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Bitcoin spends as much on electricity as Americans spend on Halloween costumes.

Bitcoin spends as much on electricity as Americans spend on Halloween costumes.



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  1. tldr; Bitcoin spends about $10 billion on electricity annually. This is less than the world spends on toothpaste ($30 billion), much less than US spends on cigarettes ($80 billion), and considerably less than what the US Federal government spends in one day ($18.65 billion). Bitcoin also compares reasonably to US bank spending on cybersecurity.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. These are some of the best and most relevant links of serious scientific/research info and studies debunking the Bitcoin energy usage FUD:

    > **> [Lightning is 3.7 million times more efficient than Visa](https://lb256.medium.com/lightning-is-3-7-million-times-more-efficient-than-visa-87065d13eea9)**

    It’s working perfectly in many countries like El Salvador and large social networks like Twitter.

    [2nd layer, Lightning Network confirms transaction in less than 2 seconds and cost $0.01. More secure than Visa. More private than Visa. More inclusive than Visa. More energy efficient than Visa. More transaction capacity than Visa.]( https://zenimal.xyz/use-case)

    Also, the current financial system uses exponentially many more times power than Bitcoin. Here’s the info and research supporting the argument that Bitcoin is actually good for the environment and incentivizing the use of clean, renewable and stranded/wasted energy:

    **Bitcoin is actually good for the environment**:

    Watch [this new video explaining it](https://www.youtube.com/watch?v=Mvchzpbv2hE).

    > >
    > > https://www.cnbc.com/video/2021/05/13/elon-musk-bitcoin-reversal-climate-change.html
    > >
    > > https://www.youtube.com/watch?v=TeVvtSCfcQ4
    > >
    > > https://www.youtube.com/watch?v=eTqKLJ_o9yQ
    > >
    > > https://www.youtube.com/watch?v=Z3wFYxNItKQ
    > >
    > > https://finance.yahoo.com/news/study-over-74-bitcoin-mining-180300738.html
    > >
    > > https://moneyweek.com/investments/alternative-finance/bitcoin/602678/bitcoin-energy-consumption
    > >
    > > Most recent info, studies and reports:
    > >
    > > https://hbr.org/2021/05/how-much-energy-does-bitcoin-actually-consume
    > >
    > > https://uk.sports.yahoo.com/news/bitcoin-mining-actually-uses-less-210837605.html
    > >
    > > https://medium.datadriveninvestor.com/lightning-is-3-7-million-times-more-efficient-than-visa-87065d13eea9

    > > https://old.reddit.com/r/Bitcoin/comments/qwo92n/bitcoin_mining_fud_debunked_by_nic_carter/
    > > > >
    > > https://cryptopotato.com/banks-pollute-way-more-than-bitcoin-study-finds/
    > >
    > > https://www.dailystockmarketnews.in/2021/05/study-shows-banks-cause-more-pollution.html?m=1
    > >
    > > https://old.reddit.com/r/Bitcoin/comments/nl0gky/bitcoin_miners_are_escaping_china_and_it_might_be/
    > >
    > > https://endthefud.org/
    > >
    > > https://www.youtube.com/watch?v=cvfb-rBBsSg
    > >
    > > https://fee.org/articles/bitcoin-uses-half-the-energy-of-the-banking-system-new-paper/
    > >
    > > https://www.youtube.com/watch?v=6NbBknQJgNI
    > >
    > > https://bitcoinmagazine.com/culture/bitcoin-vs-world-military-emissions
    > >
    > > https://www.inbitcoinwetrust.net/bitcoin-and-the-renewable-energy-debate-in-mining-the-great-hypocrisy-5b07cf6f7ba3
    > >
    > > https://www.youtube.com/watch?v=Mvchzpbv2hE
    > >
    > > https://www.theguardian.com/environment/2021/mar/24/big-banks-trillion-dollar-finance-for-fossil-fuels-shocking-says-report

    > > https://old.reddit.com/r/Bitcoin/comments/pzogwd/carbon_emissions_from_electricity_consumed_in/

    > > https://www.nasdaq.com/articles/how-large-scale-bitcoin-mining-is-driving-clean-energy-innovation-2021-11-20?amp

    > > https://www.jbs.cam.ac.uk/faculty-research/centres/alternative-finance/publications/2nd-global-cryptoasset-benchmark-study/

    > > [Bitcoin is Key to an Abundant, Clean Energy Future (WHITE PAPER)](https://assets.ctfassets.net/2d5q1td6cyxq/5mRjc9X5LTXFFihIlTt7QK/e7bcba47217b60423a01a357e036105e/BCEI_White_Paper.pdf)
    > > https://marginalrevolution.com/marginalrevolution/2021/11/bitcoin-and-electricity.html

    > > https://www.msn.com/en-us/money/markets/bitcoin-miners-say-they-re-helping-to-fix-the-broken-texas-electric-grid-and-ted-cruz-agrees/ar-AARt1ax?ocid=msedgntp

  3. I don’t think the worry is the money spent on electricity, it’s the pollution caused by the fossil fuels used to create electricity.

    But at the end of the day, the amount of pollutants we’re putting into this world is going to be huge with or without bitcoin.

  4. That’s a “Whataboutism” and shit argument.

    Bitcoin spends as much electricity yearly as a different ecological disaster? OK

    You’re also ignoring that bitcoin’s “spending” is less clean than other spending. What’s the carbon footprint of those halloween costumes? Every dollar isn’t equal regarding pollution/waste.

    The federal gov’s spending could be going to help the needy (haha)

What do you think?

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