Elon Musk he went personally to try to make the mining di Bitcoin. It was he who stated what happened in a message published on Twitter on Monday. In which he claimed to have promoted the Bitcoin Mining Council, an agreement between North American miners aimed at favoring and accelerating similar initiatives in every part of the globe. The meeting where the topic was discussed was hosted by Michael Saylor, CEO of Microstrategy, who in turn decided to notify everything on Twitter. He added that Argo executives took part in the meeting Blockchain, Blockcap, Riot Blockchain, Galaxy Digital, Marathon, Core Scientific, Hive Blockchain and Hut 8 Mining.
Bessemer Trust rejects Bitcoin from an environmental point of view
The birth of the Bitcoin Mining Council takes place at a very special time. In which Bitcoin is in practice under accusation for its harmfulness of an environmental nature. In this regard, it is enough to remember how on the occasion of Earth Day, the past 22 April, the asset management company Bessemer Trust rejected Bitcoin in a study aimed at analyzing its ecological impact. From which it turned out specifically that the cryptographic icon would be considerably less efficient in this particular respect towards Ethereum. The judgment was expressed in a study entitled "Quarterly Investment Perspective".
The Quarterly Investment Perspective Report
In the study developed by its analysts Bessemer Trust, Bitcoin is examined from three points of view: as a store of value, as a mode of transaction and as an account register. In particular, if it is approached as a mode of transaction, the token invented by Satoshi Nakamoto continues to reveal a significant inefficiency in the use of energy. Adding like other cryptocurrencies, starting with Ethereum, they show greater efficiency in this regard.
Based on available data, starting with those provided by Digiconomist, a website expressly dedicated to the topic of unwanted consequences related to the use of technology, BTC would consume about 103 terawatt hours (TWh) of energy over the course of the year. A more contained figure than that provided by theUniversity of Cambridge, which estimates it at 113 TWh. Also according to Digiconomist, Ethereum's energy consumption would stand at 38 TWh over the twelve months. However, it should be emphasized that this data is also in constant increase. At the beginning of the year it was still at 14 TWh.
The environmental theme continues to characterize the discussion on Bitcoin
As can be seen, Bessemer Trust's concerns about BTC's ecological impact are quite pronounced. Sharing much of those repeatedly expressed over the past few months. Starting from those of Chinese government, which would see its objectives of limiting harmful emissions jeopardized first and their gradual disappearance then if mining within the country fails to find a way to exploit renewable energy sources instead of the coal that characterizes it currently.
This is a topic of considerable importance which has also recently been stirred up by Janet Yellen, the Biden Administration Secretary of Finance, upon his inauguration. The fear of many is that it is precisely the part of the policy that is decidedly opposed to digital assets that may eventually take such concerns as a pretext to ban Bitcoin. A hypothesis at the moment distant, but which certainly cannot be completely excluded.