Thread by @DarinFeinstein

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
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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

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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

and

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

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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

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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

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

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Globally the Carbon emitted by #Bitcoin is also inconsequential

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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

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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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