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Bitcoin’s Green Potential: Energy Consumption Does Not Equal Carbon Emissions

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Bitcoin’s Green Potential: Energy Consumption Does Not Equal Carbon Emissions



Bitcoin mining has long been singled out for its contribution to rising global carbon emissions. Fortunately for the pioneering cryptocurrency, many of these critiques are based on faulty assumptions and predictions divorced from an understanding of the built-in energy-seeking incentives native to Bitcoin, and underplaying the positive impact it has now and may have in the future for billions of global citizens. While it is true that the global Bitcoin network does consume a meaningful amount of energy, that consumption must be put into context and weighed against its benefits if we are to have a consequential debate. We don’t often hear criticism of Netflix or Google’s data and energy consumption costs, so why Bitcoin?



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