Cryptocurrencies are famously bad for the environment… but is there a way we can do better?
A study titled “Revisiting Bitcoin’s Carbon Footprint” showed how Bitcoin could be responsible for 65.4 megatons of carbon emissions annually, which is about the same amount as the entire country of Greece.
China’s crackdown on Bitcoin mining hasn’t entirely made the dent in these numbers it was expected to, mainly since it was later found that mining in China never stopped. Simply put, no amount of restriction will make a difference. Bitcoin was created to resist regulation and censorship, so even if a country banned mining, it wouldn’t stop individuals from building mining rigs in their homes.
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High energy consumption
The high energy consumption of the mining process