Michel Rauchs on The Bitcoin Electricity Consumption Index - WBD126
Whenever you hear about Bitcoin in the mainstream media, undoubtedly one of the things that comes up time and time again is the power consumption needed to secure the network and which is the latest country Bitcoin has overtaken on power usage. Is this something Bitcoiners should be worried about and can the criticism be written off\xa0 as a way for Bitcoin naysayers to ignore it for a little longer?\xa0
Michel Rauchs recently released The Bitcoin Electricity Consumption Index to address this issue and try and put Bitcoin\u2019s power consumption into perspective. We discussed:
- Whether Bitcoin needs to be inefficient to work?
- If holding Bitcoin is using Bitcoin\xa0
- What is Bitcoin\u2019s carbon footprint and is it a concern
- How much of the power used to mine Bitcoin is renewable?
- If Bitcoin were to reach $1,000,000 would mining use all the available power on earth?