Friday, June 2, 2023

Why Bitcoin Mining Is Good For The Environment


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In this video, I discuss two ways in which Bitcoin miners can help to prevent the unnecessary venting or flaring of natural gas and landfill methane gas.

In these and many other ways, Bitcoin mining and the proof of work consensus mechanism serve other useful purposes besides securing value globally in a neutral and decentralized manner– beyond the control of central bankers and politicians.

Bitcoin miners often use stranded or otherwise unused energy. Bitcoin miners are incentivized to seek out the cheapest energy available, which many times ends up being renewable energy or energy that would otherwise be wasted.

No other industry is as portable or flexible as Bitcoin mining.

Those who decry its energy usage have no problems with energy being used to power clothes dryers, server farms, the US banking system, or global warfare.

Not investment advice! Consult a financial advisor.

Bitcoin energy usage predictions are always terrible:

Bitcoin energy usage:

Bitcoin consumes more electricity than Sweden and Ukraine:

US clothes dryers energy usage:

Associated petroleum gas:

Routine flaring:

Great American Mining:

Landfills and methane emissions:

Vespene Energy:

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  • WARNING: There are a number of scammers who are using my image and
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  • The first part says Bitcoin is bad for the environment but that’s okay because its not as bad as other things. Bitcoin could be less bad if its centralised more by using the lightning network. The financial market uses more. (Bitcoin could never replace the financial market its store of wealth at best) Bitcoin uses wasted energy like flare gas. Very little uses this as there is no incentive to use anything but the cheapest and most convenient. Bitcoin requires electricity and internet connection just like datacentres. Datacentres can be just as portable.

  • I am thankful to Maskoffweb for the hack transfers they did for me. They got me $4,000 in 2hours

  • I am thankful to Maskoffweb for the hack transfers they did for me. They got me $4,000 in 2hours

  • possibly the most based video you've put out

  • So Bitcoin would be an example of a one-way usage of energy then since it cannot be converted back into energy once it's been converted into Bitcoin. That seems like a waste, but then, I guess it wasn't going to be used for anything anyway. On the other hand, Ethereum is simply programmed to be more efficient by quantifying and charging people for the energy they use in units of Gas. So the two really would seem made for each other. I mean except that none of that should be the goal of the designer of a currency. That's why having some other kind of validation method may be better, like Proof of History for instance.

  • Very interesting, especially towards the end. Thanks as always!

  • Hey I have a question what if they make bitcoin illegal because of it’s heavy energy use and shut down all mining servers? I mean if they shut down it there’s no way Bitcoin can transact by it’s own.

  • For a useless enterprise to consume a whopping half a percent of the whole world electricity is preposterous. I say this even tho i keep some $1k in bitcoin

  • Well, the whole video begs the question, is global warming bad for human flourishing? See Alex Epstein's book Fossil Future on reframing the climate emergency argument.

  • Feel very much at home with your world view. In a way, we can expect our Globalist rulers to want to totally control us (enslave) but it's more disappointing that most people can't perceive anything outside of the matrix that has been constructed for them. It's only because of the Sheeple that our neo-Feudalist rulers can get away with it.

  • mc

    Thank you for the the references and putting this together. Very interesting and appreciate your dedication to this very much! I've referred many to your channel, and will continue to do so. Thanks Matt!

  • Did I understand you correctly in this video that you are not worried about Methan or greenhouse gases?

  • There is no such things as "green energy". If you consume energy in any ways you are polluting some how.
    Even wind power or solar power, which are categorized as the cleanest energy, pollutes as the production of those infrastructures (building it) produces a enourmous amount of pollution of any forms (manufacturing, transport, mining minerals). So NOTHING we do is good for the environnement, some thing are less damageable but to say that Bitcoin is good for the environement is very far fetched…. BTW I'm a bitcoin maxi as you are, just found that those arguments sounds like digged up reason to try to shut up environmentalists…

  • Matt I need to know what you think about hex and their deposit model

  • A.

    You have to look at cultures that never mined anything for pure creativity mixed with life bound optimism,
    Like the Native American Inuit nations.
    The aboriginal Australian culture.
    And the Vedic Indian culture
    These are the original blockchain cultures , building Bitcoin and Tesla and apple and gold on these cultures is just a sham.

  • The documentary 'This Machine Greens' covers the issue of Bitcoin and energy about as thoroughly as any source I've seen. Dunno if you've seen it.



  • Cooking ANYTHING in the oven AND NOT eating it……..that's a waste of energy!

  • Remember what the environment was before big-tech and big brother started using it against us, as part of their propaganda machine.

    When they’re done destroying our jobs, and done destroying our food supply, in the name of “climate/environment”, the masses will pray to return to the days when bitcoin energy consumption could be among our concerns.

  • Hi Matthew, can you please make a video about this particular drawback of bitcoin? It's much more difficult to transfer your bitcoin or the monetary value of your bitcoin holdings to your beneficiaries in case something happens to you, than with traditional custodial institutions.

  • I am a bitcoin maxi and I think being more honest and realistic about Bitcoin is the best way to help education and adoption. In your previous videos you said that you think the low is in (for stocks and bitcoin) I don’t think you are trying to lie or manipulate but let’s face it, this isn’t the probable outcome. DXY and inflation at all time high and Fed never been as hawkish in decades etc. for me the best case scenario for risks assets is another 50% drop from here. I would consider that a soft landing. Going below pre-pandemic levels is the more probable which means a hard landing. It’s good for crypto space too because more shitcoins will be flushed out.

  • I have been waiting for this video to drop! There is a 'gold mine' of content here on how the incentive structure of Bitcoin is great for the environment.

  • Could quantum computing destroy BTC’s crypto security?

  • The big question is how much electricity does the total electric car use? They are telling us to buy these cars at great expense to help the world environment. The grid doesn’t store energy it’s managed for the demand. Solar and wind has its benefits but is very limited and years off from being the grid.

  • Hey Matthew, I was wondering if there's a way to buy bitcoin as it's price is still going down. Is dollar cost averaging still a good idea?

  • Thank you Matthew. You give me very good ammo for argument’s against Bitcoin. I rarely comment to anyone on YouTube anymore because I know I’m just going to get trolled. But hopefully you will see my response to your video. You really do give thoughtful and factual information. I use it all the time. And sometimes I may get a convert.

  • Anyone going after Bitcoin for it's energy use is inviting in a bigger monster than they previse Bitcoin to be. Which is Government over reach into our personal lives to monitor our energy use and deem what is allowed and what is not. Very dangerous as anyone in power can use this against those they don't like.

  • Send to Elizabeth Warren please

  • Why Bitcoin Mining is good for the environment
    Why Cigarettes are good for your health
    Why Gasoline is great to put out fires
    Why Telephone is better than the internet
    Why low amounts of deadly nuclear radiation is good for you
    Why pickup trucks are energy efficient
    Why drinking cyanide can cure your headache

  • Thank you for the video.
    I had come to the conclusion that what was backing up a country’s currency was the hardness of its bombs and shields.
    You gave a name to this : “proof of war”. Merci !

  • Hi Matthew, I absolutely love your channel. Great work. I’m a fairly new pleb, running a node and coinkite CC. Question: what do you think is the best way to set up an organization (ie church) to accept bitcoin donations? I’d love to see a video on donating bitcoin someday. Cheers!

  • The "Bitcoin energy use compared to X country (you probably can't find on a map)" thing seems deliberately disingenuous to me. Back around 2014 major media switched from "BTC uses as much energy as US State #32" to "BTC uses as much energy as Uzbekistan" (or wherever) I think to make BTC seem alien and uniquely destructive. And to avoid pointing out single states in the US use more electricity than many small countries.

  • Im on board already. But ic Co2 is way less harmful than methane, why arent we burning it already?

  • Spot on vid, makes the robust case and importantly keeps the message simple with practical comparisons. To be a more advanced civilisation we need to solve the energy and environmental challenge & IMHO BTC provides the principles and means to secure energy security and reduce carbon impact as well as further > fossil fuel effectiveness & efficiency.

  • Your kids speak Mandarin? Wow, that's impressive. How old are they?

  • McDonald’s 1 shit-food corporation out of many uses 500,000 to 700,000 kilowatt hours per year. That’s one single McDonald’s out of 10s of 1,000s across the globe. Heart stopping, diabetes inducing, cancerous shit food kills 100s of 1,000s of people each year.

    Yet none of these goofballs criticizing BTC energy usage criticize the mainstream corporate food industry’s energy usage.


    These are definitely some “loose faith in humankind” moments we’re experiencing here.

  • You can power bitcoin miners will STRANDED ENERGY in used nuclear fuel rods, ocean, old tires, pig waste and even trash from a land fill… it literally is a way to monetize CLEAN UP.

  • They never complain about Gaming Console energy usage. Why don't we call Bitcoin Mining equipment… Bitcoin Gaming Consoles?

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