Bitcoin Is A Green Energy Battery For Wasted Electricity Today

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This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.

In a prior article I discussed probability-based energy systems, how they can negatively impact the grid and how Bitcoin helps solve some of the problems associated with wind and solar power.

In this article, I would like to address the most frustrating critique that I hear all the time: Bitcoin is a waste of energy.

What Else Are You Going To Do With It?

The fact is Bitcoin doesn’t use that much energy. The big brains at Harvard estimate that the Bitcoin network only consumes about 0.55% of global electricity production. Comparatively, it is estimated that 6-10% of electricity production is lost in transmission and distribution alone.

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