Thread by @euronewsliving

Bitcoin’s environmental impact is well-documented, with its current carbon output roughly the equivalent of New Zealand’s.

But perhaps renewable energy is the future for cryptocurrencies 👇

A recent thread from @jackdanger highlighted that if Bitcoin’s price ever reaches $1m, its carbon output will be greater than the entirety of the US.

So finding a green solution is a must for the cryptocurrency.

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Currently only 40% of the total energy used by cryptocurrencies’ complex calculations comes from renewable sources.

So some groups are setting up mining operations in colder climates, where geothermal and hydroelectric power is abundant.

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But this is part of a wider issue with the internet and technology’s impact on the planet.

Data centres are what keep us all online, but they use billions of litres of water every year and have massive carbon emissions too.

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Some companies, like Facebook, are finding ways to channel excess heat from these data centres to warm our homes.

But the fact still remains that our internet activity is generating carbon in less obvious ways than our offline behaviour.

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Entirely new cryptocurrencies, which specialise in sustainability could also be the answer.

ECOCoin is one of those platforms, as it looks to reward users’ eco-conscious actions.

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Overall it looks like Bitcoin isn’t going anywhere, anytime soon (even if @elonmusk tweets about its value being too high again!).

So it’s going to need to start focusing on being greener if it’s going to survive.

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