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> No, this needs to have the plug pulled on it if we're to keep global warming to 2C. Bitcoin accounts for <0.1% of global CO2e and has one of the highest shares of renewables in any industry (since it competes globally for the cheapest energy). It incentivises renewables (by being a location agnostic buyer of first and last resort which buys all excess energy 24/7), reduces CO2e (by making it profitable to combust CH4 instead of venting it), stabilises energy grids (by providing flexible demand response, i.e. can be turned on and off at moment's notice), provides banking services for the global unbanked and financially discriminated, shields from gambling bankers and inflation of the money supply, ... In comparison to all these use cases and benefits, mere "luxury" energy uses such as air-conditioning, tumble drying, video games, porn, ... all consume more energy and produce more CO2e (e.g. A/C ~100x more). Yet nobody calls to have the plug pulled on them. Regulate the production of energy, not the consumption. |