Is Bitcoin Unsustainable, and How Can It Be Made Sustainable?

Bitcoin Magazine
Is Bitcoin Unsustainable, and How Can It Be Made Sustainable?

Bitcoin Is Unsustainable,” claims the title of a provocative essay by Motherboard contributor Christopher Malmo that has spurred considerable debate. Malmo’s central thesis is that Bitcoin uses way too much electricity.

The essay opens with a future scenario that, in view of the crisis in Greece, is beginning to appear more plausible – in 2018, Greece is long out of the Eurozone and economic malaise is spreading to neighboring countries.  Panicked Europeans sell their euro for bitcoin, which is becoming a stable and respectable currency, causing even more user adoption and recognition by governments.

According to Malmo this scenario, which sounds like heaven to faithful Bitcoin enthusiasts, is more like hell – a burning hell of bitcoin mining circuitry and electricity costs spiraling out of control.

Malmo mentions huge mining operations in China with a catastrophic environmental impact, and notes that the total power consumption of the Bitcoin network is estimated by computer cooling firm Allied Control at 250 megawatts to 500 megawatts.

“That’s around enough zap to power 173,000 average American households’ daily electricity usage,” says Malmo. “With about 110,000 transactions per day, that works out to 1.57 households daily usage of electricity per bitcoin transaction.”

His conclusion: “Yes, every time you buy something in bitcoin, you could be using as much electricity as 1.57 American families do in a day.”

As climate change becomes a more pressing concern for humanity every day, this huge level of energy use is difficult to justify for a currency wanting to improve on the current arrangement.

“It appears there are significant challenges to ensuring that Bitcoin’s growth minimizes environmental impacts,” noted Jeremy McDaniels, a financial system sustainability expert with the United Nations Environment Program. “Energy footprints could be an issue if major scale-up is achieved.”

That’s is already a lot for passionate Bitcoin evangelists to swallow, but Malmo makes things even worse when he unfavorably compares Bitcoin to the Visa network – of all things – in terms of energy consumption:

“That makes Bitcoin about 5,033 times more energy intensive, per transaction, than Visa.”

That caused the anger of many readers, who promptly pointed out that the analysis doesn’t take into account the overall energy footprint of traditional payment, banking and financial service providers. Some accuse the author of just having his facts wrong.

Malmo’s analysis seems, indeed, a bit forced and overstated. However, dismissing it without consideration would be a disservice to Bitcoin, because everything needs constructive criticism to move beyond current flaws. Bitcoin is – though perhaps not to the extent denounced by Malmo – less energy efficient than it could and should be.

Malmo notes that developers might be able to reduce Bitcoin’s energy footprint by moving ahead with the controversial proposed increase of the block size to 20 megabytes, or 8 megabytes.

Another option to reduce Bitcoin’s energy footprint would be implementing energy-efficient Sidechains, separate from the main Bitcoin blockchain but interoperable with it by means of two-way pegs, or Lightning Networks, where related transactions can take place instantly on “micropayment channels” off-chain, and only the final settlement is processed by the blockchain. Lightning networks could enable bitcoin scalability, efficient micropayments and near-instant transactions.

The post Is Bitcoin Unsustainable, and How Can It Be Made Sustainable? appeared first on Bitcoin Magazine.

Bitcoin Gaming Alternative HYPER Added to MMORPG Dragon Knights of Valeria – HYPER Roadmap Document Released

Bitcoin Press Release: HYPER has been fully integrated into the free market trading platform for in-game resources in MMO RPG Dragon Knights of Valeria. The HYPER project runs over 10 HYPER enabled game servers including CSGO, Counter-Strike: Global Offensive, Rust, Poker and much more.The official HYPER strategy and roadmap document was also recently released.

Over a year old, HYPER is pleased to announce that it has been fully integrated into MMO RPG Dragon Knights of Valeria. Anyone can now deposit and withdraw HYPER; trading it for other in-game resources as players build up their kingdom.

Dragon Knights of Valeria is a popular MMORPG game with over 400 players. Players can earn HYPER, GoldPieces and Dragon Points (DP) as they play the game which can then be traded for up to 7 different cryptocurrencies and withdrawn in-game. The creator, Anarchist of Crypto Database, is also responsible for curating a CC library that catalogs over 1,300 different coins and supplies information for each one.

As the admin Anarchist says about Dragon Knights of Valeria game play:

“Once inside the world of Dragon Knights of Valeria players can explore the map in search of new towns, fight monsters for rewards and DP, and do quests that also award DP for each part completed. Each town offers its own set of equipment, pets, quests, exchanges, gambling, banks, clans, and assorted other options.

Towns also offer a gateway into their very own Kingdom where they can build villages, purchase more land, gather resources such as wood and fish, upgrade their fishing and woodcutting levels to increase the amounts gained, and train their own army once they reach level 10. You can send your soldiers to attack other players kingdoms in the hopes of taking more land, gold, and DP from your opponent.”

As well as HYPER, Dragon Knights of Valeria has also integrated online RPG gaming digital currency GoldPieces (GP) into the in-game free market trading platform. GP had no premine, and is a currency designed for online RPG gaming specifically.

HYPER and Goldpieces are the only currencies with this level of integration in Dragon Knights of Valeria, and HYPER remains the top sponsor of the innovative online MMORPG.

Dragon Knights of Valeria also has an in-game tip bot, where anyone can be tipped free HYPER and GP simply for playing, and contributing to the community in chat.

The Dragon Knights of Valeria Bitcointalk thread is where the latest game updates are posted:

Recently celebrating its first birthday, the HYPER project has also released the official HYPER roadmap and strategy document. The document outlines the unprecedented cryptocurrency gaming ecosystem HYPER has established in its first year of existence, and where the project is heading.

The HYPER development team states that the ultimate vision of HYPER is for:

“HYPER to be known and used by all serious gamers worldwide. HYPER is the ultimate disruptive gaming digital currency with hundreds of online games and servers that utilize HYPER as the in-game currency. HYPER has a diverse and unprecedented ecosystem, that provides many unique opportunities for gaming, trading and profit.


In some ways HYPER has already achieved a part of this vision. It is the most widely known gaming digital currency with the most extensive ecosystem. The next step is to have HYPER break into the multi-billion dollar industry of mainstream gaming. And of course to have a lot of fun while we are doing it.”

HYPER currently runs over 10 game servers with full HYPER integration including CSGO, Counter-Strike: Global Offensive, Rust, HYPER Wars Space Strategy, Hyperzanda, Poker, and much more.

Releasing the new HYPER Strategy and Roadmap document, and with HYPER integration in MMORPG Dragon Knights of Valeria – HYPER continues to cement its position as the leading gaming cryptocurrency.

Visit the HYPER Wiki to see all the HYPER game servers:

Read the official HYPER Roadmap and Strategy document at:

To trade HYPER with Bitcoin please go to:

Visit HYPER on Bitcointalk:

Visit Dragon Knights of Valeria at:

Visit Dragon Knights of Valeria bitcointalk thread:


This press release is for informational purposes only. The information does not constitute investment advice or an endorsement by Bitcoin Magazine or BTC Media, LLC. Bitcoin Magazine does not certify the accuracy of the above information provided by HYPER.

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