The Truth about Bitcoin's Energy Use

• 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. 

Positives

• 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.

Additional 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

• 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.
• Other resources related to this topic include Bitcoin Consumes 'More Electricity Than Argentina', China's Bitcoin Mining is Threatening Its Climate Change Targets, Study Says, and The True Cost of Cryptocurrency.
• A lesson plan related to this topic is CryptoClimate: Exploring Cryptocurrency and Climate Change.

This resource addresses the listed standards. To fully meet standards, search for more related resources.