The Bitcoin Electricity Consumption Index with Michel Rauchs – WBD126

This article was originally posted on The LTB Network - a publishing platform created for content providers to present the ideas and people involved with cryptocurrency — through podcasts, articles, and discussion forums.

Interview Location: Skype

Interview Date: Monday 8th July, 2019

Company: University of Cambridge Judge Business School

Role: Cryptocurrency & Blockchain Lead

Whenever you hear about Bitcoin in the mainstream media, undoubtedly one of the things that comes up time and time again is the power consumption needed to secure the network and which is the latest country Bitcoin has overtaken on power usage. Is this something Bitcoiners should be worried about and can the criticism be written off as a way for Bitcoin naysayers to ignore it for a little longer?

Michel Rauchs recently released The Bitcoin Electricity Consumption Index to address this issue and try and put Bitcoin’s power consumption into perspective. We discussed:

  • Whether Bitcoin needs to be inefficient to work?
  • If holding Bitcoin is using Bitcoin
  • What is Bitcoin’s carbon footprint and is it a concern
  • How much of the power used to mine Bitcoin is renewable?
  • If Bitcoin were to reach $1,000,000 would mining use all the available power on earth?

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