Thread by @DarinFeinstein

Responding to the Energy FUD

The #Bitcoin Network

In 2017 #Newsweek and the #WorldEconomicForum

Both Predicted that The #Bitcoin Network

Will consume

"ALL OF THE WORLDS ENERGY BY 2020"

Today 2022 - 5 years later, how accurate are the predictions, what are the #'s

1/5

5 years after @Newsweek and @wef predicted #Bitcoin would use ALL the worlds energy by 2020

The #Bitcoin Network consumes ONLY

.0012 of the energy generated globally

This is not even close to ALL the worlds energy. How did they get it so wrong?

2/5

Here in the US we waste 6,800 TWH of energy annually creating and transmitting electricity

The global #Bitcoin Network uses only 188 TWH of energy

= The wasted energy in the US alone can power 36 Global #Bitcoin Networks.

The real #BTC energy footprint is negligible

3/5

So clearly the mainstream media has misrepresented the #Bitcoin energy footprint.

But why?

What is the motivation for legacy institutions to incorrectly report the energy footprint of The #Bitcoin Network ?

4/5

Answer

The Global #Bitcoin Network provides

Banking to 8 B ppl
Private Property to 8 B ppl
The first #decentralized #distributed settlement method
The first unalterable accounting technology

The people who were exploiting the last system are many and will NOT go quietly

5/5