpg

Nigerian Army Killed Unarmed Protesters:
https://www.nytimes.com/2021/11/16/world/africa/nigeria-protest-report-massacare.html

Nigeria's central bank freezes accounts of police brutality protesters:
https://www.reuters.com/article/nigeria-protests-banking/nigerias-central-bank-freezes-accounts-of-police-brutality-protesters-idUSL4N2HT06D

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

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