Bitcoin's absolute power consumption isn't at a critical level yet — Bitcoin consumes as much power globally as a single large power plant, and roughly 10% of the world's data centers.
However, I agree that its rapid and consistent growth rate is concerning and can't be ignored.
It's an area I'm really interested in and have been reading a lot about, because most of the news and "analysis" of the issue on both sides has been obnoxiously biased.
I tried to write a balanced summary article of the situation (below). Long-term, Bitcoin's electricity consumption could really go either way i.e. flatten or continue growing indefinitely. There are some causal factors like price that are out of our control, but there are others like the Lightning Network that are both feasible and in our control, and could significantly moderate Bitcoin's electricity consumption.
However, I agree that its rapid and consistent growth rate is concerning and can't be ignored.
It's an area I'm really interested in and have been reading a lot about, because most of the news and "analysis" of the issue on both sides has been obnoxiously biased.
I tried to write a balanced summary article of the situation (below). Long-term, Bitcoin's electricity consumption could really go either way i.e. flatten or continue growing indefinitely. There are some causal factors like price that are out of our control, but there are others like the Lightning Network that are both feasible and in our control, and could significantly moderate Bitcoin's electricity consumption.
https://medium.com/@petershin45/bitcoin-is-killing-the-plane...