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Are Cryptocurrencies Zero-Waste?

  • Are cryptocurrencies and cryptoart (bitcoin, ethereum, NFTs, etc.) Zero-Waste?

I was inspired to research more about NFTs and cryptoart since the topics were recently trending in creative industries. What I found wasn’t pretty at all…

HERE IS THE ARTICLE YOU CAN SEND TO PEOPLE WHEN THEY SAY “BUT THE ENVIRONMENTAL ISSUES WITH CRYPTOART WILL BE SOLVED SOON, RIGHT?”

Article by Everest Pipkin

  • After a decade+ of a growing cryptocurrency market, what we've been left with is a financial network that uses more energy than Argentina...Source: everestpipkin.medium.com
  • Minting artwork on the blockchain uses somewhere between weeks, months, years (and in rare instances decades) of an average EU or US citizen's energy consumption. Source: everestpipkin.medium.com
  • there is not a [crypto value] schema that doesn’t reward those who are already wealthy, who are already bought in, who already have excess capital or access to outsized computational power. Source: everestpipkin.medium.com
  • After a decade+ of a growing cryptocurrency market, what we've been left with is a financial network that uses more energy than Argentina...Source: everestpipkin.medium.com

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