Help me understand bitcoin

[Qwark]

jason1637 said:

SvennoJ said:

This is a fallacy in thinking imo. That clean energy could be better used for more essential things. Hoarding clean energy to 'justify' doing useless complex math problems isn't helping the environment. Nor will it solve the scalability problem.
https://hackernoon.com/the-blockchain-scalability-problem-the-race-for-visa-like-transaction-speed-5cce48f9d44

I mean clean energy will need to become universal to stop the climate crisis. At a certain point were gonna be using clean energy for gaming. As for the scalability issue I'm not really aware of that so I can't really speak on it.

I wouldn't be that sure about it. Bitcoin mining will go to wherever energy is cheaper and when there is a much bigger supply than demand for coal, cryptomining might very well go to the place where coal is burned. Also only a fracture if the energy on this earth is generated sustainably, so before clean energy is globally available and there is a surpluss enough of it to power half of Europe (cryptomining will only get more energy intensive and the demand for electricity for bitcoin is already bigger then the electricity demand of NL). I seriously doubt we live to see that day.