this post was submitted on 27 Jul 2025
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Then they will ask why nobody wants to use their payment cards (infosec.pub)
submitted 6 days ago by oplkill@lemmy.world to c/memes@lemmy.world
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[–] qaz@lemmy.world 18 points 6 days ago* (last edited 6 days ago) (32 children)

Yes, but that still means that the other half is fossil fuel.

Bitcoin mining's distribution makes it difficult for researchers to identify the location of miners and electricity use. It is therefore difficult to translate energy consumption into carbon emissions. As of 2025, a non-peer-reviewed study by the Cambridge Centre for Alternative Finance (CCAF) estimated that bitcoin consumed 138 TWh (500 PJ) annually, representing 0.5% of the world's electricity consumption and resulting in annual greenhouse gas emissions of 39.8 Mt CO2, representing 0.08% of global emissions and comparable to Slovakia's emissions.

I think people should really reconsider using PoW cryptocurrencies. Ethereum was able to reduce their energy consumption by 99.95% by switching to PoS and it's still doing fine. IMO Bitcoin is outdated technology that is just used as a pyramid scheme due to its name recognition.

[–] O_i@lemmy.world -5 points 6 days ago (31 children)

Compared to our current system though? How much does the entire banking and credit card industry contribute to emissions for almost the same service? Bitcoin incentivises energy companies to mine BTC with excess energy.

[–] rayquetzalcoatl@lemmy.world 2 points 6 days ago (2 children)

I think what I'd suggest is that the entire global banking and credit card industry is likely to contribute more in total to our climate catastrophe, just due to the difference in scale between that and a relatively small and lesser-used alternative like Bitcoin.

[–] O_i@lemmy.world 2 points 6 days ago (1 children)

I do see where you’re coming from for sure. I just think it’s worth noting where it is and where it’s going given it’s managed to grow to 52% in an anti bitcoin world. If bitcoin allows to be “legitimatised” I think those goals are achievable

[–] Auli@lemmy.ca 1 points 5 days ago

Bitcoin well never be legitimized it is to volatile.

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