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Topic: [2021-05-08] Bitcoin’s dirty little secret: It’s not easy being green (Read 237 times)

legendary
Activity: 3542
Merit: 1965
Leading Crypto Sports Betting & Casino Platform
It must be nice to just cherry pick information to serve a specific agenda ... and in this case, a single Chinese mining operation near a Coal energy plant are used, but what they do not tell you is that China is the worlds largest producer of hydro power in the world and that many of the large Bitcoin mining farms are also strategically situated near these plants.

Source : https://www.statista.com/statistics/265570/top-countries-by-hydropower-consumption/

So let's give all the information when we talk about power usage for mining and the FUD that are being distributed by poorly researched articles that are posted by mainstream media with hidden agendas.  Roll Eyes
full member
Activity: 490
Merit: 101
FRX: Ferocious Alpha
When you own a medium-sized or large-scale production, you perfectly understand what the idea of ​​green technologies and green energy is nothing more than a simple deception. You can fantasize as much as you like on the topic of such an economy of the future, but when it comes down to reality and facts, then your opinion should change. All these technologies, in terms of their efficiency, cannot be compared with the generation provided by existing "dirty" energy resources. It's time to admit that our entire civilization works and lives at the expense of this "dirt".
legendary
Activity: 4256
Merit: 1313
The problem here is that everyone can choose the green method but won't use it because it won't give benefit to them. They rather choose the dirty cheap method that would somehow going to affect the climate change. To cut it short, people like these doesn't really care about the environment neither the climate effect of what they were doing. It's like if the other countries can use why can't we can and the process of destroying earth is still going on. They only care about what could benefit to them despite the fact that they were slowly destroying the environment. Bitcoin has nothing to do with this crap since we all have a choice what power source we should use.

The thing is that much (I don't think that it has been quantified) of bitcoin mining is mined using spare power - e.g. power that would otherwise be dumped.  E.g. a hydropower station might produce X, but only uses .9X much of the time so that extra 10% would just be lost or wasted, not stored.  

So there are plenty of either intentional falsehoods because people don't want bitcoin to succeed because it will remove some of their power or there are people aren't fully informed who are reposting inaccurate information.

(Proof of) Work provides security to the blockchain.  If you compare, say, the total cost and total carbon footprint of the requirements needed to secure the Euro, the Dollar, the Yuan, or Ruble, you would find that they each vastly dwarf bitcoin.  What is needed to secure the US, China, Europe or Russia and hence their currencies?   (See e.g. nothing at stake etc).  Physically printing currency or electronically creating it is not the only cost.  Without the ability to protect itself any of these places would be overrun and the currency - since all are fiat - would become worthless.
sr. member
Activity: 658
Merit: 251
Hopefully the evil genius didn't make the decision to stop using bitcoins when buying his cars because of this article! In general, I'm wondering if Elon Musk didn't know how the cryptocurrency is mined and the inspiration came to him now? In my opinion, it was clear from the very beginning that with an exponential growth of production and the production capacities themselves, this would require more and more energy? In general, he has an interesting understanding of how production works and where does the generation of electricity come from ?! Smiley
hv_
legendary
Activity: 2534
Merit: 1055
Clean Code and Scale
hero member
Activity: 3024
Merit: 745
🌀 Cosmic Casino
I think fans of green ideas should pay more attention to powerful energy companies that spill oil, burn coal and other toxic industries that really and objectively spoil the air for all of us and poison the environment. It would also be nice to remind the Japanese that pouring toxic water from their damaged station is bad, and of course remember about cutting down green forests and draining rivers and lakes! What does bitcoin and its mining have to do with it? Do they really think that even if these capacities are stopped, they will not immediately be used for some other needs? This is logical. In my opinion, all these green activists are just crooks who fulfill someone's orders.
That's it. They always put that blame to bitcoin that consumes a lot of energy but ever since bitcoin was made and launched, there has been an enormous energy consumption from the different industries and they don't have anything to say with it.
The media is even putting all the highlight on it to brainwash the people that bitcoin is doing no good because it affects the environment as if it's the only one that consumes too much energy for its operations.
full member
Activity: 490
Merit: 101
FRX: Ferocious Alpha
I think fans of green ideas should pay more attention to powerful energy companies that spill oil, burn coal and other toxic industries that really and objectively spoil the air for all of us and poison the environment. It would also be nice to remind the Japanese that pouring toxic water from their damaged station is bad, and of course remember about cutting down green forests and draining rivers and lakes! What does bitcoin and its mining have to do with it? Do they really think that even if these capacities are stopped, they will not immediately be used for some other needs? This is logical. In my opinion, all these green activists are just crooks who fulfill someone's orders.
hv_
legendary
Activity: 2534
Merit: 1055
Clean Code and Scale
Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable

I am supportive of the people who want bitcoin as a form of digital cash, however, it cannot be because of its monetary policy. Everyone should accept that it is a great success as a form of speculative investment and asset for value growth during bull markets.

There was one small line of code Satoshi was told to inject - and had beed set to get phased out later: max_block_size - a capacity (limiting) parameter

That's just not needed at all, but still cripples btc - not bsv

It just makes Bitcoin fully efficient - and nobody would argue about energy any more

I was talking about bitcoin’s monetary policy. The size of the blocks is only a small part of why bitcoin is being used substantially as a speculative investment than a real currency.

Wei Dai has written about this on 2013.

https://www.lesswrong.com/posts/P9jggxRZTMJcjnaPw/bitcoins-are-not-digital-greenbacks

Also, BSV is a scam and you are being annoying. Stop mentioning this in discussions.

BSV is just clean refactorerd Bitcoin - worth mentioning - but also sustainable cause it scales

Not scaling is the dirty part - as well as the try to censor
legendary
Activity: 3122
Merit: 1492
Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable

I am supportive of the people who want bitcoin as a form of digital cash, however, it cannot be because of its monetary policy. Everyone should accept that it is a great success as a form of speculative investment and asset for value growth during bull markets.

There was one small line of code Satoshi was told to inject - and had beed set to get phased out later: max_block_size - a capacity (limiting) parameter

That's just not needed at all, but still cripples btc - not bsv

It just makes Bitcoin fully efficient - and nobody would argue about energy any more

I was talking about bitcoin’s monetary policy. The size of the blocks is only a small part of why bitcoin is being used substantially as a speculative investment than a real currency.

Wei Dai has written about this on 2013.

https://www.lesswrong.com/posts/P9jggxRZTMJcjnaPw/bitcoins-are-not-digital-greenbacks

Also, BSV is a scam and you are being annoying. Stop mentioning this in discussions.
sr. member
Activity: 2506
Merit: 368
The problem here is that everyone can choose the green method but won't use it because it won't give benefit to them. They rather choose the dirty cheap method that would somehow going to affect the climate change. To cut it short, people like these doesn't really care about the environment neither the climate effect of what they were doing. It's like if the other countries can use why can't we can and the process of destroying earth is still going on. They only care about what could benefit to them despite the fact that they were slowly destroying the environment. Bitcoin has nothing to do with this crap since we all have a choice what power source we should use.
hero member
Activity: 3024
Merit: 745
🌀 Cosmic Casino
A never ending attack about energy consumption through mining. But how about those factories and manufacturers that are not even disciplined to put their waste product floating on the rivers and just throwing it on a dump site.
There's also renewable energy which I think is being used by most of the mining farms.
sr. member
Activity: 2464
Merit: 252
The green brainwashing propaganda is becoming harder and harder to fight. We should not be using any form of energy as across the whole value chain our carbon footprint is massive. So what?
Miners are free to choose whichever energy they want to use and those power plants are NOT intended for bitcoin mining only.
Go blame China, Australia (73% coal!!!), US etc. and all the other coal-dependent energy users.
https://bettermeetsreality.com/energy-sources-energy-mix-by-country-where-major-countries-in-the-world-get-their-energy-from/
It's right. If power plants on coal, fuel oil, and so on continue to operate, then the consumers of such energy will in any case, and one should not blame the consumers, but the organizers of such uneconomical energy production, which brings great benefits to the environment. And the organizers are the states and their governments, which raise a false problem with the extraction of cryptocurrency.
Now many states are planning to gradually abandon coal, gas and oil as direct sources of energy and to introduce renewable energy sources as quickly as possible, and above all solar and wind. Therefore, I see no reason for this panic.
legendary
Activity: 3234
Merit: 1130
Leading Crypto Sports Betting & Casino Platform
It is useless to argue about this when we know that the culprit is not bitcoin. before bitcoin existed, there was already pollution, these coal plants already existed. we can't be blaming bitcoin when it didn't even create a coal plant, the people who created the coal plants are the people and they created it long before bitcoin dreamed it would exist. My advice: let's fight for green energy without unfairly labeling bitcoin as the culprit of something that has never been. it reminds me that people build supermarkets, basketball courts, very tall buildings and then build nuclear power plants to have electricity.
hv_
legendary
Activity: 2534
Merit: 1055
Clean Code and Scale
Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable

I am supportive of the people who want bitcoin as a form of digital cash, however, it cannot be because of its monetary policy. Everyone should accept that it is a great success as a form of speculative investment and asset for value growth during bull markets.

There was one small line of code Satoshi was told to inject - and had beed set to get phased out later: max_block_size - a capacity (limiting) parameter

That's just not needed at all, but still cripples btc - not bsv

It just makes Bitcoin fully efficient - and nobody would argue about energy any more
hero member
Activity: 3192
Merit: 939
Quote
One thing everyone agrees on is that it has become a staggering consumer of energy and producer of climate wrecking carbon dioxide. Debate between its champions and detractors grows with its price and value, intensified by accelerating global efforts to tackle climate change.

CLIMATE WRECKING CARBON DIOXIDE?!?
Plants need carbon dioxide in order to survive.The article author should go back to school and learn biology.
This is some stupid "save the planet"/Greta Thunberg type of preaching.As if many other industries aren't using energy produced by burning coal and polluting the environment.Bitcoin mining should be blamed for all the pollution I guess. Angry
This article is just explaining common sense-it's not easy to be green,since green energy is more expensive.
It's no "dirty little secret" that miners are using "dirty" electricity,but this is temporary and it will change in the future.

 
legendary
Activity: 3122
Merit: 1492
Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable

I am supportive of the people who want bitcoin as a form of digital cash, however, it cannot be because of its monetary policy. Everyone should accept that it is a great success as a form of speculative investment and asset for value growth during bull markets.
legendary
Activity: 3094
Merit: 1127
If we change the energy source for electricity then we can probably shift the energy consumption narrative that has been plaguing bitcoin. The problem that we are currently facing is that it's not that difficult how to go green but the fact that companies that won't benefit from going green is stopping it from happening.

However, a serious change in the energy sources needs billions in costs, a sacrfice of billions in profit and also a shift on who becomes the leader in this industry. This problem has been plaguing the world before bitcoin. Elon Musk has said in one interview that if given the choice to shutdown fossil fuel power stations, he would say no because it would kill industries in the world economy.

If government and big companies wanted this problem to be solved, this certainly would have been solved already.
It would surely kill those big companies that had been running off through ages but literally shutting off oil/fossil fuel power stations etc. would really be giving out significant impact and as you say that this kind of problem had already been existing before bitcoin exist but somehow its existence did really add up more in terms of this manner but actually it is just really on miners choice which same said above
but its no brainer that they would really be choosing into something which is less hassle and bit more accessible than into those green energy which we know that you would
need that big budget or doesnt really cost that cheap.
sr. member
Activity: 658
Merit: 251
It seems to me how very foolish to blame bitcoin for global warming. After the events in Japan, European countries massively turned off their essentially environmentally friendly nuclear power plants and switched to completely non-environmentally friendly alternatives. Even the noise that we see from the Nord Stream 2 is ecologically stupid. Since gas turbine power plants are one of the cleanest generating plants. It is all the fault of the politicians who instill their ideas because of competition and no one wants to hear the voice of reason. But I think as a result everyone will come to a normal solution to the problem. Bitcoin has nothing to do with it!
hv_
legendary
Activity: 2534
Merit: 1055
Clean Code and Scale
Only if ppl use Bitcoin for all sorts of electronic interactions of value - Bitcoin is sustainable
legendary
Activity: 2464
Merit: 1387
Ah the green energy and Bitcoin mining polluters debate, its been going on for ages
and will continue until mining is totally green, thats going to take some time, just like
all other aspects of energy consumption.

Transportation is moving slowly, HGV's are still using Diesel, passenger cars are
moving slowly to electric, there is a limitation to supply in lithium for batteries.
Older housing stock is still using fossil fuels for heating, retro fitting these with
green energy is a slow process.

....same applies to Bitcoin mining, its a slow process.
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