Headshot of Giacomo Iotti, a B2C digital marketing manager who likes to write about digital news and trends.

Online marketing | Digital news & Trends

Is Bitcoin the future of money we want?

bitcoin
money
mining
Bitcoin requires more than twice the energy usage per year of Apple, Facebook, Google, Microsoft and Amazon combined.

"#Bitcoin requires vast amounts of #electricity to facilitate its transactions around the globe. More than twice the energy usage per year of Apple, Facebook, Google, Microsoft and Amazon combined. This demand has led cryptocurrency #mining companies to seek out the cheapest electricity possible, and it doesn't get much cheaper than #coal."

By design, Bitcoin mining requires more energy the more miners join the network, as every transaction needs to go through every "block" in the chain.

Since the war in Ukraine, the renewable energy research has been undermined by the short term needs of cheaper energy.

Bitcoin is definitely not helping.

Are we sure this is the “future of money” we want?

Read more here.

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