Bitcoin estimated to use half a percent of the world’s electric energy by end of 2018

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(Cell Press) Bitcoin's burgeoning electricity demands have attracted almost as much attention as the cryptocurrency's fluctuating value. But estimating exactly how much electricity the Bitcoin network uses remains a challenge. In the first rigorously peer-reviewed article quantifying Bitcoin's energy requirements, a Commentary appearing May 16 in the journal Joule, financial economist and blockchain specialist Alex de Vries uses a new methodology to pinpoint where Bitcoin's electric energy consumption is headed and how soon it might get there.

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