Topic: Bitcoin and global warming - page 3. (Read 3019 times)
I think it will reduce global warming ad environmental damage if it is implemented in every where because the current systems make more environmental damage through wastage of electricity and many other ways than Bitcoin and it is the main reason why Bitcoin was invented to make a more sustainable system to do transactions without any obstacles or barriers but with high efficiency and security and it does the job very fine at the moment so I think bitcoin has nothing to do with global warming or any other environmental damage in the world
The greed of miners is causing serious problems for the Earth's climate. The amount of electricity supplied to the mining plant is enormous. We need new solutions to minimize this. Perhaps the plant operators should look for green energy sources to protect the environment and reduce pollution.
Again 1/10th of 1% of the worlds electricity is not something to worry about and is not causing any type of temperature change on this planet.
That's not a low amount when we consider the costs and the effects it can have on environment.
BS what exactly is the effect and cost of 1/10th of 1% of electricity on the planet? Exactly how much does that raise the temperature of the earth by?
You could say it about everything.
Gold mining is causing global warming and is harming environment.
Money printing is causing global warming and is making rain forest to disappear.
...
We would have to go back on the trees.. .
Gold mining is causing global warming and is harming environment.
Money printing is causing global warming and is making rain forest to disappear.
...
We would have to go back on the trees.. .
This is true. Mining is one of the main reason why the earth continuously being in chaos. With this, we can absolutely do some alternatives and instead of using physical form lf money, that cut treea to be created we can use bitcoin instead. And might as well plan on making groups that will restore the environment.
I dont believe bitcoin have big contribution to global warming. Bitcoin electricity only using not more than 4% from total capacity and i am believe many miner using alternative energy that friendly to environment
You are too far away when discussing bitcoin (mining) if it is associated with global warming, how much energy is spent by crypto currency miners? Is it comparable to mining other precious metals? the energy used by bitcoin miners is only a small part
I think that btc and global warming aren't very connected. Sure that after your explanations it is possible to see a certain connection but i think that it is a difficult question and with time we will see what happen
You could say so, but one thing should be highlight is that global warming has been happening long time before Bitcoin or Bitcoin mining existing. So, It is foolish claiming bitcoin causes global warming even though we know that bitcoin mining is consuming much energy of electricity, but it is not the one.
It is possible to direct part of the funds from the Bitcoins turnover to the nature protection fund to address global warming issues.
Yes indeed Bitcoin transactions and mining consume a lot of computing power and electricity, this figure is growing every day. Therefore, depending on how the energy used to power computers is obtained, it can contribute to global warming. But now there are projects with the use of alternative fuels that will not happen to this process.
If in the future the amount of energy that is spent on mining bitcoin will increase tenfold - there may be fears. Now everything is ok
The greed of miners is causing serious problems for the Earth's climate. The amount of electricity supplied to the mining plant is enormous. We need new solutions to minimize this. Perhaps the plant operators should look for green energy sources to protect the environment and reduce pollution.
Again 1/10th of 1% of the worlds electricity is not something to worry about and is not causing any type of temperature change on this planet.
That's not a low amount when we consider the costs and the effects it can have on environment.
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. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
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. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. 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.
The creation of New bitcoin coins is carried out through mining. Cryptocurrency is issued decentralized. Initially, mining was carried out by computing power of ordinary computers, but with the increasing complexity it became impossible. Alleviating the electricity expense should be one of our priorities. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
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. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. 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.
There way worse things playing a much bigger part and factor than mere mining. WOrrying about mining causing global warming is silly. Global warming is caused by fumes being left in the atmosphere and improper dumping methods. Basically, global warming is caused by people who want to save money by dumping their crap wherever they feel like it.
That not true. Newer miners use only a fraction of the electricity older miners used.
The more difficult the bitcoin mining is, the greater machine processing and consequently electricity will be required for the creation of bitcoins and logically this is not favorable for global warming
That not true. Newer miners use only a fraction of the electricity older miners used.
I think that the electricity that is required to mine bitcoin is becoming a climate issue, especially considering the current price of bitcoin. It would hardly be efficient to mine bitcoin, as I imagine electricity costs are probably more than the bitcoin is worth
The more difficult the bitcoin mining is, the greater machine processing and consequently electricity will be required for the creation of bitcoins and logically this is not favorable for global warming
Bitcoin mining uses electricity-producing electricity causes pollution and global warming, just as mining any resource will. The only way to mine bitcoin in an environmentally friendly way is by only using renewable energy. Perhaps someone could do a calculation showing the breakeven point using solar and wind generated electricity ie cost of panels and turbines to power a rig to mine 1 bitcoin
The greed of miners is causing serious problems for the Earth's climate. The amount of electricity supplied to the mining plant is enormous. We need new solutions to minimize this. Perhaps the plant operators should look for green energy sources to protect the environment and reduce pollution.
Again 1/10th of 1% of the worlds electricity is not something to worry about and is not causing any type of temperature change on this planet.
But even taking into account the energy costs of bitcoin mining, it still remains the most profitable coin. The creation of national money also takes material resources and electricity.
I strongly advocate for the abolishment of cryptocurrency mining in general. It contributes to huge consumption of electrical energy and also makes the cost of transactions high compared to fiat and this has been a supporting argument to those who don't crypto.
Bitcoin does consume quite a lot of energy. But I think there are more serious reasons for environmental problems. And you can not blame in the global warming of bitcoin, which was created recently.
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