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Bitcoin Mining Alone Could Raise Global Temperatures Above Critical Limit By 2033 (vice.com)

Posted by msmash on from the current-projections dept.

dmoberhaus writes: Researchers have found that if Bitcoin is adopted at rates similar to technologies like credit cards, its energy consumption could increase global temperatures by 2C in just 16 years. This is well beyond the limit of catastrophic climate change proposed by the UN. Motherboard spoke to an expert on Bitcoin and energy about the study's implications.

1 of 287 comments (clear)

  1. Seems to be a flaw with all proof of work systems by dasunt · · Score: 4, Interesting

    Off the top of my head, cryptocurrencies that require proof of work seem to all suffer from this flaw. Work is energy, energy has the side effect of global warming with our current grid. Any proof-of-work system that doesn't require a large amount of energy is going to result in a massive influx of new coins being mined, causing a large amount of inflation.

    A few possible solutions would be:

    • Use a cryptocurrency system that (a) doesn't require proof of work and (b) whatever it does require is not energy intensive.
    • Technological advancements make carbon-neutral cheaper than fossil fuels, to the point that burning coal for electricity makes no more sense than burning whale blubber for electricity.

    Any other thoughts?