Alex de Vries

Alex de Vries
Vrije Universiteit Amsterdam | VU · Department of Economics

Master of Economics and Business

About

10
Publications
41,098
Reads
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522
Citations
Introduction
Exposing the unintended consequences of digital trends.
Education
September 2010 - September 2011
Erasmus University Rotterdam
Field of study
  • Financial Economics
September 2006 - September 2010
Hogeschool Rotterdam
Field of study
  • Business Administration

Publications

Publications (10)
Article
In the Spring of 2021, the mining crackdown in China shook up global Bitcoin mining activity. We show that this crackdown may have reduced the use of renewable electricity sources for Bitcoin Mining, resulting in increased carbon intensity of mining activities. We estimate that Bitcoin mining may be responsible for 65.4 MtCO2 annually, which is com...
Article
The rate of adoption of some cryptocurrencies is triggering alarm from energy researchers and social scientists concerned about the industry’s growing environmental and social impacts. In this paper we argue that the unsustainable trajectory of some cryptocurrencies disproportionately impacts poor and vulnerable communities where cryptocurrency pro...
Article
Bitcoin’s increasing energy consumption has triggered a passionate debate about the sustainability of the digital currency. And yet, most studies have thus far ignored that Bitcoin miners cycle through a growing amount of short-lived hardware that could exacerbate the growth in global electronic waste. E-waste represents a growing threat to our env...
Article
The digital currency Bitcoin is known for its energy hunger and associated carbon footprint. Investors, how-ever, must not neglect further environmental, social, and governance issues related to digital currencies. Therefore, we urge the adoption of a more comprehensive view in assessing the externalities of investments in Bitcoin and other cryptoc...
Article
Full-text available
As the price of Bitcoin rises, the negatively externalities associated with Bitcoin mining increase in kind. This article shows how a simple economic model may be used to estimate the potential environmental impact of Bitcoin mining for a given Bitcoin price. These estimates reveal that the record-breaking surge in Bitcoin price at the start of 202...
Article
As the resource intensity of running Bitcoin has increased over recent years, it has become a serious concern for its potential impact on health and climate. Within this context, there exists a growing need for accurate information. Various organizations need this for multiple purposes like properly assessing the urgency of the problem, implementin...
Article
In this paper we find that the Bitcoin network, with an electrical energy footprint of 491.4 to 765.4 kWh per transaction on average, is relatively much more energy-hungry than the traditional financial system. Even though it has been argued that renewable energy may help mitigating the environmental impact of this, we find that there exist fundame...
Article
Full-text available
The electricity that is expended in the process of mining Bitcoin has become a topic of heavy debate over the past few years. It is a process that makes Bitcoin extremely energy-hungry by design, as the currency requires a huge amount of hash calculations for its ultimate goal of processing financial transactions without intermediaries (peer-to-pee...

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Projects

Project (1)
Project
To provide insight into, and raise awareness on, the impact Bitcoin's built-in mining mechanism (Proof-of-Work) has on the environment.