This is a powerful statement. It puzzles me that many people don’t seem to care whether it’s true or not. (Spoiler: It’s not.)
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It‘s probably not true due the huge progress in the solar electricity production. I did find multiple sources where the energy consumed by crypto mining exceeded the consumption of Austria. So it is certainly a lot. Do the math yourself. We know crypto market capitalisation.
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I certainly don’t think Bitcoin energy consumption is not a problem. Doesn’t make this statement any more true.
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Who knows. I did my own math. We know the market capitalisation for BTC and Ether. We know how much MH/h a certain hardware with 200W can create. We know how many MH are necessary to claim a block on average. The numbers reported in the news didn‘t sound completely off.
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Replying to @struberg @djgummikuh
This is about this particular statement, not Bitcoin energy consumption in general. My guesstimate is that global solar power production is at least one, probably more two orders of magnitude higher than even a worst case estimate for Bitcoin.

Feb 24, 2019 · 9:10 AM UTC

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Replying to @stilkov @djgummikuh
If crypto currencies were a country then it would be on the 25th place - worldwide. This is more than countries like switzerland and austria consume as a whole. And those 2 countries have a very big production sector!
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