This Week
House committee will take a look at the energy impact blockchain
"The University of Cambridge’s Bitcoin Electricity Consumption Index estimates that the Bitcoin network currently uses around 15.7 gigawatts"
"And a reminder that this is just bitcoin (BTC). There's several thousand other cryptocurrencies with their own varied energy needs."
"Part of the hearing seems likely to focus on the environmental impact of running all of these miners."
“According to research on PoW cryptocurrencies’ carbon footprint in 2020, a single transaction added more than 90 pounds of CO2 to the atmosphere, while a single BTC transaction added more than 1,000 pounds of CO2 to the atmosphere. Based on estimates of 2021 emissions, ETH mining emitted more than 22 million tons of CO2 and BTC mining emitted more than 56.8 million tons of CO2. To put this in perspective, the global 2021 CO2 emissions of ETH and BTC mining is equivalent to the tailpipe emissions from more than 15.5 million gasoline powered cars on the road every year.
Credit: Coindesk
BTC Shows weakness on the Weekly Chart, Higher High on the Chart—Lower Highs on the RSI—a clear divergence
do the bulls have enough power to push bitcoin up? Or is bitcoin going up in small steps until it is overbought on the Daily RSI to make another swing down.
Not a Trading or Financial Advise
House committee will take a look at the energy impact blockchain
"The University of Cambridge’s Bitcoin Electricity Consumption Index estimates that the Bitcoin network currently uses around 15.7 gigawatts"
"And a reminder that this is just bitcoin (BTC). There's several thousand other cryptocurrencies with their own varied energy needs."
"Part of the hearing seems likely to focus on the environmental impact of running all of these miners."
“According to research on PoW cryptocurrencies’ carbon footprint in 2020, a single transaction added more than 90 pounds of CO2 to the atmosphere, while a single BTC transaction added more than 1,000 pounds of CO2 to the atmosphere. Based on estimates of 2021 emissions, ETH mining emitted more than 22 million tons of CO2 and BTC mining emitted more than 56.8 million tons of CO2. To put this in perspective, the global 2021 CO2 emissions of ETH and BTC mining is equivalent to the tailpipe emissions from more than 15.5 million gasoline powered cars on the road every year.
Credit: Coindesk
BTC Shows weakness on the Weekly Chart, Higher High on the Chart—Lower Highs on the RSI—a clear divergence
do the bulls have enough power to push bitcoin up? Or is bitcoin going up in small steps until it is overbought on the Daily RSI to make another swing down.
Not a Trading or Financial Advise
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