[LINK] Bitcoin and global warming

Tom Worthington tom.worthington at tomw.net.au
Mon Jan 8 11:59:53 AEDT 2018


On 17/12/2017 09:39, Bernard Robertson-Dunn wrote:

> The Hard Math Behind Bitcoin's Global Warming Problem
> https://www.wired.com/story/bitcoin-global-warming/

In this article Adam Rogers points out that rather than use more 
efficient hardware to save electricity, bitcoin miners use it to mine 
more bitcoins.

This effect is well known in economics as the "Jevons paradox", from 
William Stanley Jevons in 1865: 
https://books.google.com.au/books?id=gAAKAAAAIAAJ&q=It+is+a+confusion+of+ideas

ps: Jevons lived for some time in Sydney: 
http://www.ramin.com.au/walks/50s-Annandale-A-Short-Walk.shtml


-- 
Tom Worthington, MEd, FHEA, FACS CP. http://www.tomw.net.au t 
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