In addition to causing criticism of price volatility, use in illegal transactions and exchanges, Bitcoin has also sparked controversy over the huge amount of electricity it consumes.
A new electronic tool released by the University of Cambridge, which is invoked by the Forbes website, appreciates the energy consumption of the cryptocurrency network and compares it to other entities.
He found that Bitcoin annually uses approximately 61.76 terabat hours (TWh) of electricity-more than many countries and about 0.28% of total global electricity consumption.
In comparison,
- Czech Republic uses around 62.34 TWh annually,
- Switzerland consumes 58.46 TWh,
- Greece 56.89,
- Israel 55 and
- Ireland 25.68.
If Bitcoin were a country, it would be the 41 most energy demanding on the planet.
The massive energy requirements of the cryptocurrency come from the computational power required for its "extraction".
By comparison, the annual energy consumption of Bitcoin amounts to 1/70 of annual energy production from water (4,164 TWh), with 1/10 from bio-fuels and waste (557 TWh) and with 1/24 from the sun, Wind, etc. (1,405 TWh).
Taking these into consideration, It is advised to all bitcoin users out there to take their privacy seriously when browsing online. The Green-Fascist Movement might come after BTC users for using it and mining it. The best way to do is by using a VPN service. It is further advice to Buy VPN With Bitcoin for maximum security.