Anyone who knows about bitcoin knows the amount of energy it needs to keep functioning, yes it is huge, but apparently, some people think that bitcoin and blockchains with dry up the earth with their energy consumption needs.
Bitcoiners will usually say that this is just fake news, it is just FUD, meaning Fear, Uncertainty, and Doubt, and this is used by old marketers to confuse competitors and inverstors. It is just a strategy to keep them from buying you product. Bitcoin is using too much energy is just FUD.
It is worth stating. If the U.S. and Europe are going to dump the internal combustion engine it will need 50% more electricity infrastructure and will have to install it in 20 years.
They’d better get cracking and we’d better get buying those stocks.
Meanwhile, expect lots of FUD around anything that draws electricity and threatens to drive electricity prices high. It is coming and lots of the darlings of silicon who claim environmental credibility while sucking power out of the system with a mighty force will feel the pinch as their energy hungry ways catch up with them.
Bitcoin mining, data mining, it’s all the same.