Tag: China

Bitcoin’s Carbon Footprint May Destroy the Environment

Washington (GGM) Analysis | April 8, 2021 by Attorney Michael Wells, PodcastLegal Fact and Fiction

Napoleon Bonaparte once said, “Let China sleep, for when she wakes, she will shake the world.” China poses military, economic, social, and environmental threats to the entire world. Yet, with the myriad threats it poses, one threat it has awakened, Bitcoin, threatens to shake — and possibly destroy — the environment. Although Bitcoin requires the most advanced computers performing dizzying calculations, it needs unfathomable amounts of energy, and that energy comes primarily from fossil fuels in China, namely coal.

Home composting boosts soil health and carbon storage in the soil, saves our food supply, our planet, and millions of lives. Let’s all jump in together and make this fun!

Heart of the matter. For years Bitcoin appeared to be a passing fad and something many people were only vaguely aware of, but it is here to stay as is other cryptocurrency. And most of it is constructed or “mined” in China, which requires tons of hardware that needs energy. In China, that energy is supplied by coal based power, according to a February 5, 2021 CNBC article. Bitcoin is the 9th most valuable asset in the world, and it requires more energy than New Zealand. In fact, if Bitcoin were a country, it would rank 31st in the world for energy consumption, according to a March 19, 2021 Independent article. Although Bitcoin has been around since 2009, its energy use came to the forefront in 2017, but, since that time, its energy use has quadrupled since then.

Proponents of Bitcoin, as cited in the Independent article, argue Bitcoin is “moving” towards “renewable energy,” and it will one day be a leader in renewable energy. Little evidence exists of these assertions. What is apparent, however, is the cryptocurrency market, led by Bitcoin is growing. As a currency it is attractive because its so-called block chain technology makes it unique, tough to steal, scarce, and easy to spend. The downside of that is the creation of cryptocurrency or “mining” requires computing power and vast energy sources. That computing power mainly comes from China, which relies heavily on coal however advanced their society may be. And that is a huge problem for the environment no matter how proponents want to spin it.

How this impacts you personally. If you are worried about food shortages, pandemics, cities under water, droughts, or most any other calamity flowing from climate change, then the growth of Bitcoin and other cryptocurrencies should worry you because they rely so heavily on fossil fuels, namely coal. Until Bitcoin derives its energy from renewable energy sources, it will continue to be an environmental threat, a threat that grows larger as the demand for Bitcoin increases.

What you can do. The best way to lessen the Bitcoin environmental threat is not to buy stock in the company. Another way is not to use the currency or be involved in “mining” it. In addition, tell people it is a threat because many people are probably unaware Bitcoin poses such a threat.

Next Steps:

  • Learn as much as possible about Bitcoin and other cryptocurrencies;
  • Do not purchase Bitcoin stock shares or fractions of shares; 
  • Learn more about renewable energy; and
  • Contact your local, state, and federal officials and let them know how you feel about Bitcoin and other cryptocurrencies.
Adding composting worms to our home composting bins and/or directly to the soil in our yards will dramatically improve the amount of carbon we can store in the soil. Climate solutions are much easier than we realize. Act today! CLICK here.

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EV Cars Are Finally Making Traction in U.S. | A Decade Later

Washington (Gallant Gold Media Hill Report | Analysis | August 19, 2019)
NoreenByLine by Noreen Wise

It’s exciting to see EV cars suddenly begin taking off similar to the way the iPhone did a decade ago. The iPhone’s first release was June 29, 2007, with sales of 1.39 million units worldwide. Sales leaped to 11.63 million units sold within one short year. And by the five year mark, 2011, Apple pulled off a stunning success of 72.29 million units. Although EV car sales haven’t seen the same immediate sustained sales success as the iPhone, mostly because of the initial high price, short range, and no charging station infrastructure, now that those issues have all been addressed, the tide will change.

Key Improvements that are giving EV cars traction with American public:

  • Price has come down dramatically, several start at only $30,000
  • Range has increased substantially (can now drive up to 200 miles on one charge); the range will continue to grow
  • Charging stations are popping up all over the country
  • It now only takes 20 minutes to recharge a BEV
  • Many employers now have charging stations in the employee parking lot
  • EV drivers will save approximately $1,000 a year not buying gas, possibly more

In 2018, Americans purchased 361,3017 EV cars out of a worldwide total sales of 2,018,247. (U.S. sales in 2009 were a paltry 6,000.) Norway has had remarkable success selling EV cars with 40 – 58% of the population already owning an EV, with the expectation that as soon as 2025 100% of Norwegian driving public will own an EV.

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China sales have picked up substantially, driving global success. In 2018, the chinese purchased 1.1 million EVs.

The 10 best selling EVs in U.S. in 2019:

10. Smart EQ fortwo – 496 units sold in 2019
9. Jaguar I-Pace – 1,309
8. Audi e-tron – 1,835
7. Volkswagon e-Golf – 1,893
6. BMW i3 – 2,207
5. Nisson Leaf – 6,008
4. Tesla Model S – 7,225
3. Chevrolet Bolt EV – 8,281
2. Tesla Model X – 9,000
1. Tesla Model 3 – 67,650

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2018 was an amazing year for EV sales, with fall of course being the biggest sales months as new models roll off the production line. Based on June 2019’s strength, nearly matching November 2018, it looks like 2019 will be a record year.

Let’s GO! Let’s beat China!

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