Energy cost of 'mining' bitcoin more than twice that of copper or gold: New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

Using a lot of electricity to mine/extract fossil fuels or run the banks that finance pipelines are top environmental problems. Any competition to these banks/gov money is an incredibly efficient solution to the problem (and that’s just one side effect of people controlling their own money where their earnings aren’t devalued over time).

For example, it’s worth considering: How many oil wells would be economical if they had to get financing from individuals vs. the gov/banks? How would building out renewables (which the majority of the public supports/wants as it’s less costly financially & environmentally) continue to be delayed without banks/gov money supply/allotment?

Subsidized electricity props up corporations like amazon. Individual’s paid energy use shouldn’t be critiqued by what it’s used on—but if it’s going to be, things like netflix/video streaming, online games & banking would top the list of cost-inefficient, wasteful use.

/r/science Thread Parent Link - theguardian.com