Bitcoin Is Not Harmful For The Environment

April 12, 2021
bitcoin, environment, pow, proof-of-work

This article by Peter St. Onge was first published on Mises Institute website. Contribute. One popular critique of bitcoin is energy cost per transaction. This doesn’t begin to capture bitcoin’s massive energy savings compared to fiat currency. Bitcoin’s cost per transaction is well known, and often critiqued; one article in Wired magazine called bitcoin “[a] big middle finger to earth’s climate.” This is because bitcoin’s security, redundancy, and architecture are more energy intensive than traditional payments relying on a single point of failure. ...