About this episode
Proof-of-work secures the Bitcoin network, but its security requires massive energy expenditure. Alex deVries explains how much energy is used and e-waste generated for every transaction. Alex is the founder of Digiconomist, which created the first Bitcoin Energy Consumption Index.
Where to find the show
What to listen for
- What the environmental costs for Bitcoin are.
- Why Alex create Digiconomist and the Bitcoin Energy Index.
- Why Bitcoin mining machines cannot be recycled or repurposed.
- What is the relationship between Bitcoin energy consumption and price.
- Why ASIC production is Bitcoin's hashrate limiter.
- How much energy Bitcoin mining would consume at 1 million per coin.
- How much energy is consumed with every Bitcoin transaction.
- Why Bitcoin mining does not use green energy and how seasonality affects pricing.
- Why Alex thinks 7% of all Iranian energy is devoted to Bitcoin mining.
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