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Bitcoin surges toward $50,000 amid China s latest crypto crackdown — RT Business News

The world’s top cryptocurrency, bitcoin, continued to rally on Tuesday, pushing above $49,000 during early trading. The rally comes as the Chinese government plans to ban crypto mining in the country.

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Electricity needed to mine bitcoin is more than used by entire countries

Last modified on Sat 27 Feb 2021 03.03 EST It’s not just the value of bitcoin that has soared in the last year – so has the huge amount of energy it consumes. The cryptocurrency’s value has dipped recently after passing a high of $50,000 but the energy used to create it has continued to soar during its epic rise, climbing to the equivalent to the annual carbon footprint of Argentina, according to Cambridge Bitcoin Electricity Consumption Index, a tool from researchers at Cambridge University that measures the currency’s energy use. Recent interest from major Wall Street institutions like JPMorgan and Goldman Sachs probably culminated in the currency’s rise in value and an endorsement by Tesla’s Elon Musk helped drive its recent high as investors bet the cryptocurrency will become more widely embraced in the near future.

United statesUnited kingdomVitalik buterinBenjamin jonesCamilo moraCambridge universityUniversity of hawaiiUniversity of new mexicoCambridge centre for alternativeGoldman sachsOak ridge instituteCambridge bitcoin electricity consumption indexWall streetElon muskNew mexicoCambridge bitcoin electricity consumption

Le bitcoin et d autres cryptomonnaies basés sur l algorithme Proof of Work sont un cauchemar suivant les critères environnementaux, sociaux et de gouvernance, selon Timothy Swanson

Le bitcoin et d autres cryptomonnaies basés sur l algorithme Proof of Work sont un cauchemar suivant les critères environnementaux, sociaux et de gouvernance, selon Timothy Swanson
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Bitcoin Is Red Hot Can It Ever Be Green? - The Washington Post

Can you love Bitcoin and the environment at the same time? The digital currency depends on so-called miners whose high-powered computers run day and night, soaking up electricity to perform the calculations used to verify transactions. Since almost two-thirds of mining takes place in China, where coal is the biggest source of electricity, that means more emissions. Supporters argue that Bitcoin’s carbon output is a drop in the global bucket, and that a switch to pollution-free power sources is a

New yorkUnited statesNew zealandUnited kingdomMorgan stanleyCambridge centre for alternativeBloomberg televisionCambridge centreAlternative financeCambridge bitcoin electricity consumptionCoin metricsபுதியது யார்க்ஒன்றுபட்டது மாநிலங்களில்புதியது ஜீலாந்துஒன்றுபட்டது கிஂக்டம்மோர்கன் ஸ்டான்லி