15 Apr '13, 10am

Mining bitcoins takes power, but it isn't an 'environmental disaster'

Mining bitcoins takes power, but it isn't an 'environmental disaster'

against the "environmental disaster" claim. Writing in Forbes , Tim Worstall says the energy being used is "simply trivial," amounting to 0.025 percent of the total US household electricity supply. And worldwide, that percentage would be far lower. Besides, Worstall says, "at some point Bitcoin mining will stop. There is an upper limit to the number that can ever be mined; I think I'm right in saying that we're about halfway there at present. Thus this energy consumption will not go on rising forever. At some point it will come to a dead stop in fact." (The system is self-limiting, with a max of 21 million bitcoins.)

Full article: http://www.wired.co.uk/news/archive/2013-04/15/bitcoin-en...

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