LYN ALDEN, August 2021, updated December 2021 – Bitcoin’s energy usage is a rounding error as far as global energy usage is concerned. And I mean that literally; when scientists estimate that the world uses a certain amount of energy in a given year, they can easily be off by a couple percentage points in either direction, let alone a couple tenths of a percent. Bitcoin is estimated to use less than one tenth of one percent.
From Michael Saylor’s Academy, learn at your own pace and earn credits with College/University Partners.
The Cambridge Bitcoin Electricity Consumption Index (CBECI) provides an up-to-date estimate of the Bitcoin network’s daily electricity load. The underlying techno-economic model is based on a bottom-up approach initially developed by Marc Bevand in 2017 that uses the profitability threshold of different types of mining equipment as the starting point.
June 2022 Bitcoin is down almost 70% from its all time high so maybe it’s a good time to zoom out …
This is why Satoshi chose to build a system with an unchanging soul. This is why the rules have been “set in stone” since day one. (Post with Frederich Hayek’s famous 1984 video).
Visualize Bitcoin blocks being build in real time. Kind of hard to describe how amazing and beautiful this project is. You have to see for yourself!
Two of my favorite Bitcoin people: Gigi and Preston Pysh. From Preston’s Bitcoin Fundamentals podcast, get a flavor of how these two minds work.
I find everything that comes from Gigi absolutely great and Peter McCormack is a laid back interviewer, so you might like to check this out at Pete’s What Bitcoin Did show.
Don’t sell your Bitcoin