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As this recent article from the Guardian highlights, the absurdities of global finance as exemplified by our current monetary system will not be addressed through bitcoin or other forms of alternative currencies based on even shakier foundations. Incredibly, the process for generating bitcoin this new form of currency requires more electricity that the annual consumption of many countries. But that doesn’t make any sense, you say. We need future monetary systems that support communities and sustain ecosystems. Read on.
“It’s not just the value of bitcoin that has soared in the last year – so has the huge amount of energy it consumes. The cryptocurrency’s value has dipped recently after passing a high of $50,000 but the energy used to create it has continued to soar during its epic rise, climbing to the equivalent to the annual carbon […]”
