This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.I have covered and dispelled the myths about Bitcoin mining endlessly in both the newsletter and on the blog. Bitcoin uses a significant amount of energy, but its waste is declining and other sectors are far more harmful. The trend in mining is clearly towards renewables and using more wasted energy that would otherwise go untouched.The good Bitcoin provides far outweighs the bad.This time, the FUD concerns Bitcoin and its resulting e-waste. E-waste is an umbrella term used to describe how electronics can damage the environment in a number of ways. There are a number of ways e-waste can occur through the Bitcoin network/mining process with the most obvious being improperly disposing of old mining rigs.This study calculated the total amount of e-waste from Bitcoin and divided that by the number of transactions on the network to illustrate how harmful each transaction is to the environment. The research found that “a single transaction generates 272 grams of e-waste, the same amount of electronic waste as throwing two iPhone 12 minis in the bin. Bitcoin’s annual e-waste generation adds up to 30.7 metric kilotons as of May 2021. This number is comparable to the amount of small IT and telecommunication equipment waste produced by a country like the Netherlands.”No waste is good, but the circulation of this FUD feels identical to the FUD that went around earlier this year describing how “Bitcoin mining consumes more energy than Argentina.” It’s almost word for word the same, except this time it’s “e-waste” instead of “electricity” and “Netherlands” instead of “Argentina.”If we want to fix our financial system, it is going to come at a cost. Gold mining, legacy banking, militaries, and other systems are causing more damage to the environment than Bitcoin, yet everyone is focused o n disparaging the new disruptive asset. As far as I am concerned, of all the sectors that are hurting our planet, Bitcoin is bringing the most good to the most people. IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:New Bitcoin Mining FUDBitcoin Thoughts And AnalysisAltcoinsResearch The Applications You UseThe Ethereum Burn LeaderboardsEl Salvador Buys The DipAT&T Being Sued Over Sim SwapMy Recommended Platforms And Tools
The Wolf Den #332 - New Mining FUD
The Wolf Den #332 - New Mining FUD
The Wolf Den #332 - New Mining FUD
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.I have covered and dispelled the myths about Bitcoin mining endlessly in both the newsletter and on the blog. Bitcoin uses a significant amount of energy, but its waste is declining and other sectors are far more harmful. The trend in mining is clearly towards renewables and using more wasted energy that would otherwise go untouched.The good Bitcoin provides far outweighs the bad.This time, the FUD concerns Bitcoin and its resulting e-waste. E-waste is an umbrella term used to describe how electronics can damage the environment in a number of ways. There are a number of ways e-waste can occur through the Bitcoin network/mining process with the most obvious being improperly disposing of old mining rigs.This study calculated the total amount of e-waste from Bitcoin and divided that by the number of transactions on the network to illustrate how harmful each transaction is to the environment. The research found that “a single transaction generates 272 grams of e-waste, the same amount of electronic waste as throwing two iPhone 12 minis in the bin. Bitcoin’s annual e-waste generation adds up to 30.7 metric kilotons as of May 2021. This number is comparable to the amount of small IT and telecommunication equipment waste produced by a country like the Netherlands.”No waste is good, but the circulation of this FUD feels identical to the FUD that went around earlier this year describing how “Bitcoin mining consumes more energy than Argentina.” It’s almost word for word the same, except this time it’s “e-waste” instead of “electricity” and “Netherlands” instead of “Argentina.”If we want to fix our financial system, it is going to come at a cost. Gold mining, legacy banking, militaries, and other systems are causing more damage to the environment than Bitcoin, yet everyone is focused o n disparaging the new disruptive asset. As far as I am concerned, of all the sectors that are hurting our planet, Bitcoin is bringing the most good to the most people. IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COIn This Issue:New Bitcoin Mining FUDBitcoin Thoughts And AnalysisAltcoinsResearch The Applications You UseThe Ethereum Burn LeaderboardsEl Salvador Buys The DipAT&T Being Sued Over Sim SwapMy Recommended Platforms And Tools