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NEFERIOUS BITCOIN

A growing discourse about “anonymity” on the blockchain is recurring in public debates about bitcoin, despite being totally subjective and distorted. Speaking about the narrative of a globally owned cryptocurrency, Elon Musk said, "Cryptocurrency is a good idea... But it can't come at a great cost to the environment." The narrative force often goes against the truth. Money is always exchanged for working hours and products, so understanding that money is accepted according to an amount of energy consumed is no different than bitcoin. According to Cambridge University research, mining represents a consumption of approximately 127 billion kWh, more than the total energy consumed by the whole of Ukraine annually.

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The highest-consuming kWh countries, all the countries in the graph asides from Ukraine, represents about 0.67% of worldwide mining. There is no doubt that industrial sectors consume even more. The question is: is the problem really due to energy consumption or the lack of freedom from intermediation and bank custodians?