This assessment is based on Andrew Sorkin’s press article ’Bitcoin’s Climate Problem’ and will critically evaluate the significance of Bitcoin in the world wide finance sector and how even possible positive impacts on the environment can occur.
This assessment provides an overview of the current challenges for Bitcoin in terms of energy consumption and electronic waste. On the other hand, it takes into account assumptions that energy for Bitcoin mining comes from renewable energy sources. It also explains research gaps that were not collected in Sorkin’s article and this critical review. Finally, Sorkin’s press article is assessed and an outlook is given.
Inhaltsverzeichnis (Table of Contents)
- Abstract
- 1 Introduction and Summary of analysed article
- 1.1 Introduction
- 1.2 Summary of the press article 'Bitcoin's Climate Problem'
- 2 Significance and Importance
- 3 Literature Review
- 3.1 Explanation Bitcoin.
- 3.2 Bitcoin's climate problem
- 3.3 Bitcoin's future energy consumption
- 3.4 Lightning Network
- 4 Research Gap
- 5 Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This assessment critically evaluates Andrew Sorkin's press article 'Bitcoin's Climate Problem', analyzing the significance of Bitcoin in the global finance sector and exploring potential positive environmental impacts. It examines the challenges Bitcoin faces regarding energy consumption and electronic waste, while also considering the possibility of using renewable energy sources for Bitcoin mining.
- The role of Bitcoin in the global financial sector
- The environmental impact of Bitcoin, particularly energy consumption
- The potential for renewable energy in Bitcoin mining
- Research gaps in understanding Bitcoin's environmental impact
- An outlook on the future of Bitcoin
Zusammenfassung der Kapitel (Chapter Summaries)
The first chapter introduces the assessment and provides a summary of Andrew Sorkin's press article "Bitcoin's Climate Problem." Chapter two delves into the significance and importance of Bitcoin in the global finance sector. Chapter three offers a literature review, exploring the workings of Bitcoin, its environmental challenges, future energy consumption predictions, and the potential of the Lightning Network. Chapter four identifies research gaps not addressed in Sorkin's article or this assessment. The conclusion summarizes the findings and provides an outlook on the future of Bitcoin.
Schlüsselwörter (Keywords)
This assessment focuses on the key terms and concepts related to Bitcoin and its environmental impact, including Bitcoin, Proof of Work, energy consumption, and renewable energy.
- Quote paper
- Maximilian Linner (Author), 2021, Critical Evaluation of Andrew Sorkin’s Press Article "Bitcoin’s Climate Problem", Munich, GRIN Verlag, https://www.grin.com/document/1131255
