Bitcoin wastes Energy!

Video Transcript

apparently Bitcoin wastes energy and I’m here to tell you no it doesn’t Bitcoin doesn’t waste energy it recycles energy and the reason for this is very similar to any system with a commodity that is eventually perishable electricity has to be consumed then and there or stored in a battery and that means that the grid has to oversupply how much power is produced so that we as the consumers can switch on our light and TV and Kettle and anything when we want how we want now the thing is when it comes to other systems such as food the shops have to overs Supply in food so that we always have an available fresh INE amount of food to be able to purchase but what do they do with their excess food they throw it out it’s a waste or they recycle it in a sense what Bitcoin mining does is a similar thing for energy it turns $1 of electricity into $2 of Bitcoin that’s adding economic value not wasting