Best crypto memes of the day – May 18th

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  TL;DR Breakdown Energy consumption in Bitcoin mining remains a critical issue amongst environmentalists and crypto critics. Market analysts point out that the energy consumption of Bitcoin is minuscule compared to that of traditional financial institutions. Bitcoin’s energy consumption is not a problem in and of itself. Rather, the issue is the source of the energy being used. Bitcoin miners are increasingly turning to renewable energy sources such as solar, wind, and hydroelectric power.  At a time when climate change is a pressing concern, energy consumption in Bitcoin Mining has been a topic of heated debate. Detractors argue that the amount of energy consumed in mining Bitcoin is unsustainable and detrimental to the environment. However, some analysts believe that Bitcoin has the potential to catalyze a positive change in the energy sector. The myth of Bitcoin’s energy consumption Firstly, it is important to dispel the myth that Bitcoin is an energy hog. In reality, the energy consumption of Bitcoin is minuscule compared to that of traditional financial institutions. According to a report by the International Energy Agency, the banking system consumes…

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• China launches government-back Metaverse

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• EDCON 2023 emphasizes mass Ethereum Layer 2 adoption – Vitalik Buterin

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• The Summer of Shibarium: A New Era for the SHIB Token

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• Gnosis introduces visa-certified debit card for on-chain wallets

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