What People Get Wrong About Bitcoin’s Climate Footprint: Nic Carter

What People Get Wrong About Bitcoin’s Climate Footprint: Nic Carter

Assessment

Interactive Video

Business

University

Hard

Created by

Quizizz Content

FREE Resource

The video discusses Bitcoin's energy consumption, highlighting its reliance on both renewable and non-renewable sources. It explores the geographical impact on mining, particularly in China, where hydropower is abundant. The video compares Bitcoin's system to traditional monetary systems, emphasizing the differences in energy use. Innovative solutions for clean energy adoption in mining are presented, including the use of natural gas. Finally, the future of Bitcoin mining is discussed, focusing on the shift from new issuance to fee-based revenue.

Read more

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of Bitcoin's energy consumption is estimated to be renewable according to the Cambridge Center for Alternative Finance?

75%

50%

39%

25%

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it argued that Bitcoin should be compared to the entire dollar system rather than individual payment networks?

Because Bitcoin is not widely used

Because Bitcoin uses less energy than credit networks

Because Bitcoin is a self-contained monetary and payment system

Because Bitcoin is a small part of the financial system

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does Bitcoin mining benefit from being a geography-independent energy buyer?

It only uses renewable energy sources

It requires a lot of infrastructure to transport energy

It can utilize energy in remote areas where it might otherwise be wasted

It can only use energy near population centers

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one method mentioned for using otherwise wasted natural gas in Bitcoin mining?

Transporting it to other countries

Setting up mining rigs to capture and use it

Using it to power homes

Burning it without capturing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary source of revenue for Bitcoin miners currently?

Transaction fees

New Bitcoin issuance

Government subsidies

Selling mining equipment

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is the revenue model for Bitcoin miners expected to change in the future?

Miners will stop earning revenue

Miners will receive government funding

Miners will rely more on transaction fees

Miners will receive more new Bitcoin

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the Bitcoin subsidy every four years?

It doubles

It increases by 10%

It remains the same

It is cut in half