Michel Rauchs on The Bitcoin Electricity Consumption Index - WBD126

Mr Obnoxious

Peter McCormack

Technology, News, Politics, Money, Investing, Finance, Bitcoin

4.8 • 2.7K Ratings

🗓️ 16 July 2019

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Whenever you hear about Bitcoin in the mainstream media, undoubtedly one of the things that comes up time and time again is the power consumption needed to secure the network and which is the latest country Bitcoin has overtaken on power usage. Is this something Bitcoiners should be worried about and can the criticism be written off as a way for Bitcoin naysayers to ignore it for a little longer?

Michel Rauchs recently released The Bitcoin Electricity Consumption Index to address this issue and try and put Bitcoin’s power consumption into perspective. We discussed:

Whether Bitcoin needs to be inefficient to work?
If holding Bitcoin is using Bitcoin
What is Bitcoin’s carbon footprint and is it a concern
How much of the power used to mine Bitcoin is renewable?
If Bitcoin were to reach $1,000,000 would mining use all the available power on earth?

Transcript

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0:00.0	Welcome to the What Bit Bitcoin Did Podcast.
0:05.0	Hi there from sunny Los Angeles.
0:08.5	How are you all?
0:09.5	How is your weekend?
0:10.6	Welcome to the What Bit coin did podcast, which is brought to you by Krakhan.
0:14.0	I'm your host Peter McCormack and today I've got an interview with Michelle Routes from the University of Cambridge
0:19.6	Judge Business School where we discussed there recently announced Cambridge
0:23.4	Bitcoin Electricity consumption index, well that's a mouthful, but anyway before that I've
0:28.0	got a message from my show sponsors. So first up today's show is brought to you by
0:32.2	the world's best exchange
0:33.7	Cracken and it's the only place I now used to buy and sell Bitcoin and a few days
0:38.2	ago I finally got to record an episode with Cracken's chief security officer
0:41.9	Nick Pacoco where we discuss a whole bunch of security related topics
0:46.2	It's a show that's been in the planning for a while. I got out to Chicago. We did it. It's going to be released on Tuesday July 22nd. You're not going to want to miss it. It's going to be released on Tuesday, July 22nd.
0:53.0	You're not going to want to miss it.
0:54.0	It's a great episode.
0:55.0	And speaking with Nick only,
0:57.0	reinforced my belief and support a cracken
0:59.0	on why it's the only exchange I use,
1:00.0	and it's the only exchange you should be using. Exchange security is so
1:04.7	important. You are trusting these companies not to get hacked and not to lose
1:08.4	your Bitcoin and Krakan has security embedded into the company. It is part of their DNA. And also on
	...

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