3.2 GB Block Sizes: Developers Bash Bitcoin Climate Change Study as ‘Fake News’
HomeCryptocurrency NewsBitcoinist.com

3.2 GB Block Sizes: Developers Bash Bitcoin Climate Change Study as ‘Fake News’

Bitcoin Core developer Peter Todd joined the backlash against a “fake news” report about Bitcoin’s impact on global warming October 29. Thi...

Bitcoin Core developer Peter Todd joined the backlash against a “fake news” report about Bitcoin’s impact on global warming October 29. This occurred after multiple appearances in mainstream media publications.


Nature‘s ‘Naive Assumptions’

Originally published by Nature, the brief report claims that Bitcoin (BTC) 00 mining could help increase temperatures by over 2 degrees Celsius within just “11 years” depending on Bitcoin’s rate of adoption.

“Bitcoin is a power-hungry cryptocurrency that is increasingly used as an investment and payment system,” an excerpt of the paper reads.

Here we show that projected Bitcoin usage, should it follow the rate of adoption of other broadly adopted technologies, could alone produce enough CO2 emissions to push warming above 2 °C within less than three decades.

While claims Bitcoin is environmentally unfriendly often surface in the media, the Nature piece sparked controversy with some of Bitcoin’s best-known figures.

Not only was its data based on “naive assumptions,” but many of the mainstream outlets reporting on it failed to link to the paper itself, CoinMetrics.io co-founder Nic Carter noted.

A Small Matter of 3.2 GB Bitcoin Blocks

Todd went on to, call out those who repeated the report’s findings without fact-checking as “either incompetent or a fraud.”

“That major mainstream media organizations are reporting on this is a scathing indictment of the MSM. It’s simply fake news; to publish is either incompetence or fraud,” he added.

According to Carter, the report’s figures are so far from the truth that the Bitcoin network would look nothing like it does if it produced the emissions Nature claims.

Carter said the characteristics the network would need to exhibit are 3.2 gigabyte block sizes, fixed issuance of newly-mined bitcoins and scaling to process 310 gigabytes of transactions on chain.

Carter added he had himself attempted to estimate Bitcoin’s future energy consumption, but his figures were “not at a level of quality” for him to share any findings at present.

What do you think about the Nature.com report picked up by the MSM? Let us know in the comments below!


Images courtesy of Shutterstock, Twittwer (@nic__carter)

The post 3.2 GB Block Sizes: Developers Bash Bitcoin Climate Change Study as ‘Fake News’ appeared first on Bitcoinist.com.



from Bitcoinist.com https://ift.tt/2SsCpbH
Name

Bitcoin News,5117,Bitcoinist.com,4741,Cryptocurrencies,4741,Cryptocurrencies Latest News,5117,Cryptocurrency Latest News,4741,Cryptocurrency News,9858,
ltr
item
Cryptocurrency Latest News: 3.2 GB Block Sizes: Developers Bash Bitcoin Climate Change Study as ‘Fake News’
3.2 GB Block Sizes: Developers Bash Bitcoin Climate Change Study as ‘Fake News’
https://bitcoinist.com/wp-content/uploads/2018/08/ss_climate_change-596x420.jpg
Cryptocurrency Latest News
http://cryptocurrencylatest.blogspot.com/2018/10/32-gb-block-sizes-developers-bash.html
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/2018/10/32-gb-block-sizes-developers-bash.html
true
1236144943044321696
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy