Crypto Climate Crisis

Cryptocurrency

KAHOOT�VERSION

1. Why do most cryptocurrency transactions involve the usage of lots of electricity?

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1. It’s the 1st time money can be sent electronically
2. Computers all over the world process transactions
3. They need to report the data to banks
4. The government wants a copy of every transaction

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

• Why do most cryptocurrency transactions involve the usage of lots of electricity?

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• It’s the 1st time money can be sent electronically
• Computers all over the world process transactions
• They need to report the data to banks
• The government wants a copy of every transaction

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

2. Bitcoin, the world’s 1st and largest cryptocurrency, consumes:

1. the same amount of electricity as America
2. more electricity than America
3. the same amount of electricity as Argentina
4. more electricity than Argentina

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

2. Bitcoin, the world’s 1st and largest cryptocurrency, consumes:

• the same amount of electricity as America
• more electricity than America
• the same amount of electricity as Argentina
• more electricity than Argentina

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

3. Miners want to work in Texas because of low energy costs, but the issue is that:

1. Texas is too hot so the miners keep failing
2. there is not enough space for them to work
3. the Texas power grid is already fragile
4. zero Texans are in support of crypto

CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

3. Miners want to work in Texas because of low energy costs, but the issue is that:

• Texas is too hot so the miners keep failing
• there is not enough space for them to work
• the Texas power grid is already fragile
• zero Texans are in support of crypto

CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

4. Texas spent an extra ____ to increase reserves and to pay crypto miners to drop their energy usage.

1. half a million dollars
2. million dollars
3. billion dollars
4. four billion dollars

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

4. Texas spent an extra ____ to increase reserves and to pay crypto miners to drop their energy usage.

• half a million dollars
• million dollars
• billion dollars
• four billion dollars

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

5. What is one argument that crypto supporters make about the environmental impact of crypto?

1. The impact is not that bad
2. Money matters more than the environment
3. This energy consumption is worth it
4. Crypto is becoming more eco-friendly

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

5. What is one argument that crypto supporters make about the environmental impact of crypto?

• The impact is not that bad
• Money matters more than the environment
• This energy consumption is worth it
• Crypto is becoming more eco-friendly

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

You’ve completed the exercise, now it’s time to learn

more about the current event:

CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

Discussion Prompt:

Do you think the negative environmental impact of cryptocurrencies are worth it? Why or why not?

CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE

Extend Your Learning

Three Relevant Resources from NGPF:

• What is cryptocurrency? (Full Lesson)
• DEBATE: Should You Buy Cryptocurrency? (Activity)
• What percent of global Bitcoin mining occurs in the United States? (Question of the

Day)

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References:

• Texas grid avoids summer blackouts with $1 billion in extra spending (Reuters)
• Texas Crypto-Mining Rush May Need as Much Power as Entire State of NY (Bloomberg)
• Cryptocurrency's Dirty Secret: Energy Consumption (Columbia.edu)
• Ethereum Merge Confirmed for September. What Investors Can Expect (Motley Fool)
• Can the Texas Power Grid Survive the Crypto Mining Boom? (Slate.com)

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CRYPTO CLIMATE CRISIS | SEPTEMBER 2, 2022 EDITION | NEXT GEN PERSONAL FINANCE