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This video from Grist explains bitcoin, blockchains, and the energy use involved in cryptocurrency transactions.
Students will learn how decentralized transactions work, how bitcoins get mined, the electricity used in these processes, possible solutions, and the counterarguments bitcoin supporters might have.
It uses visuals and simple vocabulary to explain what might otherwise be a confusing subject matter.
It demonstrates a conversation for and against bitcoin's energy consumption using different perspectives and counterarguments.
Prerequisites
Students should have a basic understanding of supply and demand.
Students should understand why diverging from fossil fuel energy consumption is more sustainable.
There is a pop-up ad during the video.
Differentiation & Implementation
Economics classes can analyze the conversation about bitcoin possibly accelerating the transition to more renewable energy sources, and then determine the validity of that perspective.
Students can research and compare bitcoin's electricity use to other major consumers or sectors.
The description links to their sources for further context.
