There is no problem here with cryptos it is what the media would have you believe. This article below shows your concern but another on their website shows that yes crypto consume a lot of energy but in relation to the general population it is nothing. Idle phones, machines, plug in devices everywhere consume much more electricity but yet this isn't a concern. Basically the media will run with anything that gets a rise out of people and this electricity problem is one of their favorites with cryptos.
http://www.zerohedge.com/news/2017-11-24/will-bitcoin-mining-consume-all-worlds-current-electricity-production-feb-2020
Topic: ✨✨✨ Are we wasting resources to make digital currencies? ✨✨✨ - page 6. (Read 910 times)
The biggest problems I see with mining is that it is a waste of computing power, energy, and labor. We could be using this computing power for AI, exploring space, or solving world problems. Instead we are using up a ton of resources like electricity and producing nothing tangible in return. On the other hand our current banking system does use up a lot of resources to produce and maintain currency. I just wish there was a way to be more planet friendly when producing a digital currency.
It appears that mining costs and the creation of crypto currencies consumes a lot of resources 
We have very little resources remaining in the world for each other and future generations. Does it make sense to waste resources like this? Could we do this in a cheaper and more economically friendly manner? And does the value of bitcoin directly correlate to the amount of resources and man hours that are destroyed in order to create it?
We have very little resources remaining in the world for each other and future generations. Does it make sense to waste resources like this? Could we do this in a cheaper and more economically friendly manner? And does the value of bitcoin directly correlate to the amount of resources and man hours that are destroyed in order to create it?
Jump to: