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Sustainable bitcoin investing

Hi everyone,

If you’re on the fence about bitcoin because of its environmental impact, Mogo just announced that they will be planting trees to offset the CO2 emitted from bitcoin mining.

One bitcoin emits [421,000 lbs](https://www.visualcapitalist.com/comparing-the-carbon-footprint-of-gold-and-bitcoin/) of CO2 and Mogo is promising to plant enough trees to offset 500,000 lbs. So that the bitcoin is actually climate positive and healthier for the planet!! Pretty wild.

We’re super excited about it! You can check out our [blog](https://blog.mogo.ca/our-bitcoin-its-green/#.YXiGz55KhQ0) and our [press release](https://www.businesswire.com/news/home/20211026005711/en/Mogo-Launches-World%E2%80%99s-First-Climate-Positive-Bitcoin) if you want to learn more and start investing sustainably.



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4 Comments

  1. Bitcoin’s energy usage is not a problem. You have been deceived.

    https://www.enerdynamics.com/Energy-Currents_Blog/How-Much-Primary-Energy-Is-Wasted-Before-Consumers-See-Value-from-Electricity.aspx

    > Ever wonder how much of the primary energy that goes into creating electricity actual provides useful work to us as consumers? Well the answer is not much – depending on the device using electricity it’s anywhere from 30% to as little as 5%. So, where does all that wasted energy go and what can we do about it? Or is it even worth trying? To address these questions, let’s look at where electricity is lost in the delivery chain.
    >
    > Losses in generation, transmission, and distribution First, let’s consider the primary energy that enters the electric delivery system at the input to the generator and examine how much of the primary energy is delivered to the customer. According to the Energy Information Administration (EIA), the answer is 34%. In other words, 66% of the primary energy used to create electricity is wasted by the time the electricity arrives at the customer meter.

    Other sources claim that 17% of all power generated is wasted in the generation and transmission (with or without Bitcoin). Bitcoin uses one twentieth of one percent of all power:: 0.05 percent vs 17.0 percent.

    Bitcoin’s energy usage is not a problem – there is a lot of deception being pushed.

    https://www.youtube.com/watch?v=Mvchzpbv2hE

    Meanwhile:

    https://www.youtube.com/watch?v=VfEnzaHAT-g

    https://youtu.be/hYSKkpH8t6E

    Learn the facts, or learn to enjoy being somebody else’s stooge.

  2. Using THIS as an argument towards bitcoin being positive for the environment is an extreme stretch, as there is no requirement for Bitcoin mining to necessitate the planting of trees. But it’s a good initiative nonetheless.

  3. Bitcoin transactions do not consume energy. No matter how many transactions are included in a block, the energy usage doesn’t change. The energy usage secures the network and has nothing to do with per transaction metrics.

What do you think?

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