In a recent interview with The New York Times, Microsoft founder and billionaire Bill Gates said,
“Bitcoin uses more electricity per transaction than any other method known to mankind.”
He further added,
“It’s not a great climate thing.”
While approximations differ, it is quite comprehensible that mining Bitcoin is exceedingly resource intensive and it generates as much carbon emissions globally as a whole developed nation.
Numerous, including Twitter founder Jack Dorsey, are now trying to track down greener options — as presently there really aren’t any.
However, that might change in the near future. For example, Ethereum, one of the biggest Bitcoin alternatives, is anticipating a switch to a more viable mining model.
Apropos the alternative, Gates mentioned,
“If it’s green electricity and it’s not crowding out other uses, eventually, you know, maybe that’s OK.”
It’s not unknown that Bitcoin is a bit of a resource intensive network. Some of the most prominent individuals on the planet have expressed their concerns regarding the same. It’s a discordant subject, with one side praising its decentralized nature, while others disregard it as an environmentally unfriendly option to long-established currencies.
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