Bitcoin: More Electricity Consumption Than the Entire Planet?

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By Chris Skinner via Iris.xyz

I am tempted to predict the price of bitcoin for the end of 2018 but know I’d be wrong, so I’m not. It could be $1 or $1 million. I’m not going to forecast it, as there are over 1,000 digital currencies out there and who knows which will be the winner long-term.

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However, one controversy reared its ugly head just before Christmas and my mate Brett King knocked this one on the head. The controversy related to all the stories about bitcoin mining and how much electricity it used.

Why Bitcoin won’t result in the complete collapse of society, but might result in an energy revolution

If you believe the hype, not only are bitcoin miners using more electricity than a number of small countries, but within just two years, Bitcoin is expected to take the world’s entire energy supply to continue its mining activities.

Click here to read the full story on Iris.xyz.

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