However, there is no doubt about this: the bitcoin enterprise emits about 23 megatons of carbon every year, the equivalent of 1.2 million transatlantic flights. Bitcoin, whether it's booming or busting, results in a massively irresponsible waste of energy that is helping to fuel climate change.
Some bitcoin miners counter that they use renewable energy. Sure, fine, but that renewable energy could flow elsewhere to businesses that actually employ people and make things if the ridiculously wasteful and absurd pursuit of bitcoin mining did not exist. Then there's the deeply philosophical argument that burning coal to produce bitcoin is no worse than burning coal to make toys for McDonald's Happy Meals. Maybe, maybe not -- hey, here's an idea. Let's ban both practices -- the manufacturer of bitcoin and crappy plastic lumps of Frozen moose.
So, let's recap. At a time in human history when we urgently need to come up with new, inventive ways to drastically reduce our global carbon footprint, the barons of cryptocurrency have devised a new and inventive way to raise our global carbon footprint. Yay bitcoin, buy it now!!