Does Bitcoin Waste Energy?

Get the "Ultimate Guide to Bitcoin" course:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.

Get my best-selling Bitcoin book:
https://www.amazon.com/gp/product/B08RX8Q4ZQ/

Join the Trader University email list:
https://www.trader.university/email-list

In this video, I discuss whether Bitcoin (and Bitcoin mining in particular) wastes energy.

I make the argument that all advanced civilizations use a lot of energy, whether for transportation, heating/cooling, communication (i.e. internet), etc. I'm against the "electricity police" telling us what is a good use of energy and what is a bad use of energy, since these preferences will vary wildly from person to person.

Bitcoin mining uses energy to secure the network, and provide a neutral reserve asset for the whole world. Bitcoin enables individuals to send value to each other across the world in a permission-less manner, and to store that value in a way that cannot be confiscated or debased.

The main class of people who seem to find this objectionable are the central bankers, politicians, and other rent-seeking groups that rely on central bank money printers for their wealth.

The current financial system uses a lot of electricity (skyscrapers filled with bankers on computers) and is ultimately secured by the US military's "proof of war," which is extremely energy-intensive and probably not very good for the environment.

Bitcoin offers us a way out of this mess. The ultimate goal for humanity should be using more energy and not less. Every source of energy comes with trade-offs, that need to be evaluated rationally. Ultimately, Dyson spheres could be used to provide virtually unlimited energy for humanity.

In the real world, there are always trade-offs. In my opinion, Bitcoin achieves the right balance between these different trade-offs. It's important not to approach the questions surrounding energy or money in a cartoonish or childish way. The real world is a complicated place, and many lives and livelihoods are dependent on us making the right decisions.

Not investment advice! Consult a financial advisor.

Christine Lagarde says that people commit crimes with Bitcoin:
https://www.reuters.com/article/us-crypto-currency-ecb/ecbs-lagarde-calls-for-regulating-bitcoins-funny-business-idUSKBN29I1B1

Christine Lagarde convicted:
https://www.bbc.com/news/world-europe-38369822

Image of lithium mine:
https://kboo.fm/sites/default/files/images/lead/station_content/lithium_mine.jpg

Wind turbines and dead birds:
https://windmillskill.com/blog/windfarms-kill-10-20-times-more-previously-thought

Dyson sphere:
https://en.wikipedia.org/wiki/Dyson_sphere

Check out my online trading courses:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99

Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#BitcoinMining
#Energy

Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.