Bitcoin Q&A: Energy Consumption
Channel: aantonop
Date: 2017-12-12

Is the "energy consumption" in mining a problem? Mining is a business of arbitrage for the cheapest sources of electricity. Proof-of-work mining is contributing to massive investment and subsidy in renewables / alternative energy and efficiency improvements in processing.  It is driving the decentralization of energy production. "Consumption" in Bitcoin is easy to criticize because it is obvious, whereas the hidden externalities of the traditional financial system are massive.

Chapters
0:00 What's the solution for energy consumption in mining?
0:32 Choosing your mining location
2:28 Decentralization of energy production
3:06 Bitcoin is easy to criticize for its energy consumption because it's obvious
4:00 The level of security we have for bitcoin today is a level of security that can handle global attacks
4:50 I don't think we can afford two proof-of-work systems on this planet

This is part of a talk which took place at the Bitcoin Open Blockchain (BOB) community event on October 29th 2017 at the mHUB innovation center in Chicago, Illinois: https://www.meetup.com/Bitcoin-Open-Blockchain-Community-Chicago/events/244248063/

RELATED:
Immutability and Proof-of-Work: The Planetary Scale Digital Monument - https://youtu.be/rsLrJp6cLf4
Proof-of-Work (PoW), Proof-of-Stake (PoS), Delegated Proof-of-Stake (DPoS) - https://youtu.be/3W_3AQrQEOM
What is mining? - https://youtu.be/t4p4iMqmxbQ
Solar energy and mining in space - https://youtu.be/cusakcpa8AM
What should not go on a blockchain? - https://youtu.be/shn9otsT-Pw
The 14nm limit, decentralization, and renewable-energy mining - https://youtu.be/gYwc_MCC4us
Why has mining centralised in China? - https://youtu.be/8iyOKlzEe-0
Bitmain and the ASICBoost allegations - https://youtu.be/t6jJDD2Aj8k

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

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MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs

THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ

Translations of THE INTERNET OF MONEY:
Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq
French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang

MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK

Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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