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15 votes

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

tl;dr: The claim cannot possibly be true, unless "Elon Musk's recent large-scale transactions" refers to all bitcoin transactions over the last six months. "The amount saved..." A ...
  • 9,734
14 votes
Accepted

Is the cryptocurrency Bitcoin a pyramid scheme?

For a more credible source Kaushik Basu wrote in a 2014 World Bank working paper on Ponzi schemes: One of the most recent cases of bubbles occurred in the new ‘Bitcoin’ experiment. Bitcoin is a ...
  • 52.6k
10 votes
Accepted

Was the control over Bitcoin network ever largely centralized?

According to several articles (examples: Ars Technica, The Guardian, Bitpanda.com), in 2014 a single mining pool (GHash.io) came close or even exceeded 51% of total mining hashrate. Different sources ...
5 votes

Is the cryptocurrency Bitcoin a pyramid scheme?

Bitcoin is very apparently not a pyramid scheme. Bitcoin is a worldwide cryptocurrency and digital payment system[8]:3 called the first decentralized digital currency, as the system works without ...
  • 10.4k
4 votes

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

I'll note that the "Power consumption [MW]" section of the linked paper cites a bunch of other papers, some of which do provide the carbon footprint of individual bitcoin transactions. For ...
  • 149
2 votes

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

The transaction rate is a matter of public record, and can be seen here for instance. It varies, but seems to typically be in the range of 200k-300k transactions per day. (This is close to the ...
  • 2,568
1 vote

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

Yes. There are exactly two ways. Bitcoin, or more specifically the blockchain, needs constant auditing by powerful computers which have power as well as cooling needs. If the government controls ...
  • 189

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