Bitcoin mining has been criticized by mainstream media, environmentalists and some economists for its energy consumption deemed excessive. Yes, the proof of work system burns a lot of electricity but does the planet suffer from deficit? Here’s a look at an interesting aspect of nuclear power generation – it turns out the wasted capacity of just several reactors is enough to satisfy the needs of the whole network. Besides, when fully loaded they are actually more efficient and safer.
Also read: Mainstream Media Claims Bitcoin Burns More Energy Than Ireland – Does It?
Energy – Bitcoin Needs It, the Atom Has It
Using oversimplified explanations is never a good approach to understanding complex matters. That’s almost inevitably true when modern, high tech is involved, regardless of the field. Unfortunately, that same failed strategy is often employed by opponents of important achievements of humanity. Two such inventions are the nuclear technology that harnesses the atom and the cryptocurrency protocol that unleashes financial freedom. They have more things in common than just being criticized and can actually complement each other in order to better respond to critics.
To avoid oversimplification, let’s just focus in this article on one aspect that concerns both cryptocurrency mining and power generation – energy – Bitcoin needs it, the atom has it. You’ll often hear from clicks and views chasing media and overly worried eco-activists and economists that bitcoin burns more of it than a whole country. And while that accusation is far from the truth, as we’ve explained before, you’ll be surprised to hear something you are not being told – it’s way better to burn excess energy than waste it. Bitcoin mining could do exactly that. As the saying goes, when there’s a will, there’s a way.
