Topic: Bitcoin and global warming - page 9. (Read 3019 times)
I only know that for mining bitcoin, it uses electricity which will be gone in the future so we need to search another energy to still mining bitcoin and the other coins. and I am sure that we can solve this problem so we can reduce global warming and we can still continue to mining bitcoin until the last bitcoin which need more than 50 years. but this is only for the biggest mining company that needs another energy and meanwhile, the rest of the people don't have to worry about this and they can do another thing in their daily life.
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.
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 dont think bitcoin mining will bring a massive impact of our climate. Bitcoin mining only cost electricity and produce heat.
If you compare it with fiat money production, they have more waste product than bitcoin.
Proof of stake is good, but i still prefer with proof of work because it is using external resources.
Money printing causes global warming and makes rain forests disappear. You could be right that the process of making fiat and gold harm the environment but if we adjust the billing system to digitized forms, this will create turmoil in the economies of those countries. world.
I think the bitcoin can make some CSR or known as customer service relationship,
helping the nature by itself to recover from continuous destruction is a big thing not just for you but for the entire world
helping the nature by itself to recover from continuous destruction is a big thing not just for you but for the entire world
It's going probably to be the first currency with customer support.
So who is going to employ these guys answering the phones? Satoshi?
we need to care about the environment too. It would make most sense to use green sources of energy for bitcoin mining instead of some coal burnt electricity and similar sources...
Energy consumption is a zero game.
If somebody burns green energy then somebody else must burn "dirty" energy as coal or oil or nuclear.
If you add a consumer and you don't increase production in green energy then it's going to be bad.
And nobody can decide what kind of energy you use if you're connected to the grid, even if you're 25 km away from a hydroelectric plant you might get the energy that was produced by a coal plant.
Beside that, miner can use renewable energy that not affecting on global warming
Yeah, the lie of the century.
I think the bitcoin can make some CSR or known as customer service relationship,
helping the nature by itself to recover from continuous destruction is a big thing not just for you but for the entire world
helping the nature by itself to recover from continuous destruction is a big thing not just for you but for the entire world
we need to care about the environment too. It would make most sense to use green sources of energy for bitcoin mining instead of some coal burnt electricity and similar sources...
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.
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.
Hi there benjiw! Yes indeed, mining bitcoin need a lot of power or energy which mostly came from a diesel power plant. Other have utilized nuclear power plant which is also hazardous to the environment. But recently there are a lot of miners that are transitioning from coal, diesel or nuc to a renewable energy. I am talking about the solar and wind energy. The initial investment could be much higher than the common source or electricity but it would be more rewarding after three or four years. Those miners who use renewable energy could have much higher income compared to those who are on the grid. Additionally, those miners help to prevent global warming.
Renewable energy sources can be a solution
And Most of the advanced countries are already moving towards renewable sources of energy. To fuel the energy need for cryptocurrency mining, renewable sources of energy may not be highly reliable because of the following drawbacks they have:
• Bigger infrastructure
• Not as efficient as fossil fuels in energy production
• Getting 100 % efficiency can be challenging
• Always reliable on weather conditions and other natural phenomenon
• They are inconsistent and difficult to predict in terms of output
If the above mentioned problems are sorted, then we will be able to make use of renewable resources to mine cryptocurrencies. I personally believe that cryptocurrencies and blockchain technology is going to be future for all the sectors in the world. It will be great if we be little more responsible and look for a solution to handle the energy, climate and global warming issues.
And Most of the advanced countries are already moving towards renewable sources of energy. To fuel the energy need for cryptocurrency mining, renewable sources of energy may not be highly reliable because of the following drawbacks they have:
• Bigger infrastructure
• Not as efficient as fossil fuels in energy production
• Getting 100 % efficiency can be challenging
• Always reliable on weather conditions and other natural phenomenon
• They are inconsistent and difficult to predict in terms of output
If the above mentioned problems are sorted, then we will be able to make use of renewable resources to mine cryptocurrencies. I personally believe that cryptocurrencies and blockchain technology is going to be future for all the sectors in the world. It will be great if we be little more responsible and look for a solution to handle the energy, climate and global warming issues.
Bitcoin mining uses a lot of mining hardware and they required electricity so global warming increases. And also the competition of bitcoin mining or altcoin mining increase difficulty it"s also increases global warming.
The BTC is heating up, and it has a strong legal base. Bitcoin has led to an increase in demand for electricity, which generates heat, which in turn affects global warming. It has recently been discovered that the energy used by bitcoin miners is equivalent to 150 user countries, and such energy consumption is likely to lead to harmful effects on the environment.
Bitcoin is a famous cryptocurrency. other currency of the price rise to get out of bitcoin of on depends by. because bitcoin all at the top of a coin. global warming is every day world in a lot of the part of carbon dioxide of creation is with, and a lot of harmful gas. and the due to the global warming the dimensions of the leads.
On the example of China, you can see how mining bitcoin can damage the global ecology. Now more than 60% of all computer technology in China is used in the production of bitcoins. In this country, 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. Accordingly, the increase in electricity consumption by the miners can lead to an increase in electricity generation by burning coal in China, which provokes negative environmental changes.
As a result of coal combustion, carbon dioxide emissions into the atmosphere increase. This gas is the main factor of global warming. Accordingly, the increase in electricity consumption by the miners can lead to an increase in electricity generation by burning coal in China, which provokes negative environmental changes.
I think the bitcoin can make some CSR or known as customer service relationship,
helping the nature by itself to recover from continuous destruction is a big thing not just for you but for the entire world
helping the nature by itself to recover from continuous destruction is a big thing not just for you but for the entire world
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.
Bitcoin mining need huge electricity. But i dont think that will affecting on global warming because the capacity is smaller than manufacture. Beside that, miner can use renewable energy that not affecting on global warming
Electricity is not the main reason why there are forms of global warming, mining industry of bitcoin or in cryptocurrency are only a business that naturally used high electricity usage but it doesn't mean that it can cause global warming, the causes of global warming are those big plantation with excessive black smoke that causes high poluted air and destructed the ozone layer of the sun. And the solution is tree planting and stop cutting of trees.
Countries which do not find any allegations against bitcoin to ban it may use such complaints as global mining due to bitcoin mining to ban bitcoins.We know very well if we want to avoid global warming,we would have to ban lots of ongoing projects today and it would definitely seem to be illogical to do so.But no one would agree to stop mining reward which is given to miners.
Bitcoin has nothing to do with it.
energy company can produce clean energy but a lot of them continue to produce energy with fossil fuels.
Bitcoin can consume electricity coming from clean energy... it depends by energy producers!
I hate people who see bitcoin is a wasteful of energy, they do not understand absolutely nothing!!!
energy company can produce clean energy but a lot of them continue to produce energy with fossil fuels.
Bitcoin can consume electricity coming from clean energy... it depends by energy producers!
I hate people who see bitcoin is a wasteful of energy, they do not understand absolutely nothing!!!
I think bitcoin and global warming is not related because bitcoin will stay as independent and not interfere with the others. the mining process is different things than bitcoin and I think if we can use the other energy, we can save electricity for another thing. right now, bitcoin is only available in the internet and bitcoin doesn't have a physical form so it's different than gold mining or something else.
I think bitcoin production does not contribute much to global warming, gold mining, industrial plants and forest clearance is a big cause of global warming, because now many solar power plants that tend to be environmentally friendly
The carbon dioxide pollution caused by BTC mining is almost negligible compared with the traditional industrial carbon dioxide production!
Compared to the exploitation of oil, gold mining, BTC mining is very environmentally friendly!
Compared to the exploitation of oil, gold mining, BTC mining is very environmentally friendly!
I think electricity is not really a problem in Bitcoin mining because there are so many invention today that can really help our mother earth and in terms of electricty we can now use solar panels to generate electriciy and you don't need to burned trees or use gasoline that creates smokes.
Therefore, a technology that has the nature of interdependence, a technology can not stand alone without the existence of other technologies that can support it, as well as bitcoin mining, if this technology is combined with new technologies, especially in terms of alternative power supplies, the blockchain will become one of the most up-to-date technologies to use as the safest data storage and unmanageable by anyone except by its users.
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