Bitcoin Is A Green Energy Battery – Bitcoin Magazine

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

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

In this article, I’d like to address the most frustrating criticism I hear all the time: Bitcoin is a waste of energy.

What else will you do with it?

The fact is that Bitcoin does not use that much energy. The big brains at Harvard estimate that the Bitcoin network only consumes about 0.55% of the world’s electricity production. In comparison, it is estimated that between 6 and 10% of electricity production is lost in transmission and distribution alone.

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