About this episode

Proof-of-work secures the Bitcoin network, but its security requires massive energy expenditure. Alex deVries explains how much energy is used and e-waste generated  for every transaction. Alex is the founder of Digiconomist, which created the first Bitcoin Energy Consumption Index.

Alex's Links

Digiconomist

Alex's Twitter

FULL PODCAST TRANSCRIPTION

Where to find the show

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What to listen for

• 
  
• What the environmental costs for Bitcoin are.
  
• Why Alex create Digiconomist and the Bitcoin Energy Index.
  
• Why Bitcoin mining machines cannot be recycled or repurposed.
  
• What is the relationship between Bitcoin energy consumption and price.
  
• Why ASIC production is Bitcoin's hashrate limiter.
  
• How much energy Bitcoin mining would consume at 1 million per coin.
  
• How much energy is consumed with every Bitcoin transaction.
  
• Why Bitcoin mining does not use green energy and how seasonality affects pricing.
  
• Why Alex thinks 7% of all Iranian energy is devoted to Bitcoin mining.
  

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