Crypto currency

A Comparison Of Bitcoin’s Environmental Impact With That Of Gold And Banking

The following is a republishing of Hass McCook’s “Comparing Bitcoin’s Environmental Impact…,” which was first published here.

NOTE: The methodology and underlying figures (specifically, emission rates for gold and banking) mentioned throughout are generally derived from my 2014 and 2018 works. The 2018 work is available as an easier-to-digest 10-part medium series here.

Bitcoin’s energy consumption and environmental impact are commented on very regularly, but ultimately, they are rarely understood. The majority of arguments stem from comparisons of Bitcoin’s electricity use to that of particular countries, or some other apples-to-oranges comparison. Critics can’t even separate “energy use” from “electricity use.”

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