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1) Ok, so how much CO2 does BTC actually create? How much of a worry is it?

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1) So on energy usage of BTC: The profile will change long-term. Right now the main driver is from block rewards. But as block rewards exponentially decay, those will become less relevant. Long-term, there are really two core drivers.

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2) NOT... advice, really. Just math.

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3) Ok, so. Let's say you spend $X on BTC/ETH blockchain fees (or any PoW currency). Those $X are going to miners in a bidding war for block slots. In an efficient market, as long as it's profitable to run a BTC/ETH mining rig, more people will open them up.

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4) So in equilibrium, it should be a bit above breakeven: if they're paid $X, they must have < $X of total expenses. So gas fees ~ 1.5 * mining costs. mining costs are 1/2 electricity 1/2 machines, which take electricity. So 3/4 * mining costs ~ $ spent on electricity.

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5) Something like 1/3 of mining rigs run on renewable electricity, so dirty electricity ~ 2/3 * $ spent on electricity. Electricity that miners use costs ~$0.05 / kWh. Each kWh of dirty electricity produces about 0.0004 tons of CO2.

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6) Finally, how bad is one ton of CO2? Well, givingwhatwecan.org/report/cool-ea estimates about $1 to reduce CO2 emissions by 1 ton.

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7) Ok, so putting it all together.... a) $x in gas b) * 2/3 --> in mining cost c) * 3/4 --> electricity d) * 2/3--> dirty electricity e) / $0.05 --> kWh f) * 0.0004 --> tons of CO2 g) * $1 --> cost to offset 2/3 * 3/4 * 2/3 / 0.05 * 0.0004 * 1 = 0.0026

8:32 PM · May 20, 2021Twitter Web App

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8) So this implies, with large error bars: If, for every $1 you spend on gas/blockchain fees, you donate $0.0026 to Cool Earth, you'll be roughly carbon neutral.

-- does this seem right? If so, I think the environmental worries about BTC are pretty easily offset!

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BTC risk on/off

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Suggesting clean electricity is somehow ever carbon neutral. Windmills never recover their CO2 debt Anthropogenic theory was debunked by an irreducibly simple climate model that proved CO2 forcing is exaggerated 4.5x's on average/IPCC model. ISCM also more accurate, obviously

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Never seen even *one* of these so-called "analyses" by BTC maxis include the cost of cooling the miners, an ancillary cost that is almost never accounted for.

BitMEX Research

@BitMEXResearch

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> $1 --> cost to offset Where did this $1 per ton offset cost come from?

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PumpkinBiscotti

@PumpkinBiscotti

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@BitMEXResearch

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Adam Cochran (adamscochran.eth)

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If you are spending $1 a ton to offset those are shitty carbon credits that lack permeance or are cap/trade credits not full offsets. Good offsets are $6-$12 USD per ton. Full carbon removal with 1000 year permeance is $125 - $500/ton

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The Bitcoin Shaykh

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Well based on FTX's tweet on this, they calculated $150K as ofseetting costs, but are actually donating $1M. 6.66x above the "shitty" floor as you mentioned, and in the lower range of you denoted as a good offsets.

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