53: The Environmental Debate on Crypto

The environmental debate about Bitcoin and NFTs is red hot, and still warming up. In this episode, we break down the various arguments for and against the environmental impact of Proof of Work based blockchains like Bitcoin and Ethereum. The conversation contains more nuance than mainstream media will typically mention.

 

In order to break it all down, we state our biases in the argument, then proceed to talk about the ins and outs of Bitcoin Mining. lastly, we talk about how transactions (and NFTs) are not directly consuming electricity.

 

For more information the debate, check out Keegan's newsletter where he covers this topic from front to back - https://keeganfrancis.substack.com/p/the-environmental-debate-on-crypto

 

(00:00) - Introduction

(01:15) - Stating Biases

(04:40) - Discussing Mining and setting the foundation for the argument

(10:22) - Energy Use vs Productivity

(17:25) - More about Bitcoin Mining, and Mining Operations

(22:28) - How Bitcoin can further investments into Green Energy

(27:50) - Mining, and the Generation of Heat

(33:13) - Bitcoin is a more energy efficient monetary network than most

(39:31) - Making the argument against Bitcoin

(42:20) - There are more efficient blockchain networks out there

(45:56) - The energy cost per Bitcoin or NFT transaction

(50:33) - Closing Thoughts

 

Edited and Mixed by Kaushik Sethunath.

Visit the Go Full Crypto website at: https://www.gofullcrypto.com