Cryptoplanet - an initiative of the Long Future Foundation - seeks to understand the sustainability of cryptocurrencies and blockchain technology.

If you want to know how to get involved with cryptocurrency and blockchain without having a negative impact on the planet, Cryptoplanet is a key resource.

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Where it all began...

In December, 2013, Long Future Executive Director Guy Lane first discovered and wrote about the terrifying carbon problem associated with cryptocurrencies based on Proof of Work, in particular Bitcoin. Since then, his findings have been confirmed by others. Read the first ever news report on Bitcoin's terrifying carbon problem.

New data confirms the theory that Bitcoin could consume all the world's electricity.
The graph is from Power Compare.

"One would think that Bitcoin had been designed by a race of beings that lived in an orbiting space station powered by fusion reactors. Proof of Work cryptocurrencies have no place on a planet with a biosphere. With that said, some of the cryptocurrencies that use different proofs could prove to be very valuable for the transition to a sustainable economy. Cryptosustainability really is a very important field of enquiry."

Guy Lane, Executive Director, The Long Future Foundation.

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Cryptocurrency & Sustainability Report

Where it all began.

In 2013, Long Future Executive Director, Guy Lane, researched and identified the scale of Bitcoin's energy and carbon problem. Read the original thesis that first identified Bitcoin's terrifying carbon problem, and read the very first news media report on the subject.

Bitcoin Mining Energy Calculator

This calculator allows you to enter in various parameters to get an estimate of the total carbon footprint of the Bitcoin mining network. Obviously, this is a simple model that describes a complex system, so the results should not be taken literally. Rather the output shows the scale of Bitcoin's energy problem.

		($) Value of a single Bitcoin
		Bitcoins produced globally per day
		(%) Proportion of Bitcoin value spent on electricity
		($) Price of one kWh of electricity
		($) Value of electricity consumed per Bitcoin
	20	kWh per dollar spent
	10,000,000	kWh per coin
	10,000	MWh per coin
	10	GWh per coin
	0.01	TWh per coin
	13,140	TWh per annum consumed by bitcoin mining network
	25,000	TWh per annum 2016 global electricity production
	57.9	% of global electricity supply equivalent
Reset

Another version of the Bitcoin Mining energy calculator.

Click image to download .xls spreadsheet.

This is an .xls spreadsheet that you can adjust the figures.

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The Bitcoin Proof of Work and Difficulty Planetary Death Spiral

The diagram shows that increasing the efficiency of Bitcoin mining rigs does not reduce the carbon footprint of the Bitcoin mining network.

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How is sustainability defined?

Long Future uses the Planetary Boundaries model as a frame of reference for conversations about sustianability. Of the nine Planetary Boundaries, four have already been exceeded, including the two core boundaries, Biodiversity and Climate Change. The energy intensity of the cryptocurrency mining networks exacerbates Climate Change and Ocean Acidification through the CO2 released from burning coal, which in turn pressures Biodiversity.

Learn more about Planetary Boundaries at the Stockholm Resilience Centre.

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