Responding to #Bitcoin Energy FUD (June/22)

Any environmentalist that says #Bitcoin energy use is a GLOBAL problem is lying, uninformed or intellectually confused

The Global Bitcoin Network uses just 16 basis points of the worlds energy 16/100 of 1%

An inconsequential amount
Knowing that #Bitcoin accounts for just 16 basis points energy, it is impossible to comprehend @wef and @Newsweek predictions in 2017 which stated...

The Bitcoin Network is "On Track to consume ALL of the World's Energy by 2020"

99.984% incorrect

The @wef and @Newsweek relied on data compiled from 2015 - 2017 that ignored chip efficiencies

The problem with that is

Today #Bitcoin is:

41,000 times more efficient than it was in 2009


400 times more efficient than it was when the first ASICs were introduced

In addition to the total energy used globally being inconsequential

Every year the world wastes 50,000 TWh of energy

The global energy wasted can power over 200 #Bitcoin Networks

Every year in the United States 6,800 TWh of energy is WASTED

The WASTED energy in the United States can power over 27 global Bitcoin Networks

In terms of The #Bitcoin Network's carbon footprint, the Global #Bitcoin Network emits just 6 basis points of the USA's carbon footprint

Globally the Carbon emitted by #Bitcoin is also inconsequential

So we know:

1. @wef and @Newsweek predictions are outrageously wrong

2. Both the global carbon footprint and energy footprint are inconsequential. If you shut the entire #Bitcoin Network off the were be no global effect

So the real issue must be what #Bitcoin provides

The #Bitcoin Network provides

Banking to 8 B ppl
Private Property to 8 B ppl
Eliminates Stakeholder power
Accounting technology becomes unalterable
Provides the first immutable on chain truth

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


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More from @DarinFeinstein

Jan 8
Responding to the Energy FUD

The #Bitcoin Network

In 2017 #Newsweek and the #WorldEconomicForum

Both Predicted that The #Bitcoin Network

Will consume


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

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?

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

Read 5 tweets
Dec 9, 2021
The #Bitcoin Network compared to VISA


The #Bitcoin Network FINAL SETTLES ~4-7 TPS (transactions per second)

Visa final settles ZERO TPS

The confusion...

Visa can APPROVE 1700 TPS
Approvals are not settled transactions
Visa's FINAL SETTLEMENT can take months

Months after each Bitcoin Network Block is audited, settled and written to an immutable blockchain

Visa still struggles to settle the transactions on their network. Those transactions were ONLY approved but not PAID and require teams of people to complete


1. Visa approves a transaction on a Friday
2. The $ gets deposited into the merchants account on Monday or Tuesday (5 Days)
3. The customer gets invoice/bill 30 days later (30 days)
4. Customer can contest charges for 60 days
5. If Customer contests charge (cont)

Read 5 tweets

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