Twitter'da Bitcoin Yanan Devasa Çernobil ile Karşılaştırıldı

As the price of bitcoin rises, electricity consumption increases. Online security requires the launch of new mining farms which consume a lot of electricity. On average, the entire BTC mining industry consumes as much energy as Austria needs.

Of course, the system will not work without mining. Many in the cryptocurrency space understand this. And yet, a whole thread of messages appeared on Twitter, in which Bitcoin is called "The huge smoldering Chernobyl." The news went viral and sparked a heated debate.

Last weekend, programmer Stephen Diehl posted a couple of posts on social media discussing the environmental costs of Bitcoin. It was Diehl who first said:

“Bitcoin is“ a huge smoldering Chernobyl nuclear power plant located in the heart of Silicon Valley. Many investors want you to be silent.”

Diehl also stated in his post that Bitcoin has no value and is used for money laundering and drug purchases. Therefore, mining is a waste of energy.

“Unlike other economic activities, Bitcoin does not generate income. This is a purely speculative activity. A pyramid that deceives stupid investors”.

The post received 8,000 likes and 4,500 shares and many of them seem to agree with it. However, there are also opposite opinions. For example, Kyle Thorpey used the same scheme to analyze the environmental costs of the US dollar.

Let’s discuss, he wrote, that while the government is promoting sustainable and green investment, the heart of Washington is dotted with dismal Chernobyl, and many investors would prefer that you remain silent.

In this direction, active steps are taken to improve the environmental friendliness of Bitcoin mining. Square, for example, announced in December that it would invest in mining for renewable energy.

The company plans to achieve zero carbon emissions in mining by 2030. Square launches "Bitcoin Clean Energy Investment" program. More than $10 million has been invested in this. Other companies are not lagging behind.