Pretty sure I reported this already, but it’s still newsworthy. Bitcoin can push global warming above 2 C in a couple decades
The team found that if Bitcoin is incorporated, even at the slowest rate at which other technologies have been incorporated, its cumulative emissions will be enough to warm the planet above 2°C in just 22 years. If incorporated at the average rate of other technologies, it is closer to 16 years.
“Currently, the emissions from transportation, housing and food are considered the main contributors to ongoing climate change. This research illustrates that Bitcoin should be added to this list,” said Katie Taladay, a UH Manoa master’s student and coauthor of the paper.
“We cannot predict the future of Bitcoin, but if implemented at a rate even close to the slowest pace at which other technologies have been incorporated, it will spell very bad news for climate change and the people and species impacted by it,” said Camilo Mora, associate professor of Geography in the College of Social Sciences at UH Manoa and lead author of the study.
“With the ever-growing devastation created by hazardous climate conditions, humanity is coming to terms with the fact that climate change is as real and personal as it can be,” added Mora. “Clearly, any further development of cryptocurrencies should critically aim to reduce electricity demand, if the potentially devastating consequences of 2°C of global warming are to be avoided.”
There is a Bitcoin mining operation nearby (because we have cheap power). I suppose it must be successful, since they’re consuming megawatts of power every month. But I’ve never been a fan of Bitcoin for various reasons. The negative environmental contribution is just one of them.
Bitcoin is just one of more then a thousand cryptocurrencies being deployed. It’s unclear if they included any other cryptocurrencies in their projections.
Add this data point to the many the project catastrophe in the next few years. Pretty much whatever humans “do” – it’s going to make things worse. And that is because we continue to choose all of the wrong things, human activity that harms planetary ecosystems and contributes to the global energy imbalance. We could – if we actually wanted to and took all this bad news seriously (like we should) – stop doing these things, but we won’t.
Indifference, greed, ignorance, politics and religion continue to rule over reason and common sense. We all know it – but we won’t admit to it. We’re headed down the wrong path and have no serious intentions of changing anything.