Bitcoin mining

Bitcoin mining consumes a lot of electricity.

China decided to ban the mining activities to reduce the energy consumption.

The mining activities has now moved to other countries, primarily America.

The proponents argued that it is possible to use renewable energy for bitcoin mining, so that it does not add to the burning of fossil fuels, which is bad for the environment.

I find this reasoning to be fallacious, even dishonest.

If there is a surplus of renewable energy, it could be fed into the electricity grid to reduce the demand on fossil fuels.

Currently, renewable energy represents only 26% of the total demand for energy.  Link.

It is illogical to suggest that the use of renewable energy for bitcoin mining is not harmful to the environment.

I cannot understand this reasoning. I think it is a dishonest statement.


Tan Kin Lian 





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