Topic: Bitcoin and global warming - page 8. (Read 3051 times)
Unfortunately, it seems to be true and mining contributes a great deal to our climate change. But it's not the only factor and I believe the decision-makers around the world are aware of and working on it. At least, I like to think so...
I think that electrical energy is okay if it is used for positive things, if the electrical energy is not used for bitcoin mining, this energy will be used for other things, because the common sipat, for example to support online games that are now crowded. but this is great for anticipating future global warming.
Well the popularity of btc is huge. Lots of person are now involve in btc. I don't think the body temperature of those person won't be a cause of global warming.
Btc and global warming are two different side. Those won't make any difference.
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.
I don’t think that bitcoin has nothing to do with global warming as bitcoin and global warming are entirely two different topics but yes I heard this rumours too about bitcoin then in the coming decade bitcoin is going to use double the amount of electricity as used by the entire world then in turn bitcoin could be responsible for the global warming but I want to say that just once think about this that is it ever possible that bitcoin is consuming that amount of electricity, all I think is that this is a rumour only spread by one of the bitcoin hater. 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.
As far as i know Banking system has a worst impact to the enviroment than Bitcoin
Energy for mining is quite an impact on the environment. So I see there are many mining projects that carry environmentally friendly projects by utilizing a variety of alternative energy.
at this time such a project quite a lot, because at this time the miner was also quite familiar with bitcoin. so the more here the miners will surely be more and more, but such mining is diverse
Mining of bitcoins can accelerate global warming. The central place in the existence of bitcoin is the mining of this crypto currency. To carry out such work requires a large amount of electricity. Most of the electricity is produced by burning coal. As a result of coal combustion, carbon dioxide emissions into the atmosphere increase. This gas is the main factor of global warming.
Maybe. Because each bitcoin transaction requires a tremendous amount of computing power, each Bitcoin transfer uses enough energy to run a comfortable house, and everything in it, for nearly a week. Bitcoin miners worldwide are using about enough electricity to at any given time to power about 2.26 million American homes. Since a good deal of this is coming from burning coal and other fossil fuels, that is a lot of CO2 being put into he air.
I don’t think mining contributes to global warming.
People usually forget the following fact:
"Fiat requires commercial banks, central banks, ATMs, armored cars, hundreds of thousands of employees, among other things to work. The central bank, in this case the FED, does not magically distribute the US dollar to every person in the country at their doorstep."
This is interesting, because even mining methods can be solved to decrease energy consumption. Also blockchain can help at the distribution of renewable energy, using smart contracts. Other applications of blockchain can also contribute for business and generally, to the democratization of the global economy. I see more pros than cons to society, if you balance !
People usually forget the following fact:
"Fiat requires commercial banks, central banks, ATMs, armored cars, hundreds of thousands of employees, among other things to work. The central bank, in this case the FED, does not magically distribute the US dollar to every person in the country at their doorstep."
This is interesting, because even mining methods can be solved to decrease energy consumption. Also blockchain can help at the distribution of renewable energy, using smart contracts. Other applications of blockchain can also contribute for business and generally, to the democratization of the global economy. I see more pros than cons to society, if you balance !
I think the bitcoin can make some CSR so they can help the nature from destruction. It will be helpful.
The craze of btc will surely be the cause of global warming.
Money printing cause global warming. I don't think btc never affect global warming neither.
Energy for mining is quite an impact on the environment. So I see there are many mining projects that carry environmentally friendly projects by utilizing a variety of alternative energy.
I know a blockchain ICO trying to fix the problem of huge electricity demand problem of bitcoin mining. There may be other projects in or out of blockchain trying to solve this problem too. It very likely that these projects will succeed because of the high demand for cheaper source of energy for mining activities.
Bitcoin alone is not responsible for global warming u want to say when mining is doing then electricity consumption harm our environment but only this is not also printing currency,Gold Production,cloth manufacturing and vehicles is also responsible, bitcoin is the future currency and its really helpful for our economy so don't relate bitcoin with global warming.
Yes it is right that bitcoin do not have effect on global warming, bitcoin is only a currency but still in most of the places people do not have any idea about it, i think that very soon bitcoin will become popular and then all the people of the world will start using bitcoin.
I agree that global warming is a very important and dangerous issue. But what about global pollution, rubbish island which is bigger than France. The problem is much more serious that you have described here. It's just a tiny part of the harm we are doing to our planet. You are offering to stop mining and be happy with what we already have. Ok, let's say we are done, no more mining. Do you think it will change the situation? no, it won't. So if we want to save our planet, we need to think globally, forbid plastic, forbid oil mining, forbid the usage of chemicals, forbid forests devastation, forbid killing of animals. But nobody will agree to do this, so we are going to extinct soon. I feel really sorry for what we've done because of our greed and selfishness.
For sure there are many industries that consume much more electricity than the miners, but this can`t resonate the huge consumption of electricity by miners, the solution have to come and there are ways but first the greed must be controlled I beleive.
Bitcoin alone is not responsible for global warming u want to say when mining is doing then electricity consumption harm our environment but only this is not also printing currency,Gold Production,cloth manufacturing and vehicles is also responsible, bitcoin is the future currency and its really helpful for our economy so don't relate bitcoin with global warming.
Do not think narrowly, there are still many causes of global warming which result in greater impact than bitcoin operation. There are many things that we can do to stop globall warmings, we can reduce the usage of paper because many trees are being cut down for that, we can help the earth by reduce the usage of paper by give more support for bitcoin and reduce the usage of paper money.
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