Log scale

Bitcoin is a major phenomenon of out time. There is nothing like very rapid growth to generate excitement.

As is often the case, this linear scale plot obscures rate of change and the small early values. It is worth also looking at a log scale plot.

The early adopters had the best earning potential.

Some people talk about the promise of bitcoin as the new money. Of course this price history shows that it would have been amazingly deflationary. Hardly a good thing.

The price of bitcoin is financial, but its cost is environmental. “Mining” bitcoin takes a huge amount of electricity, and the major mining countries rely heavily on coal fired power plants.

The scale of this electricity consumption can be compared to countries.

The choice of a bar chart is appropriate, as is ordering the countries so that the longest bar is at the bottom, nearest to the scale. The small drop shadows, however, only add blur.

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