James Brodie
Sep 4, 2018 · 1 min read

I look forward to your final instalments Hass — bearing in mind the conclusion from your 2014 paper; when viewed in the light of energy expenditure of instruments within the current financial system, energy expended in securing bitcoin’s network by mining pales in comparison.

For those unfamiliar: Tonnes of CO2 produced: Gold mining, 45m tonnes; Gold recycling, 4m tonnes; Paper currency and minting, 6.7m tonnes; Banking system, 390m tonnes;

Bitcoin mining, 0.6m tonnes

It is a little concerning that bitcoin has effectively increased by two orders of magnitude over the last 4 years. I look forward to your gold comparison when it is released, to see how much that too has deviated.

Keep up the good work, god knows why your efforts haven't been recognised yet!

    James Brodie

    Written by

    Chief Investment Officer at ID Theory