Last year, U.S. cryptocurrency mining consumed more energy than all computers

According to a graph that has been circulating online recently, the power consumption of US crypto mining exceeds that of all computers in the US. It is also greater than all fans and pumps, greater than all freezers. , clothes washers and dishwashers.

If we only focus on computers, we see that Bitcoin mining in the US used more power than all the computers in the country combined, that is, every single computer. And that is a very large number.

And to note is that cryptocurrency mining in the US used 50 billion kWh, almost as much as all TVs combined.

They propose a new DAME tax against digital mining in the US

The White House study on the Proposed Digital Asset Mining Energy (DAME) The excise tax cites the graph above to illustrate how much energy mindless effort actually consumes. In addition to using a lot of energy and generating a lot of carbon emissions, cryptocurrency companies can also increase energy costs for ordinary people in the neighborhood. The government believes the tax is necessary for them to extract revenue from "digital assets whose broader social benefits have not yet materialized."

Under the proposal, companies would be subject to a tax equivalent to 30% of the price of the energy they use. The tax would take effect next year and be phased in over three years at a rate of 10% per year to achieve the desired rate of 30% by the end of 2026.

The council said Tuesday that:

Currently, crypto mining companies do not have to pay the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the climate.

The DAME tax motivates companies to begin to better account for the damage they cause to society. According to the council, communities of color and low-income areas are disproportionately affected by pollution that comes from energy production.

A department of the executive office of the president, the Council of Economic Advisers is responsible for providing economic advice to the president.

According to the advice,

The intensive and often unpredictable power consumption of cryptominers can also increase electricity prices for consumers and can increase risks to local power grids, overloading equipment, causing service interruptions, and creating health risks. security.

The following is the graph that shows the electricity consumption of the US, according to the type:

Chart estimates for cryptocurrency mining were made using data on global crypto energy usage and percentage of Bitcoin and Ethereal Mined in the United States until 'The Merge' (opens in a new tab). To be fair, the chart illustrates the range that may be possible for the full figure as an estimate, so it could potentially be as low as 30 billion kWh used (which still puts it above all those computers) or as high as 60 billion kWh.

The maximum then puts it in about the same range as the total power used by all lights in the nation in 2022.
Every item on that list has at least some advantages, whether commercial or just sociological, but none Bitcoin neither Ethereal make up for the damage they do, even if the latter isn't even currently drawn, by no means.

It is unsustainable and, ideally, harsh taxes like the DAME tax will make it unprofitable to create pointless digital assets, putting an end to the sector. Maybe one day he'll prove he's worth all the damage he's caused.

New projects that can improve sustainability

We often hear about the effects of cryptocurrencies on the environment, but rarely about green initiatives in the field of cryptocurrencies. One notable exception is a project that is currently in pre-sale, ecoland.

Ecoterra is a new green cryptocurrency project that aims to take advantage of blockchain technology to encourage people to recycle. Rooted in a desire to save the planet, the project was started to tackle the worsening effects of climate change, encouraging people to take steps like planting trees, managing waste and cleaning up. ecoland aims to eliminate bottlenecks that make people unwilling to take green action by using blockchain technology to not only educate people about green initiatives, but also to incentivize people to recycle.

ecoland is a 'Recycle2Earn' app that has the potential to benefit the environment by rewarding those who recycle with cryptocurrency. The app will feature a marketplace for recycled materials and carbon credits, but how far can this project go? Ecoterra is currently in its pre-sale and is raising funds at a rapid rate.

What are the benefits of Ecoterra?

There are three categories of benefits that ecoland will bring: for individuals, for companies and for everyone.

benefits for individuals

People could use the Ecoterra app to capitalize on their recycling measures and earn ECOTERRA tokens. That will make people feel more rewarded as Ecoterra tokens have more benefits than regular fiat money.

stakeout

People will be able to stake ECOTERRA tokens and earn passive income in the form of APYs generated from income streams.

Purchase of carbon credits

People will have full access to the secondary market through which they can buy carbon credits. Ecoterra is likely to become one of the few ecosystems that will allow people to interact with the carbon credit market, a space that has largely been closed off to corporations.

Access to educational content

Ecoterra's educational content will be different from the standard eco blogs one reads online. It will contain research papers and other media that help people make viable and profitable decisions to improve the environment.

Get NFT Rewards

Those who actively participate in the community will earn NFT rewards. Participating here means adding more content to the educational platform or adding value to them. The more positive activity a person does on the platform, the higher their impact score will be. A higher impact score will make them eligible for NFT rewards.

Visit Ecoterra Presale

Ecoterra Tokenomics

The entire Ecoterra ecosystem is powered by the token of the same name: ECOTERRA. ECOTERRA is an ERC-20 token and from what we have covered so far, it has the potential to be one of the the greenest cryptocurrencies of 2023.

Ecoterra has a very interesting tokenomics. Half of its native token supply has been dedicated to pre-sale, which is 1 billion in total. These have no acquisition requirements.

20% of the tokens have been dedicated to the development of the ecosystem, and it has 500 million dedicated tokens.

10% of the tokens are dedicated to their upcoming crypto exchange listings, 10% is for marketing, 5% has been dedicated to the team, and the remaining 5% is for corporate adoption.

ecoland It's currently available as a multi-stage pre-sale, meaning it has the potential to profit from price appreciation before it's included in Phase 2 of its roadmap. Click the link below to visit the official website for yourself and invest in this green crypto that is likely to grow 10-fold this year.

Visit Ecoterra Presale

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