Energy FUD: narrative war
100 sats \ 4 comments \ @notgeld 5 Aug 2022 bitcoin
Famous nocoiner writes
The Bitcoin Mining Council claims that bitcoin uses 0.16% of all the electricity in the world. The BMC also claims that 58.4% of bitcoin mining energy use is from sustainable sources, based on claims by its members. [BMC, PDF]
Neither of these numbers is true — and BMC doesn’t show its working. Sources that do show their working — and don’t have a financial interest in fudging their numbers — put the sustainable energy percentage at 25.1%, and the percentage of the world’s electricity consumption over 0.5%. [Joule, paywalled; Digiconomist]
She refers to Digiconomist. Very interesting question how to handle such FUD because it is keeping appearing although in nocoiner media.
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5 sats \ 0 replies \ @BTCMiner 5 Aug 2022
Created a separate post, as a Link post with the archive of the article, but forwarded tips to you.
Bitcoin mining in the crypto crash — the mining companies’ creative accounting #54798 https://amycastor.com/2022/08/04/bitcoin-mining-in-the-crypto-crash-the-mining-companies-creative-accounting/ https://archive.ph/UIcdo
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0 sats \ 0 replies \ @nkmg1c_ventures 5 Aug 2022
I notice there's a huge push against nuclear energy in general. I think energy scarcity is part of the plan.
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0 sats \ 1 reply \ @BTCMiner 5 Aug 2022
It doesn't help that the footnote references in the BMC report has links that were made ALL CAPS, and thus invalid. But I found a year-end 2021 report which is close. The authors of this article made a rookie mistake, so I responded:
The BMC claim is 0.16% "of the world's energy production". As in all energy -- including hydrocarbons and nuclear. Your article makes a false claim there.
A 2021 BP report shows global energy consumption is 595 EJ, which is 165,278 TWh. BMC says mining is 247 TWh. That's ~0.15%.
https://twitter.com/BTCMiner/status/1555453030392291328 https://nitter.it/BTCMiner/status/1555453030392291328
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5 sats \ 0 replies \ @BTCMiner 5 Aug 2022
Actually it is a 2022 report, so I deleted the Tweet and did another with correct year.
https://twitter.com/BTCMiner/status/1555456783401062401 https://nitter.com/BTCMiner/status/1555456783401062401
The 2022 report from the BP website is:
https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2022-full-report.pdf
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