Image default
Bitcoin

Bitcoin Is the ‘Cleanest Industrial Use of Electricity,’ Says BTC Firebrand Michael Saylor

Controversial Bitcoin firebrand Michael Saylor claims Bitcoin (BTC) is the “most efficient, cleanest industrial use of electricity.”

The MicroStrategy govt chairman says in a brand new blog that his agency’s metrics point out about 59.5% of vitality for Bitcoin mining comes from sustainable sources.

Saylor additionally notes that Bitcoin mining’s vitality effectivity improved by 46% year-on-year.

“No other industry comes close (consider planes, trains, automobiles, healthcare, banking, construction, precious metals, etc.). The Bitcoin network keeps getting more energy efficient because of the relentless improvement in the semiconductors (SHA-256 ASICs) that power the bitcoin mining centers, combined with the halving of Bitcoin mining rewards every four years that is built into the protocol. This results in a consistent 18-36% improvement year after year in energy efficiency.”

Saylor says $4-5 billion in electrical energy powers a Bitcoin community price $420 billion.

“The value of the output is 100x the cost of the energy input. This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook, and 1-2 orders of magnitude less energy intensive than traditional 20th-century industries like airlines, logistics, retail, hospitality, & agriculture.”

The MicroStrategy govt additionally takes intention at proof-of-stake networks.

“Regulators & legal experts have noted on many occasions that proof of stake (PoS) networks are likely securities, not commodities, and we can expect them to be treated as such over time. PoS Crypto Securities may be appropriate for certain applications, but they are not suitable to serve as global, open, fair money or a global open settlement network. Therefore, it makes no sense to compare proof of stake networks to Bitcoin.”

Last month, Saylor stepped down as MicroStrategy’s CEO, a transfer the govt says had nothing to do with the software program firm posting almost $1 billion in BTC losses throughout the second quarter of the yr.

In late August, Washington DC Attorney General Karl A. Racine announced that he’s suing the Bitcoin maximalist as a result of he’s lived in Washington, D.C. for over 10 years however has by no means paid any taxes.

Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are usually not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any loses it’s possible you’ll incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please word that The Daily Hodl participates in affiliate marketing online.

Featured Image: Shutterstock/marymyyr/Chuenmanuse

Related posts

Hackers Access Client Data on Bitcoin (BTC) Investing Platforms Following Third-Party Breach

Crypto Advisor

Bitcoin Whale Activity Wakes Up As BTC Hovers Just Above $20,000 Level: On-Chain Data

Crypto Advisor

Third-Largest US Oil Company Eyes Potential New Revenue Stream From Bitcoin (BTC) Economy: Report

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 20,128.39 3.05%
ethereum
Ethereum (ETH) $ 1,351.33 2.69%
tether
Tether (USDT) $ 1.00 0.27%
usd-coin
USD Coin (USDC) $ 1.00 0.16%
bnb
BNB (BNB) $ 296.24 3.40%
binance-usd
Binance USD (BUSD) $ 1.00 0.20%
cardano
Cardano (ADA) $ 0.434892 1.65%
xrp
XRP (XRP) $ 0.4811 5.45%
polkadot
Polkadot (DOT) $ 6.47 2.23%
solana
Solana (SOL) $ 34.00 3.44%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 3.34%
dogecoin
Dogecoin (DOGE) $ 0.064925 8.03%
staked-ether
Lido Staked Ether (STETH) $ 1,343.44 2.78%
matic-network
Polygon (MATIC) $ 0.835799 4.38%
tron
TRON (TRX) $ 0.062206 1.54%
dai
Dai (DAI) $ 1.00 0.20%
avalanche-2
Avalanche (AVAX) $ 17.36 2.39%
ethereum-classic
Ethereum Classic (ETC) $ 27.77 1.78%
leo-token
LEO Token (LEO) $ 4.18 0.79%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 20,128.39 3.28%
uniswap
Uniswap (UNI) $ 6.71 2.99%
litecoin
Litecoin (LTC) $ 54.85 2.29%
cosmos
Cosmos Hub (ATOM) $ 13.02 2.12%
okb
OKB (OKB) $ 15.66 2.09%
ftx-token
FTX (FTT) $ 24.99 1.49%
terra-luna
Terra Luna Classic (LUNC) $ 0.000312 2.43%
near
NEAR Protocol (NEAR) $ 3.61 2.08%
chainlink
Chainlink (LINK) $ 7.73 6.95%
crypto-com-chain
Cronos (CRO) $ 0.110989 1.90%
monero
Monero (XMR) $ 146.22 3.46%
stellar
Stellar (XLM) $ 0.120423 3.67%
bitcoin-cash
Bitcoin Cash (BCH) $ 121.87 5.44%
algorand
Algorand (ALGO) $ 0.357546 1.82%
flow
Flow (FLOW) $ 1.71 2.01%
vechain
VeChain (VET) $ 0.024026 3.01%
eos
EOS (EOS) $ 1.20 1.49%
internet-computer
Internet Computer (ICP) $ 6.11 1.39%
filecoin
Filecoin (FIL) $ 5.59 1.42%
chain-2
Chain (XCN) $ 0.073355 1.24%
frax
Frax (FRAX) $ 1.00 0.39%
hedera-hashgraph
Hedera (HBAR) $ 0.0585 1.46%
decentraland
Decentraland (MANA) $ 0.703006 1.81%
apecoin
ApeCoin (APE) $ 5.26 2.18%
the-sandbox
The Sandbox (SAND) $ 0.850929 2.78%
tezos
Tezos (XTZ) $ 1.46 1.65%
quant-network
Quant (QNT) $ 141.54 1.87%
axie-infinity
Axie Infinity (AXS) $ 12.93 2.96%
aave
Aave (AAVE) $ 78.67 4.62%
lido-dao
Lido DAO (LDO) $ 1.57 2.92%
elrond-erd-2
Elrond (EGLD) $ 56.10 10.34%
theta-token
Theta Network (THETA) $ 1.08 1.92%
true-usd
TrueUSD (TUSD) $ 1.00 0.16%
chiliz
Chiliz (CHZ) $ 0.218979 0.16%
bitcoin-sv
Bitcoin SV (BSV) $ 49.00 1.21%
compound-usd-coin
cUSDC (CUSDC) $ 0.022724 0.27%
paxos-standard
Pax Dollar (USDP) $ 1.00 0.14%
kucoin-shares
KuCoin (KCS) $ 9.19 0.35%
bittorrent
BitTorrent (BTT) $ 0.00000078747799 1.46%
ecash
eCash (XEC) $ 0.000042 3.77%
the-graph
The Graph (GRT) $ 0.100797 3.61%
iota
IOTA (MIOTA) $ 0.281209 1.66%
zcash
Zcash (ZEC) $ 56.75 2.02%
huobi-btc
Huobi BTC (HBTC) $ 20,069.38 2.59%
usdd
USDD (USDD) $ 0.999969 0.03%
huobi-token
Huobi (HT) $ 4.09 2.07%
evmos
Evmos (EVMOS) $ 1.43 6.86%
havven
Synthetix Network (SNX) $ 2.34 2.71%
cdai
cDAI (CDAI) $ 0.02215 0.38%
maker
Maker (MKR) $ 852.66 5.30%
bitdao
BitDAO (BIT) $ 0.485101 1.21%
klay-token
Klaytn (KLAY) $ 0.191447 1.37%
neutrino
Neutrino USD (USDN) $ 0.974972 0.40%
fantom
Fantom (FTM) $ 0.227723 2.50%
compound-ether
cETH (CETH) $ 27.16 2.68%
neo
NEO (NEO) $ 8.95 3.23%
helium
Helium (HNT) $ 5.30 7.99%
gatechain-token
Gate (GT) $ 4.38 1.66%
defichain
DeFiChain (DFI) $ 0.70203 2.84%
radix
Radix (XRD) $ 0.058325 2.74%
celsius-degree-token
Celsius Network (CEL) $ 1.37 3.77%
pax-gold
PAX Gold (PAXG) $ 1,722.34 1.82%
pancakeswap-token
PancakeSwap (CAKE) $ 4.79 4.59%
thorchain
THORChain (RUNE) $ 1.64 4.76%
osmosis
Osmosis (OSMO) $ 1.09 0.56%
zilliqa
Zilliqa (ZIL) $ 0.031902 1.83%
enjincoin
Enjin Coin (ENJ) $ 0.457932 2.12%
nexo
NEXO (NEXO) $ 0.901695 3.53%
arweave
Arweave (AR) $ 9.64 2.69%