Freedom from governments controlling your money goes back centuries. With bitcoin you finally have that. Ryan Pulock the save heard round the Island shirt too much to ask to not want your savings fucked with. Inequality is directly impacted by government spendingThis energy concern is a bit over blown if you ask me. First, eventually all bitcoin will have been mined so the issue of energy for mining will no long be an issue and we will only be discussing transactions. Second, we may not even be discussing transactions with bitcoin in the future because most people see bitcoin as a storage of value. The transaction speed is insanely slow with bitcoin but its very secure so people use it to store and grow their money. Three, you cant just say “bitcoin uses a lot of energy” and thats the end of it, context is important. Relative to the entire centralized banking system that is in place, bitcoin is much better. Take any bank brand in the world, bitcoin has more value than any of the worlds banks. Even more than some of them combined with its market cap being over $1 trillion. All those banks have multiple branch locations, atms, headquarters, and people that commute to their work everyday. All of those things come at the cost of environmental impacts and they have been impacting the environment and will continue to way into the future.
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What I like is Ryan Pulock the save heard round the Island shirt world banks are pushing strongly for this sort of research, yet if you remove banks completely imagine how much electricity and man power and computing power would be saved? Not as much as Bitcoin. But it it is even 30% of Bitcoin then decentralizes currently can be worth it? Hit that like button and let me know in the comments down below.What they’re ignoring is the percentage of bitcoin miners which are using renewable energy: roughly 74%.Bitcoin mining is expensive. As a result, bitcoin mining operations gravitate to locations where energy is cheap. Iceland, with its abundant geothermal energy, was a hotspot for many years. Unwanted land close to nuclear power stations, especially in France, found use.Half of global mining now takes place in one region of China – Sichuan. Why? Hydroelectricity. During the rainy season, its electricity prices are as low as anywhere in the world. Roughly 5% of Sichuan bitcoin mining power comes from nuclear or burning coal. 95% is from renewables.Research by Coinshares concludes that the Bitcoin network obtains 74% of its electricity from renewable sources. “Many renewable energy generators are poorly located and underutilised, and thus, Bitcoin mining has become the only viable use for this electricity,” says strategist Tatiana Revoredo.The other thing I want to point out is that the Banking system has more impacts than just it’s energy consumption. They employ lobbyists, heavily influence monetary policy, and ensure the worlds worst criminals, polluters and scoffloaws have liquidity.The financial crisis of 2008 in the US, the RBS debacle in the UK around the same time, etc.
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