The electricity used to mine bitcoin this year is bigger than the annual usage of 159 countries

This is such a ridiculous new attack on Bitcoin. "Oh, it uses power! Lets convince people Bitcoin is ruining the environment!"

How much energy do you think incumbent financial service businesses use heating and lighting their buildings? That is pretty much the exact same comparison. Bitcoin doesn't have offices, what they have is miners. If you compare all the computers, furnaces, AC units, TVs, etc running in VISA or MasterCard's offices to the energy consumption of miners, I would be amazed if Bitcoin came even close.

This is just the latest gimmick someone though up to turn people off Bitcoin, and it is clearly working as people who feel the missed the boat are looking for any reason to validate their decision. I can't wait to see what the new attacks are once it doubles or triples in value again.

/r/worldnews Thread Link - businessinsider.com