{"id":346160,"date":"2022-09-15T07:20:43","date_gmt":"2022-09-15T11:20:43","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=346160"},"modified":"2022-09-15T07:20:43","modified_gmt":"2022-09-15T11:20:43","slug":"michael-saylor-takes-to-twitter-to-clarify-everything-about-bitcoins-energy-use","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/michael-saylor-takes-to-twitter-to-clarify-everything-about-bitcoins-energy-use","title":{"rendered":"Michael Saylor takes to Twitter to clarify everything about Bitcoin&#8217;s energy use"},"content":{"rendered":"<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-346161\" src=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/09\/Michael-Saylor.jpg\" alt=\"Michael Saylor\" width=\"1201\" height=\"720\" srcset=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/09\/Michael-Saylor.jpg 1201w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/09\/Michael-Saylor-300x180.jpg 300w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/09\/Michael-Saylor-1024x614.jpg 1024w, https:\/\/insidebitcoins.com\/wp-content\/uploads\/2022\/09\/Michael-Saylor-768x460.jpg 768w\" sizes=\"(max-width: 1201px) 100vw, 1201px\" \/><\/p>\n<p>Michael Saylor, a hopeless Bitcoin idealist, has risen in force against everything he calls misleading information and media manipulation about the environmental problems of proof-of-work BTC extraction right before Ethereum&#8217;s shift to proof-of-stake.<\/p>\n<p>Last Wednesday, MicroStrategy&#8217;s chairperson, who later backed down as a leader, communicated in a long comment on his Twitter feed, outlining seven high-level opinions on Bitcoin extraction and its environmental impact.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Given the sheer volume of misinformation &amp; propaganda circulating lately, I thought it important to share the truth regarding <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Mining and the Environment.<a href=\"https:\/\/t.co\/CRkayFwDsj\">https:\/\/t.co\/CRkayFwDsj<\/a><\/p>\n<p>&mdash; Michael Saylor\u26a1\ufe0f (@saylor) <a href=\"https:\/\/twitter.com\/saylor\/status\/1570090411246370816?ref_src=twsrc%5Etfw\">September 14, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Perhaps one of his main points was that PoW BTC extraction is inefficient energy consumption. Instead, Saylor asserts that it&#8217;s the cleanest manufacturing utilization of energy and is enhancing energy productivity at the rapid speed of any large industry.<\/p>\n<p>He upheld his assertion with statistics from the Bitcoin Mining Council&#8217;s 2nd quarter Global Bitcoin Data Mining Review, which was published last July and claims to cover 50.5% of a worldwide network, mentioning that 59.5% of electricity for mining bitcoin arises from renewable materials and fuel efficiency enhanced 46% year on year.<\/p>\n<p>Saylor&#8217;s assertion occurs when the Bitcoin mining sector has come under fire for its alleged environmental impact, with some US states even considering prohibiting virtual currency mining.<\/p>\n<h2>Constant improvement<\/h2>\n<p>Saylor asserts that continual network advancements and unrelenting semiconductor advancement make extraction far more power intensive than large technology companies like Facebook, Netflix, or Google.<\/p>\n<p>According to Saylor, roughly $4-5B in energy is employed to power and secure a system worth $420B today. He says that Bitcoin uses far less electricity than Facebook, Netflix, or Google, and 1-2 hundredths of an enormity less electricity than conventional 20th-century businesses like airline companies, logistic support, sales, accommodation, and agricultural production.<\/p>\n<p>Saylor furthermore asserted that 99.92% of global carbon dioxide emissions are caused by industrial electricity uses besides bitcoin mining. According to the data, Saylor doesn&#8217;t believe environmentalists&#8217; arguments against PoW mining seem valid.<\/p>\n<p>Instead, he believes it is an effort to shift negative attention away from Proof-of-Work extraction and divert authorities&#8217; focus away from the uncomfortable fact that Proof-of-Stake virtual currency assets are usually unregistered investment vehicles traded on unregulated transactions.<\/p>\n<p>Ripple is currently involved in a high-profile court fight with the Securities and Exchange Commission for supposedly undertaking an unlicensed equities sale in the shape of the Ripple XRP.<\/p>\n<p>Finally, Saylor claims that all of the negativity surrounding PoW extraction diverts attention from the positive advantages for the universe.<\/p>\n<h3>Related<\/h3>\n<ul>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/michael-saylor-sued-for-tax-fraud-is-this-bullish-for-bitcoin\">Michael Saylor Sued for Tax Fraud- Is This Bullish for Bitcoin<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/does-michael-saylor-regret-buying-bitcoin\">Does Michael Saylor Regret Buying Bitcoin?<\/a><\/li>\n<li><a href=\"https:\/\/insidebitcoins.com\/news\/michael-saylor-steps-down-as-microstrategy-ceo-to-serve-as-executive-chair\">Michael Saylor steps down as MicroStrategy CEO to serve as executive chair<\/a><\/li>\n<\/ul>\n\n            \n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Michael Saylor, a hopeless Bitcoin idealist, has risen in force against everything he calls misleading information and media manipulation about the environmental problems of proof-of-work <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/michael-saylor-takes-to-twitter-to-clarify-everything-about-bitcoins-energy-use\" title=\"Michael Saylor takes to Twitter to clarify everything about Bitcoin&#8217;s energy use\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":346161,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[],"class_list":["post-346160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Michael Saylor takes to Twitter to clarify everything about Bitcoin&#039;s energy use<\/title>\n<meta name=\"description\" content=\"Michael Saylor, a hopeless Bitcoin idealist, has risen in force against everything he calls misleading information and media manipulation\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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