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Bitcoin energy consumption projections missed mark; AI demand rising

In 2017, Bitcoin was predicted to consume all global energy by 2020, a projection that did not materialize. While cryptocurrency, including Bitcoin, consumes a significant amount of energy (approximately 150 TWh), current AI energy consumption is comparable. Projections suggest AI's energy demand will continue to rise, while cryptocurrency's may not. AI

IMPACT AI's energy consumption is now comparable to that of cryptocurrencies, with projections indicating continued growth in AI's demand.

RANK_REASON The item discusses past predictions about Bitcoin's energy consumption and compares it to current AI energy usage, offering commentary on future trends.

Read on Mastodon — sigmoid.social →

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Bitcoin energy consumption projections missed mark; AI demand rising

COVERAGE [1]

  1. Mastodon — sigmoid.social TIER_1 English(EN) · [email protected] ·

    In 2017 # Bitcoin was projected to consume all the world's energy by 2020. Somehow, magically, we got to 2020 and still had energy. So... what happened? Bitcoin

    In 2017 # Bitcoin was projected to consume all the world's energy by 2020. Somehow, magically, we got to 2020 and still had energy. So... what happened? Bitcoin is literally a store of wasted electricity. The cost basis changes. Don't get me wrong. # Crypto consumes large amounts…