{"id":365872,"date":"2018-12-18T17:01:42","date_gmt":"2018-12-18T17:01:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=365872"},"modified":"2019-03-11T20:40:11","modified_gmt":"2019-03-11T20:40:11","slug":"bitcoin-solar-energy-free","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-solar-energy-free\/","title":{"rendered":"Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Bitcoin and its trustless, decentralized design requires a unique process called mining that validates each transaction being added to its underlying blockchain. The process involves solving complex mathematical equations, and typically requires some serious computer processing power, and even specially-designed hardware, to validate each block.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Due to the amount of energy consumed during this process, Bitcoin and other cryptocurrencies are often demonized for contributing to global carbon emissions, potentially harming the environment. However, an overabundance of solar energy in some parts of the world may make Bitcoin\u2019s electricity consumption a non-issue in the future.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Free Solar Energy Could Make Bitcoin Carbon Footprint Negligible <\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">As concerns around global climate change grow, the original cryptocurrency is increasingly becoming a topic of much negativity \u2013 not just for its recent price movements, but also for its contributions to global carbon emissions. The leading cryptocurrency by market cap\u2019s notorious energy consumption has been referred to by pundits as its \u201cAchilles heel,\u201d suggesting its Bitcoin\u2019s biggest weakness.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">However, these claims may be over-dramatized by naysayers and media alike, as solar energy from the sun can easily, cheaply, and effectively be harnessed to power Bitcoin mining.<\/span><\/p>\n<p style=\"text-align: center\"><strong><em>Related Reading | <a href=\"https:\/\/ktsl888.com\/2018\/02\/09\/bitcoin-triggered-energy-arms-race\/\">Bitcoin Has Triggered an Energy Arms Race<\/a><\/em><\/strong><\/p>\n<p class=\"p1\"><span class=\"s1\">Take Chile, for example. Chile has among the highest solar irradiance in the entire world, boasts Latin America\u2019s largest solar power plant, and in general enjoys an abundance of solar power. Chile\u2019s proximity to the equator, climate and weather conditions make the country a prime location for generating solar energy.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Chile is planning on harnessing as much as 19% of the country\u2019s electricity using solar means by the year 2050, according to the roadmap set forth by the country\u2019s Ministry of Energy. Chile is already over-producing so much solar power, it has been <a href=\"https:\/\/www.independent.co.uk\/environment\/chile-solar-power-panels-free-electricity-give-it-away-a7063131.html\" rel=\"nofollow\"><span class=\"s2\">giving it away for free since 2016<\/span><\/a>.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Researchers Agree: Bitcoin\u2019s Energy Woes Are Overblown<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">University of Pittsburgh research associate Katrina Kelly-Pitou, whose work includes the study of clean energy technologies like solar energy says that in time, the energy consumption of new technologies eventually become more efficient, as will Bitcoin and other cryptocurrencies.<\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cI am a researcher who studies clean energy technology, specifically the transition toward decarbonized energy systems. I think that the conversation around bitcoin and energy has been oversimplified,\u201d <a href=\"https:\/\/ktsl888.com\/2018\/08\/20\/is-bitcoins-global-energy-consumption-really-something-to-be-concerned-about\/\">explained<\/a> Kelly-Pitou.<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">She also explains that not all cryptocurrency mining setups should be treated as equal, suggesting that fossil-based electricity sources as found currently in China would contribute much more carbon emissions than hydro-powered mining farms such as those <a href=\"https:\/\/ktsl888.com\/2018\/12\/03\/us-mining-ceo-bitcoin-miners-are-being-flushed-out-of-the-market\/\">found in the Pacific Northwest<\/a>.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/ktsl888.com\/2017\/11\/29\/bitcoin-mining-causes-increase-in-energy-consumption\/\">Bitcoin Mining Energy Consumption Increases Drastically<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Regardless of location, pundits should focus their negativity towards the firms mining for Bitcoin, and the sources of power they use \u2013 and stop putting the blame on Bitcoin itself.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and its trustless, decentralized design requires a unique process called mining that validates each transaction being added to its underlying blockchain. The process involves solving complex mathematical equations, and typically requires some serious computer processing power, and even specially-designed hardware, to validate each block. Due to the amount of energy consumed during this process, Bitcoin and other cryptocurrencies are often demonized for contributing to global carbon emissions, potentially harming the environment. However, an overabundance of solar energy in some parts of the world may make Bitcoin\u2019s electricity consumption a non-issue in the future. Free Solar Energy Could Make Bitcoin Carbon Footprint Negligible As concerns around global climate change grow, the original cryptocurrency is increasingly becoming a topic of much negativity \u2013 not just for its recent price movements, but also for its contributions to global carbon emissions. The leading cryptocurrency by market cap\u2019s notorious energy consumption has been referred to by pundits as its \u201cAchilles heel,\u201d suggesting its Bitcoin\u2019s biggest weakness. However, these claims may be over-dramatized by naysayers and media alike, as solar energy from the sun can easily, cheaply, and effectively be harnessed to power Bitcoin mining. Related Reading | Bitcoin Has Triggered an Energy Arms Race Take Chile, for example. Chile has among the highest solar irradiance in the entire world, boasts Latin America\u2019s largest solar power plant, and in general enjoys an abundance of solar power. Chile\u2019s proximity to the equator, climate and weather conditions make the country a prime location for generating solar energy. Chile is planning on harnessing as much as 19% of the country\u2019s electricity using solar means by the year 2050, according to the roadmap set forth by the country\u2019s Ministry of Energy. Chile is already over-producing so much solar power, it has been giving it away for free since 2016. Researchers Agree: Bitcoin\u2019s Energy Woes Are Overblown University of Pittsburgh research associate Katrina Kelly-Pitou, whose work includes the study of clean energy technologies like solar energy says that in time, the energy consumption of new technologies eventually become more efficient, as will Bitcoin and other cryptocurrencies. \u201cI am a researcher who studies clean energy technology, specifically the transition toward decarbonized energy systems. I think that the conversation around bitcoin and energy has been oversimplified,\u201d explained Kelly-Pitou. She also explains that not all cryptocurrency mining setups should be treated as equal, suggesting that fossil-based electricity sources as found currently in China would contribute much more carbon emissions than hydro-powered mining farms such as those found in the Pacific Northwest. Related Reading |\u00a0Bitcoin Mining Energy Consumption Increases Drastically Regardless of location, pundits should focus their negativity towards the firms mining for Bitcoin, and the sources of power they use \u2013 and stop putting the blame on Bitcoin itself.<\/p>\n","protected":false},"author":517,"featured_media":365873,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,640,14430,14433,8300],"class_list":["post-365872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-mining","tag-carbon-footprint","tag-energy-consumption","tag-solar-energy"],"acf":[],"yoast_head":"\n<title>Bitcoin Energy Consumtion a Non-Issue Thanks to Free Solar Energy<\/title>\n<meta name=\"description\" content=\"An overabundance of solar energy in some parts of the world may make the electricity Bitcoin consumes a non-issue in the future.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-solar-energy-free\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Energy Consumtion a Non-Issue Thanks to Free Solar Energy\" \/>\n<meta property=\"og:description\" content=\"An overabundance of solar energy in some parts of the world may make the electricity Bitcoin consumes a non-issue in the future.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-solar-energy-free\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-18T17:01:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-11T20:40:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/12\/bitcoin-solar-shutterstock_1121313809.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4032\" \/>\n\t<meta property=\"og:image:height\" content=\"2268\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;The Bull&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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\"The Bull\" Severino","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/129b75c18bdea8b048f1d7d526df61d7?s=96&d=mm&r=g","caption":"Tony \"The Bull\" Severino"},"description":"Tony \"The Bull\" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/ktsl888.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions","url":"http:\/\/ktsl888.com\/news\/bitcoin-solar-energy-free\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-solar-energy-free\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/12\/bitcoin-solar-shutterstock_1121313809.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/12\/bitcoin-solar-shutterstock_1121313809.jpg?fit=4032%2C2268"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin mining","carbon footprint","energy consumption","solar energy"],"dateCreated":"2018-12-18T17:01:42Z","datePublished":"2018-12-18T17:01:42Z","dateModified":"2019-03-11T20:40:11Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Electricity Consumption of Bitcoin is a Non-Issue: Solar Energy is Free in Some Regions\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-solar-energy-free\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-solar-energy-free\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/bitcoin-solar-shutterstock_1121313809.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/bitcoin-solar-shutterstock_1121313809.jpg?fit=4032%2C2268\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin mining\",\"carbon footprint\",\"energy consumption\",\"solar energy\"],\"dateCreated\":\"2018-12-18T17:01:42Z\",\"datePublished\":\"2018-12-18T17:01:42Z\",\"dateModified\":\"2019-03-11T20:40:11Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/12\/bitcoin-solar-shutterstock_1121313809.jpg?fit=4032%2C2268","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/365872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=365872"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/365872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/365873"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=365872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=365872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=365872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}