But the problem here is that bitcoin could be mined with less energy consumption for the same result.
You cannot compare industry that produce product for real world that need energy to be produce (even if there is more green way to produce it) to bitcoin that produce wealth virtually.
Bitcoin increased mining difficulty over time is a bad way of doing it, energitically speaking.
Topic: Bitcoin and global warming - page 12. (Read 3019 times)
With bitcoin and climate change the main issues are #1 emissions and #2 carbon sequestration.
There has been a shift towards so called renewable energy which is promoted as being environmentally friendly. This negates bitcoin's electrical consumption to a good degree.
The main issue with climate change involves 80% of the world's natural forests being cut down. Trees naturally store (sequester) carbon. The destruction of forests reduces the planet's ability to store carbon emitted into the atmosphere.
Another major issue is a large percentage of rainfall being produced by forests. Water is pulled from the earth and evaporated through the leaves of trees/plants. This produces rainfall. Cutting down large swaths of forest reduces water which would normally be evaporated which in turn produces drought.
The only legitimate methods of addressing climate change are afforestation programs. Seed bombing. Fighting desertification. Basically planting trees and protecting rain forests.
There has been a shift towards so called renewable energy which is promoted as being environmentally friendly. This negates bitcoin's electrical consumption to a good degree.
The main issue with climate change involves 80% of the world's natural forests being cut down. Trees naturally store (sequester) carbon. The destruction of forests reduces the planet's ability to store carbon emitted into the atmosphere.
Another major issue is a large percentage of rainfall being produced by forests. Water is pulled from the earth and evaporated through the leaves of trees/plants. This produces rainfall. Cutting down large swaths of forest reduces water which would normally be evaporated which in turn produces drought.
The only legitimate methods of addressing climate change are afforestation programs. Seed bombing. Fighting desertification. Basically planting trees and protecting rain forests.
oh man. glad to read that.
you know every people make global warming, like when i online via handphone and my handphone warm up. it make global warming.
i think they are not related one of other thing. except if you mining bitcoin with smoked stuff
you know every people make global warming, like when i online via handphone and my handphone warm up. it make global warming.
i think they are not related one of other thing. except if you mining bitcoin with smoked stuff
In any form of industry contributes global warming as it consumes more heat, more fuel and more electricity consumption. From mining, manufacturing, oil exploration, medical, agricultural, space, military, car and vehicle industry these are the greater contributor to global warming. Bitcoin industry is just a minimal contribution it might be negligible of about 1 percent i guess.
Bitcoin mining is really contributing in the global warming but as others are saying even banks are doing the same maybe when the time comes that bitcoin replaced the currency fiat system then it will be an acceptable use of energy and contribution to the global warming.
I think its very minimal or even neglectable to what really affects global.warming on a major scale. He focus should be in a more bigger scale and mining btc is the least among those.
Yeah it should be low respectively to the other projects using electricity. Bitcoin's production is not that huge and don't consume that much electricity. Think about giant oil production points, they consume tons of electricity.
Bitcoin is still environmental friendly.
That's not exactly true. Bitcoin's energy consumption has gone above some countries. Granted, these countries are more on the underdeveloped side, but its consumption is growing steadily, and it may come to a point that it can't be ignored anymore.
Bitcoin mining is really contributing in the global warming but as others are saying even banks are doing the same maybe when the time comes that bitcoin replaced the currency fiat system then it will be an acceptable use of energy and contribution to the global warming.
I think its very minimal or even neglectable to what really affects global.warming on a major scale. He focus should be in a more bigger scale and mining btc is the least among those.
Yeah it should be low respectively to the other projects using electricity. Bitcoin's production is not that huge and don't consume that much electricity. Think about giant oil production points, they consume tons of electricity.
Bitcoin is still environmental friendly.
you can get electricity from renewable sources or not ...
Bitcoin mining is really contributing in the global warming but as others are saying even banks are doing the same maybe when the time comes that bitcoin replaced the currency fiat system then it will be an acceptable use of energy and contribution to the global warming.
I think its very minimal or even neglectable to what really affects global.warming on a major scale. He focus should be in a more bigger scale and mining btc is the least among those.
Yeah it should be low respectively to the other projects using electricity. Bitcoin's production is not that huge and don't consume that much electricity. Think about giant oil production points, they consume tons of electricity.
Bitcoin is still environmental friendly.
It's true that a good amount of electricity is being used just by running mining hardware/rigs. But I think this is really irrelevant overall, knowing that there are power plants and other stuff out there that consumes a hundred-fold more electricity compared to GPUs and ASICs.
Yes, the electricity consumption is truly a big factor that might contribute at least a small portion to the global warming. Maybe in the future electricity for the usage of mining might be produced from renewable energy sources which will not affect the environment to higher extent.
electricity wastage is not that big stake ... plastic industry for instance have much more social debit I guess
I think you are right at this point but there nothing much we can do that easily. People are filled with the greed of earning big money and they will never stop the mining operation because the whole crypto currency will get disturbed like that. There won’t be any easier way to do the transaction if this stops and the electricity will still be needed today or after a decade from now.
There is option of using the solar energy but as we know our miners are real monsters and they can’t get feed on the solar panels as they are very very weak in this regard providing the sufficient electricity. Well lets see where this matter goes in the future and hopefully this will get solved soon. Otherwise the operations for mining will stop surely.
It's true that a good amount of electricity is being used just by running mining hardware/rigs. But I think this is really irrelevant overall, knowing that there are power plants and other stuff out there that consumes a hundred-fold more electricity compared to GPUs and ASICs.
I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
You can compare it to a bunch of vehicles that produce polluted smoke to big factories that contributes the biggest volume of waste and pollution on earth thus Government doesn't take a precautionary action against them because it produces money for them.Some solutions exist though: first there is proof-of-stake, of course. This technology may be too young to be deemed reliable enough but we should at least start considering it.
If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only.
That's correct one of the alternative ways is POS that can be more cost-effective and can save a bunch of energy to prevent more pollution but the idea of stopping monetary creation can bring chaos to a country as the majority of firms are dependent by this system. If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only.
Bitcoin mining is really contributing in the global warming but as others are saying even banks are doing the same maybe when the time comes that bitcoin replaced the currency fiat system then it will be an acceptable use of energy and contribution to the global warming.
I think its very minimal or even neglectable to what really affects global.warming on a major scale. He focus should be in a more bigger scale and mining btc is the least among those.
Indeed bitcoin mining have a quite small impact compared to the industry and the fossil energy used on the whole world. But it's not negligible neither.
In 2017 Bitcoin mining seems to have consumed around 30 TwH of electricity : https://digiconomist.net/bitcoin-energy-consumption
This consumption is superior to the consumption of electricity in small country like oman / nigeria....
So it's not really negligible!
This electricity could roughly power up more than 2 million households on the US!!
the ratio cost of electricity used for mining / profit of mining is around 5!!
There have to be solution to tend to a decentralized crypto but with some energy efficiency and green concept behind it.
In 2017 Bitcoin mining seems to have consumed around 30 TwH of electricity : https://digiconomist.net/bitcoin-energy-consumption
This consumption is superior to the consumption of electricity in small country like oman / nigeria....
So it's not really negligible!
This electricity could roughly power up more than 2 million households on the US!!
the ratio cost of electricity used for mining / profit of mining is around 5!!
There have to be solution to tend to a decentralized crypto but with some energy efficiency and green concept behind it.
I think this will happen in the future. Many people will race to get bitcoin. with a high value. Bitcoins are mined in various forms. This is also a good opportunity for criminals to steal fraud. This is not just a matter of a country but of the world.
I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Unfortunately, anthropogenic climate disaster is based on bad science, deviously fabricated by corrupt scientists and (bug surprise) the world's most honest profession; politicians.
It's not a scientific movement, it's a religion. Because the people involved do the precise same thing that religious zealots/fundamentalists do; when their beliefs are questioned with rationality or empirical evidence, climate disaster believers simply attack the person saying it. Which is not science.
The "End of the World" has been predicted by charlatans selling something fake to foolish adherents since time immemorial. For some strange reason, these people never go out of business
I do agree with you. It is not right to make only bitcoin responsible for the global warming or the electricity consumption on large scale. Production industries, heavy engineering industries and chemical factories contributes a larger chunk of green house gas emission. Also in the developing countries like China, India and Brazil, a lot of factories are running without proper environmental norms or any proper equipment to filter the polluted air. This kind of factories contribute more in the global warming.
Also it is easy for a miner to move to a different source of energy by investing in solar panels. And most of the miners will have to do it within next few years because global electricity market is becoming costlier day by day considering the depleting natural resources like coal, which is used by all thermal power plants. Installing solar panels would be costlier initially, but it will increase the profitability of the mining for sure.
Bitcoin mining is really contributing in the global warming but as others are saying even banks are doing the same maybe when the time comes that bitcoin replaced the currency fiat system then it will be an acceptable use of energy and contribution to the global warming.
I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
I think mining cryptocurrency activity is still not comparable with carbon monoxide gas from motor vehicles, greenhouse effect, forest destruction, industrial electricity usage etc.
1. I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Alleviating the electricity expense should be one of our priorities.
....
2 .To make miners agree with that solution, they must be compensated for their lost income. More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
Alleviating the electricity expense should be one of our priorities.
....
2 .To make miners agree with that solution, they must be compensated for their lost income. More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
1. Not even close. If you compare bitcoin mining to the electric consumption for the biggest malls in China you will be amazed how puny the numbers behind bitcoin mining are. If you're going to compare the pollution and add naval shipment in the equation you will find out that bitcoin is the LAST of our problems.
2. Involvement in the distribution of the future bitcoins would mean we have yet again come closer to a centralized coin where somebody is taking decisions as he sees fit.
3. What have you done yourself to save the Earth?
I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Unfortunately, anthropogenic climate disaster is based on bad science, deviously fabricated by corrupt scientists and (bug surprise) the world's most honest profession; politicians.
It's not a scientific movement, it's a religion. Because the people involved do the precise same thing that religious zealots/fundamentalists do; when their beliefs are questioned with rationality or empirical evidence, climate disaster believers simply attack the person saying it. Which is not science.
The "End of the World" has been predicted by charlatans selling something fake to foolish adherents since time immemorial. For some strange reason, these people never go out of business
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