Skip to content

Tengruipharm

Just another WordPress site

  • npressfetimg-13149.png
    What is the post-FTX future of cryptocurrency? – Al Jazeera English Cryptocurrency
  • npressfetimg-35206.png
    Briefing: Instagram Introduces New Screen Time Management Tool – The Information Time management
  • npressfetimg-17801.png
    So you decided to stop drinking? I did – and these are my year’s lessons – The Guardian Stop drinking
  • npressfetimg-22959.png
    Daniela Bell’s Personal Style Is Casual Cool – D Magazine Personal style
  • npressfetimg-1797.png
    Phil’s formula tattoo is still a talking point – The Guardian Tattoos
  • npressfetimg-35404.png
    Interactive Content: 10 Types To Engage Your Audience – Search Engine Journal Content marketing
  • npressfetimg-16962.png
    Daniela Bell’s Personal Style Is Casual Cool – D Magazine Personal style
  • npressfetimg-9102.png
    These Are the Best Drugstore Foundations for Mature Skin – Who What Wear Makeup
npressfetimg-640.png

Environmentalists sound alarm at US politicians’ embrace of cryptocurrency – The Guardian

Posted on December 13, 2021 By Cryptocurrency No Comments on Environmentalists sound alarm at US politicians’ embrace of cryptocurrency – The Guardian

The incoming mayor of New York City thinks cryptocurrency and blockchain technology are the future. Eric Adams has advocated to reshape the city into a crypto hotspot, with crypto being taught in schools. He also plans to take his first three paychecks in bitcoin payment.

Adams said in an interview that bitcoin was the “new way of paying for goods and services throughout the entire globe” and that schools “must” teach the technology behind it, as well as “this new way of thinking”.

He’s not alone in America. The mayor of Miami announced in February that the city plans to accept tax payments in bitcoin and let employees draw their salary in the cryptocurrency. Crypto conferences like Bitcoin 2021 – billed as the biggest bitcoin event in history – have chosen Miami as their host city because the area has rolled out the red carpet for this industry.

But not everyone is onboard with the crypto giddiness being expressed by America’s political class. Mining cryptocurrency is notoriously environmentally unfriendly, and in an era of rapid climate crisis, increasing the use of the technology could be hazardous.

According to Digiconomist, a single bitcoin transaction uses the same amount of power that the average American household consumes in a month – which equals roughly a million times more in carbon emissions than a single credit card transaction. And globally, the carbon footprint of bitcoin mining is greater than that of the United Arab Emirates and falls just below the Netherlands’.

People should be concerned about the environmental and climate impacts of “proof-of-work” cryptocurrency mining such as bitcoin, said Benjamin A Jones, an economist at the University of New Mexico.

The mayor-elect of New York City, Eric Adams, is an enthusiastic supporter of cryptocurrency. Photograph: Timothy A Clary/AFP/Getty Images

Such currencies require miners to compete to validate transactions on their blockchains, and that takes enormous, power-hungry servers. Bitcoin mining uses energy predominantly generated from fossil fuels, which creates air pollution and carbon emissions, said Jones.

“These pollution emissions are harmful to human health outcomes and the carbon emissions lead to climate damages,” he added.

Jones recently co-authored a paper that estimated that in 2018 each $1 of bitcoin value created was associated with $0.49 in health and climate damages in the US – meaning that the negative human health costs and climate impacts of bitcoin mining in the US were roughly half as large as the per-coin value.

“This is a tremendous negative externality of bitcoin mining that is imposing significant societal costs on all of …….

Source: https://www.theguardian.com/technology/2021/nov/18/cryptocurrency-bitcoin-environmentalist-alarm-us-politicians

Cryptocurrency Tags:RSS Feeds

Post navigation

Previous Post: The Most Googled Cryptocurrency Questions – Lexology
Next Post: ADVISER INVESTMENTS CELEBRATES 100 EPISODES OF ‘THE ADVISER YOU CAN TALK TO PODCAST’ – The Bakersfield Californian

Related Posts

  • npressfetimg-43139.png
    Bitcoin world’s most hated cryptocurrency – Fox Business Cryptocurrency
  • npressfetimg-23366.png
    Among six proposals to regulate cryptocurrency, one is superior – The Hill Cryptocurrency
  • npressfetimg-14717.png
    FTX Says It Has Located More Than $5 Billion in Cash, Liquid Assets – The Wall Street Journal Cryptocurrency
  • U.S. banking regulators warn against cryptocurrency fraud, contagion risks – Yahoo Finance Cryptocurrency
  • npressfetimg-45349.png
    Most criminal cryptocurrency is funneled through just 5 exchanges – Ars Technica Cryptocurrency
  • npressfetimg-6784.png
    After a year of collapses, cryptocurrency’s future in the balance – Roll Call Cryptocurrency

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Archives

  • February 2023
  • January 2023
  • December 2022
  • January 2022
  • December 2021

Categories

  • Advertise online
  • Affiliate Marketing
  • Bad habits
  • Budget lifestyle
  • Celebrities
  • Content marketing
  • Cryptocurrency
  • E-commerce
  • Fashion clothing
  • Financial independence
  • Graphic design
  • Haircare
  • Healthy habits
  • Housing market
  • Investments
  • Makeup
  • Motivation
  • Nail stylist
  • Passive income
  • Personal finances
  • Personal style
  • Quit smoking
  • Retire
  • Self-development
  • Stock market
  • Stop drinking
  • Tattoos
  • Time management
  • Watches
  • Youtube Marketing

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Recent Posts

  • 4 side hustles for Gen Z that can bring in hundreds or even thousands of dollars a month – CNBC
  • Earn Passive Income With This Side Hustle That’s Perfect for Introverts – Yahoo Finance
  • Extreme Saving Method Speeds Up Early Retirement Option – AARP
  • Demystifying the Concept of Financial Independence Through Free Education – Daily Scanner
  • Americans prefer to cling to cash after shaken by stock market volatility – Yahoo Finance

Recent Comments

    • npressfetimg-3459.png
      Passive income is the future: HUH Token and EverGrow lead the way – Guardian Nigeria Passive income
    • npressfetimg-1322.png
      Dr. Colleen Hanlon Provides Tips on How to Quit Smoking in 2023 – DocWire News Quit smoking
    • Lori Harvey Loves Herself – Essence Nail stylist
    • npressfetimg-3572.png
      Extreme Saving Method Speeds Up Early Retirement Option – AARP Financial independence
    • npressfetimg-46300.png
      Goldman Sachs says 4 cities likely to see a 2008-style housing crash: report – The Hill Housing market
    • npressfetimg-460.png
      How Brands Can Use ChatGPT And Other Generative AI For Content Marketing – Forbes Content marketing
    • npressfetimg-7507.png
      Le Labo’s Iconic Scents Now Come In Haircare Form – Glam Haircare
    • npressfetimg-41205.png
      Haircare Brand Uncle Funky’s Daughter Announces Retail Expansion – Beauty Packaging Magazine Haircare

    Copyright © 2023 Tengruipharm.

    Powered by PressBook News WordPress theme