Bitcoin and pollution | Bitcointalksearch.org

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Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

I do not understand why you use the word pollution here. I think it must be replaced with word spread and influence. By BTC is not harmful, if we play properly stop right. I think so.

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This seems a ridiculous question: does fiat not cause polution? does gold not cause pollution? lmao

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Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

Bitcoin mining needs huge amount of electricity and it will produce heat energy which can pollute the environment but it can be solved by bitcoin mining using renewable sources like solar and wind power but these kind of mining need huge one time investments.

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Quote from: amatias on January 13, 2018, 07:02:13 AM

Bitcoin and pollution.
Bitcoin encourages the use of digital currencies as an alternate mode of payment. As a result, money, in form of coins and bills, are minimized. As we know, bills and coins comes from paper and metals, respectively. Paper from trees. Metals from mining. If bitcoin is widely used, less trees are cut and less mining! Pollution is lessen!
STOP POLLUTION! MORE BITCOIN!

Actually since bitcoin is out, the electricity spent has rising over the roof, especially in 3rd world or developing countries where electricity costs are much lower.

Quote from: richardivan on January 13, 2018, 07:00:26 AM

Quote from: hitrawal91 on January 12, 2018, 12:33:41 PM

Yes, it really a serious problem for Miners and for the country also, as the electricity which is been used for bitcoin mining by the mining network is really high and this electricity can be used for some other purposes also if the consumption decreases to some extent. The solution for this is that we need to replace this electricity with renewable energy something like either Solar energy or Mechanical energy or we can also develop our processing systems and units by which we can start consuming lesser energy. I have found an article that shows you that Bitcoin mining consumes more electricity a year than Ireland. https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland

I think the use electricity for Bitcoin mining not a big deal for environment since electric can obtain from renewable resource like water, heat, wind. For country can be focused to bigger problem like waste paper / plastic / vehicle polution that can demage badly for environment

Yes electricity can be obtained from energy but what about the costs then? If you are living in a first world country how much would you be spending by paying electricity compared to a third world country? Short term wise, this problem is not a small matter. Every miner wants to keep their costs low and get their profits higher. And this, I believe is what most countries are also concerned of.

amatias

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Bitcoin and pollution.
Bitcoin encourages the use of digital currencies as an alternate mode of payment. As a result, money, in form of coins and bills, are minimized. As we know, bills and coins comes from paper and metals, respectively. Paper from trees. Metals from mining. If bitcoin is widely used, less trees are cut and less mining! Pollution is lessen!
STOP POLLUTION! MORE BITCOIN!

richardivan

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Quote from: hitrawal91 on January 12, 2018, 12:33:41 PM

Yes, it really a serious problem for Miners and for the country also, as the electricity which is been used for bitcoin mining by the mining network is really high and this electricity can be used for some other purposes also if the consumption decreases to some extent. The solution for this is that we need to replace this electricity with renewable energy something like either Solar energy or Mechanical energy or we can also develop our processing systems and units by which we can start consuming lesser energy. I have found an article that shows you that Bitcoin mining consumes more electricity a year than Ireland. https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland

I think the use electricity for Bitcoin mining not a big deal for environment since electric can obtain from renewable resource like water, heat, wind. For country can be focused to bigger problem like waste paper / plastic / vehicle polution that can demage badly for environment

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Quote from: teejaymuna on January 12, 2018, 05:03:10 PM

Yes, BTC mining consumes a lot of energy and being that most countries participating in BTC depend largely on fossil fuel as energy source, it does create a negative climatic effect. However, I strongly think that BTC mining contribution levels are very minimal and our climate will still be less habitable if BTC miners completely use cleaner energy sources for mining operations.

Never looked at it that way. I'm not that familiar with mining and I never thought of it as detrimental to the environment. But if that's the case, then bitcoin mining is indirectly contributing to pollution.

Renewable energy has been a problem not only for mining, since a majority of the planet still rely on fossil fuels - which would ultimately deplete eventually. This problem should be addressed so as not to harm the environment even further. Mining is essential however taking care of the earth's environment is important as well.

partysumo

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Well, if we think about established financial institutions like banks, and how many offices they have around the world, hosting a huge number of employees, they definitely create more pollution than bitcoin. Of course, the energy requirements of bitcoin have to be addressed, but it's not like banks are not creating environmental problems as well.

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Quote from: Cardan0 on January 12, 2018, 07:04:53 PM

Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

The obvious solution would be to radically change the way bitcoin is mined. As we all know, that is not possible at the moment as Bitcoin is kidnapped by a band of large farms and has lost the community guidance. Eventually, that may kill the coin.

Bitcoin and pollution their is no connect. But if their a chance to minimized pollution in this world using bitcoin why not. If the government implement the rules to minimized pollution stop using vehicle that can cause pollution. Also if the government will allow to used bitcoin.

flippener

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It's a good point - I'm just starting mining, and only use a renewable electricity supply (including my own solar panels).

jinksters09

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This has really not come to my mind that cryptocurrency and in its tokens are causing pollution but one article I saw when I was browsing the net and searching for newsfeed regarding bitcoin is this, jeez I don't how? But I guess anything is solely possible in this world anything so we might as well prepare for the worst.

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Quote from: btcluisdiki on January 12, 2018, 09:08:30 PM

Quote from: HeRetiK on January 12, 2018, 07:53:22 PM

Bitcoin mining is most profitable in places where electricity is the cheapest. Electricity is cheapest were its supply outweights its demand. As electricity is hard to store, any supply that exceeds demand is simply lost. It follows that Bitcoin mining mostly uses leftover electricity that otherwise would have gone by unused.

So far PoW appears to be the cost of maintaining a decentralized digital currency, since PoS is a questionable alternative and most other approaches rely on centralized entities. Assuming decentralized currencies are something worth striving for and are able to meaningfully replace large parts of the financial system and reduce spending on literal mining of precious metals, the environmental impact might be a net positive in the long run, given that both sectors require a lot of human and natural resources, which arguably could be better spent elsewhere.

Based on the article I happened to read, bitcoin is somehow contributing pollution to the environment like computers that are involved in bitcoin mining since this requires or consumes a lot of electricity to operate and also on the process of transporting bitcoin between each faction. The higher the electricity is being consume, the more fossil fuel it will be use to compensate the electrical power requirement thus resulting to tons of carbon emission to the environment.

I definitely agree that bitcoin may probably has a possible effect of pollution in the future once there will be more people might get involved in the bitcoin mining business wherein more electrical power will be use to generate to the power requirement. More increase in power consumption, the more fuel will be use by power plants which will result more carbon emissions in the atmosphere which may affect the people and environment.

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Quote from: hitrawal91 on January 12, 2018, 12:33:41 PM

Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

Yes, it really a serious problem for Miners and for the country also, as the electricity which is been used for bitcoin mining by the mining network is really high and this electricity can be used for some other purposes also if the consumption decreases to some extent. The solution for this is that we need to replace this electricity with renewable energy something like either Solar energy or Mechanical energy or we can also develop our processing systems and units by which we can start consuming lesser energy. I have found an article that shows you that Bitcoin mining consumes more electricity a year than Ireland. https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland

Many of the peoples confusing the mining electricity. First you should think mining is the business so more electricity is consuming in mining rig. But profit also constant in the mining.
It is most promising profitable platform in the crypto market. The main problem of Bitcoin pollution is Korea government ban some miners in our country. This is exact problem in the Bitcoin.

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Quote from: HeRetiK on January 12, 2018, 07:53:22 PM

Bitcoin mining is most profitable in places where electricity is the cheapest. Electricity is cheapest were its supply outweights its demand. As electricity is hard to store, any supply that exceeds demand is simply lost. It follows that Bitcoin mining mostly uses leftover electricity that otherwise would have gone by unused.

So far PoW appears to be the cost of maintaining a decentralized digital currency, since PoS is a questionable alternative and most other approaches rely on centralized entities. Assuming decentralized currencies are something worth striving for and are able to meaningfully replace large parts of the financial system and reduce spending on literal mining of precious metals, the environmental impact might be a net positive in the long run, given that both sectors require a lot of human and natural resources, which arguably could be better spent elsewhere.

Based on the article I happened to read, bitcoin is somehow contributing pollution to the environment like computers that are involved in bitcoin mining since this requires or consumes a lot of electricity to operate and also on the process of transporting bitcoin between each faction. The higher the electricity is being consume, the more fossil fuel it will be use to compensate the electrical power requirement thus resulting to tons of carbon emission to the environment.

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This is actually one of the critical issues regarding Bitcoin's tech. The Bitcoin network is consuming the same energy as the whole of Ireland - and rising. This is not sustainable.

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Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

Unless the said prospective investors are hardcore green supporters, it shouldn't faze them from investing. People still use inefficient cars, still throw trash everywhere, and some don't even believe that pollution can impact the global climate. They're going to look at one thing only, and that's their bottom line.

What it could affect though, are governmental regulations. If this starts getting some real traction, it could turn into a demolition job by the media and green groups. That could throw off potential investors.

As for solutions, miners could start using renewable energy, which some are already doing. Bitcoin could also do away with PoW, though I can't really propose any alternatives.

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Bitcoin mining is most profitable in places where electricity is the cheapest. Electricity is cheapest were its supply outweights its demand. As electricity is hard to store, any supply that exceeds demand is simply lost. It follows that Bitcoin mining mostly uses leftover electricity that otherwise would have gone by unused.

So far PoW appears to be the cost of maintaining a decentralized digital currency, since PoS is a questionable alternative and most other approaches rely on centralized entities. Assuming decentralized currencies are something worth striving for and are able to meaningfully replace large parts of the financial system and reduce spending on literal mining of precious metals, the environmental impact might be a net positive in the long run, given that both sectors require a lot of human and natural resources, which arguably could be better spent elsewhere.

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what has one to do with the other?

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Quote from: Silberman on January 12, 2018, 06:55:53 PM

Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

A significant amount of miners in China use power that is generated from hydro plants, so bitcoin is not as polluting as people think, while hydro plants require to change the landscape in order to produce energy once all that is done is one of the cleanest forms of creating electricity so to make this assertion that bitcoin is polluting the planet seems to an exaggeration.

Whatever energy you use for bitcoin is energy that you cannot dedicate to other uses. So even that energy is renewable, it means that non renewable energy has to be consumed for other uses. It would only work if every bitcoin farm invested to have their own clean power supply.

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Quote from: jevee on January 12, 2018, 11:48:12 AM

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

The obvious solution would be to radically change the way bitcoin is mined. As we all know, that is not possible at the moment as Bitcoin is kidnapped by a band of large farms and has lost the community guidance. Eventually, that may kill the coin.

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