Energy cost of mining Bitcoin more than twice that of copper or gold

   2018-11-07 05:11

If you want to limit Bitcoin’s CO2 impact, you should do the same thing as for every energy using activity: ensure, through international agreement, that CO2 emission is taxed or capped in a way that reflects its future impact.

Like with every other good in existence, such a tax will affect the amount — and by which energy source — it is profitable to produce [1].



If there is a place where it is possible to avoid such an imposition, then production will leak to that location, just like for every other good in existence.

If you think that bitcoin is somehow “different” than all other trivial things that people spend energy to produce, because you think it’s stupid, you’re opening a can of worms I’m sure you don’t want to deal with (deciding how much people “really should like things” compared to their energy cost).

[1] Technically, it will affect the production of hash computations, not bitcoins themselves.


Original Source


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin5,485.6 0.03 % 1.09 % 13.52 %
XRP0.4753 1.23 % 1.51 % 5.23 %
Ethereum172.97 0.05 % 2.22 % 17.75 %
Bitcoin Cash385.39 0.32 % 4.13 % 28.98 %
Stellar0.2404 1.44 % 0.93 % 5.84 %
EOS4.499 0.07 % 1.02 % 16.01 %
Litecoin41.55 0.02 % 2.95 % 19.77 %
Tether0.9803 0.04 % 0.07 % 0.55 %
Cardano0.06012 0.54 % 2.52 % 19.11 %
Monero85.30 0.35 % 2.38 % 18.89 %
TRON0.01860 0.09 % 1.86 % 18.34 %
IOTA0.4102 0.05 % 0.65 % 14.63 %
Dash132.42 0.03 % 3.32 % 17.37 %
Binance Coin7.591 0.23 % 4.97 % 20.02 %
NEM0.09205 0.00 % 1.80 % 0.07 %
NEO12.37 0.08 % 2.17 % 22.57 %
Ethereum Classic7.373 0.02 % 2.02 % 21.53 %
Tezos1.081 0.18 % 3.07 % 16.19 %
Zcash105.63 0.25 % 2.33 % 20.89 %
Bitcoin Gold26.25 0.17 % 0.18 % 11.12 %