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Strategies & Market Trends : Blockchain and Cryptocurrencies

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From: longz	11/21/2024 9:10:15 AM
	1 Recommendation Read Replies (1) of 7600

Bitcoin uses less energy than Christmas lights: Bitcoin The Bitcoin network uses less than half the energy of the gold industry and traditional financial system. In 2024, Bitcoin uses an estimated 141–160 terawatt-hours (TWhs) of electricity annually, which is about 0.6–0.7% of the world's electricity consumption. Christmas lights A 2008 paper estimated that U.S. holiday lights use 6.63 terawatt hours of electricity per year. Bitcoin mining is the process of creating bitcoins and finalizing transactions. It's energy-consuming and results in carbon emissions. However, Bitcoin uses renewable energy sources like hydropower, solar, wind, and geothermal. Bitcoin has been criticized for its energy consumption. Some opponents argue that Bitcoin uses as much energy as all of Denmark. However, others say that Bitcoin mining uses 0.4% of the total energy wasted in the world.

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