Questions tagged [bitcoin]

a form of cryptocurrency; a decentralized digital currency.

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10 votes
1 answer
769 views

Was the control over Bitcoin network ever largely centralized?

I'm watching a YouTube video with over a million views, where someone called munecat claims that the control of the Bitcoin network was largely held by several big players around 2014, with ...
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3 votes
2 answers
539 views

Does the average carbon footprint per bitcoin transaction range from 233.4 to 363.5 kg of CO2?

https://www.cell.com/joule/fulltext/S2542-4351(19)30087-X says, According to the Bitcoin Energy Consumption Index, Bitcoin’s energy use in 2018 translates to a carbon footprint of 19.0 to 29.6 ...
21 votes
1 answer
1k views

Did Elon Musk's bitcoin transactions release more carbon in a few days than the amount saved by all Teslas ever sold?

In The Guardian, on May 29, 2021, Adam Greenfield writes: Elon Musk’s recent large-scale transactions in proof-of-work-based Bitcoin released more carbon into the atmosphere in just a few days than ...
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11 votes
0 answers
540 views

Can Bitcoin's huge energy footprint be easily reduced? [closed]

In Uninhabitable Earth, David Wallace-Wells notes Bitcoin's huge energy footprint ("more electricity than is generated by all the world’s solar panels combined") and asserts that a simple change to ...
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1 vote
0 answers
216 views

Has illicit cryptocurrency mining surged 459 percent in 2018 compared to last year?

If you are unaware, a recent trend in cyber attacks involves hijacking your computer's processing power to "mine" cryptocurrency, which they sell for money. Some discovered attacks were large spread ...
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5 votes
1 answer
1k views

Can governments destroy the value of Bitcoin, if they wanted to?

Note that this is a question about Bitcoin that is separate from my other question, which had asked whether Bitcoin is a pyramid scheme. Jamie Dimon, the CEO of JP Morgan, claims that the governments ...
5 votes
0 answers
655 views

Does the Bitcoin network consume as much energy as Denmark?

According to Ars Technica: One estimate suggests the Bitcoin network consumes as much energy as Denmark. There are other sources that make similar claims: Greentech Media claim: The Bitcoin ...
65 votes
0 answers
8k views

Does one transaction on Bitcoin require 215 kWh? [closed]

This seems unbelievable: This averages out to a shocking 215 kilowatt-hours (KWh) [sic] of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per ...
2 votes
2 answers
872 views

Is the cryptocurrency Bitcoin a pyramid scheme? [closed]

Bitcoin has long received both praise and accusations of being a pyramid scheme. So, I was wondering whether it is a pyramid scheme or not. Googling for answers led me to the Quora post Why is Bitcoin ...
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