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Yes, Bitcoin is Consuming A load of Power. Own It.
A message to Bitcoiners, on why you should not only be honest about, but proud of the massive power consumption of Bitcoin.
The problem with trying to argue down the power consumption of Bitcoin, compared with other things, is that sooner or later it has to dwarf all other things.
Just look at the algorithm to dispel any doubts. The amount of power needed to mint the final coins is huge, by anyone’s definition.
It might still be arguable now that the world banking system, or some other industry consumes more power than Bitcoin. But as time goes on, and Bitcoin becomes ever bigger, the power consumption of it keeps racing up, the argument will get more and more impossible.
Already it is soaking up more GPU technology than the global gaming industry, and most of the Bitcoin mining industry is operating under the radar of most governments. So logically, actual Bitcoin power consumption is vastly underestimated.
No-one really knows the full extent of it.
As time goes on, the truth will come out more and more, that it has an increasingly greedy appetite for power, probably the biggest we will ever know.
