Topic: Bitcoin doesnt only consume too much electricity, it destroys the environment (Read 651 times)
November 29, 2018, 07:59:07 AM
I know that bitcoin and other cryptocurrencies mining consume a great deal of electricity but I have never for once thought about the possible hazard the wreck and discarded mining hardware could cause to our dear environment. This a wake up call.
November 29, 2018, 07:30:13 AM
In my opinion, we are currently in a state of times full of sophisticated technology. There have been a lot of renewable energy that are environmentally friendly, indeed all technology is indeed not in all places. But I am optimistic that this can happen in the next few years. If analyzed, cryptocurrency is very suitable with the situation in the future, when technology is growing, we need financial transaction media that also have support. For me Bitcoin and Altcoin can be a strong financial system and also have many benefits compared to the conventional financial system at the moment.
The use of energy by industries such as those that are even used in crypto mining usually has adverse effects on the environment and even humans. In this technological era, as the world develops through the industrial revolution in technology, there is the need to preserve the environment from the harmful effects that the use of energy resources comes with. But is it really those mining companies fault? Our whole society needs a complete overhaul to be able to curb climate change.
There needs to be a change from the ground up, it's not individual companies that should shoulder all the additional costs of getting to a point where they're carbon neutral.
Western civilizations are always bragging about how good they're at recycling for example. Until you find out they're sending the majority of their trash to third world countries.
Now that China has stopped accepting their waste, they're looking at other countries, where there's even less regulations.
As long as we can't work together on this, on a world-wide scale, nothing will be fixed before it's too late.
November 22, 2018, 12:54:08 AM
I believe that Bitcoin consume a lot on the electricity because it eat up more energy in blockchain technology where it allows people to be able to transact with each other whereas I'm quite unsure why or how it will affect or even destroy the environment.
November 14, 2018, 06:09:56 AM
In my opinion, we are currently in a state of times full of sophisticated technology. There have been a lot of renewable energy that are environmentally friendly, indeed all technology is indeed not in all places. But I am optimistic that this can happen in the next few years. If analyzed, cryptocurrency is very suitable with the situation in the future, when technology is growing, we need financial transaction media that also have support. For me Bitcoin and Altcoin can be a strong financial system and also have many benefits compared to the conventional financial system at the moment.
The use of energy by industries such as those that are even used in crypto mining usually has adverse effects on the environment and even humans. In this technological era, as the world develops through the industrial revolution in technology, there is the need to preserve the environment from the harmful effects that the use of energy resources comes with. November 12, 2018, 02:22:24 AM
I don't see the relationship between consuming more energy and actually destroying the environment.
Bitcoins energy requirement is not taking out of any one's home ratio or a companies mega watt, so no one can say they are depleted thanks to bitcoin mining.
The energy comes from reserves and excess energy.
Bitcoins energy requirement is not taking out of any one's home ratio or a companies mega watt, so no one can say they are depleted thanks to bitcoin mining.
The energy comes from reserves and excess energy.
From what I have red and know, there is no way to store most of the forms of energy. At such, bitcoin mining does not do any harm to environment Banning bitcoins just because of this aspect does not sound very much rational to me because we need to weigh in the benefits of crypto as well.
November 11, 2018, 10:47:48 PM
I don't understand the connection between bitcoin mining and the destruction of the environment ! For bitcoin mining only need a socket and electricity that it does not produce but only consumption.
yes bitcoin mining does harm the environment because whenever you use you devices such as computers , mining hardware , etc . they release negative energy or waste energy like for example the smoke that comes out from your mining devices is already considered a polution ( smoke pollution ) which is verry harmful to our environment and also to the person that inhale's it .
but bitcoin itself isnt consuming any energy or can cause harm to the environment or to the people but rather it can help the overall comunity because bitcoin is a one of a kind useful tool .
November 11, 2018, 10:34:23 PM
Having that said, wont it be good to explore other forms of mining thats cheaper and use lower amounts energy?
In the 90's the media claimed the internet wouldn't scale because it would use half the worlds electricity. These headlines are oddly similar.
Over the next decade, with all of the mining around the world, it's quite believable that solutions will be found to consume less energy.
November 11, 2018, 10:17:22 PM
Is okay for BTC miners to add more power until it uses as much energy as 20 small countries? How long can PoW mining be sustainable? Can it last as long as 1000 or more years?
Having that said, wont it be good to explore other forms of mining thats cheaper and use lower amounts energy?
Having that said, wont it be good to explore other forms of mining thats cheaper and use lower amounts energy?
November 08, 2018, 11:20:28 PM
I don't understand the connection between bitcoin mining and the destruction of the environment ! For bitcoin mining only need a socket and electricity that it does not produce but only consumption.
that's because there really isn't any connection between the two. and if we start thinking about the damage that bitcoin inflicts on the environment then we have to start thinking about all the other damages that WE are daily inflicting on the environment too. for example OP's computer that is using electricity to come here and make posts is also inflicting damage on the environment!
the thing is, nowadays there is an attack against bitcoin in a new way and that is the electricity usage of it. they can't accept that this global payment system is growing.
November 08, 2018, 11:16:14 PM
It will not stop. Is this a race of who kills our planet first?
no it is a race about who can make the most outrageous claims about bitcoin's energy usage and the business is good these days. they come up with these exaggerated numbers that they keep feeding people trying to undermine bitcoin. the fact is none of these websites like "theguardian" which you quoted give a shit about planet and environment otherwise they would have spoke more about the real polluting industries that are causing global warming and killing us all not the tiny energy consumption that is the most constructive and clean thing you can find.
Meanwhile its helping destroy our planet as it consumes more energy and increasingly adds to the pollution thats already there. We need an answer or an exploration of an answer to PoW's wasteful use of energy.
Having that said, I know the answer will become the future of mining.
November 08, 2018, 10:18:13 PM
But there are many companies using more energy than bitcoin mining companies.
Bitcoin mining just using electricity and mining equipments ofr mining, it doesn't produce a lot of waste, only heat.
Unlike other industries in the world that produce waste products which are can harm environments.
Bitcoin mining just using electricity and mining equipments ofr mining, it doesn't produce a lot of waste, only heat.
Unlike other industries in the world that produce waste products which are can harm environments.
November 08, 2018, 10:28:26 AM
I don't understand the connection between bitcoin mining and the destruction of the environment ! For bitcoin mining only need a socket and electricity that it does not produce but only consumption.
November 08, 2018, 08:46:39 AM
Metal and plastic can be recycled and the amount of products used to construct mining hardwares is nothing compared to the amount of garbages used in other industries.
What really damages our envirenment in the minning cycle is electricity consumption wich uses alot of natural resources.
What really damages our envirenment in the minning cycle is electricity consumption wich uses alot of natural resources.
November 08, 2018, 08:45:27 AM
The old hardware used and thrown will also be another envronmental problem because the metals and plastics are made of precious and limited resources from the Earth.
All developers should do their due diligence on the energy and hardware efficiency of Proof of Capacity and help to make it more secure from grinding attacks and time memory trade off attacks. Doing nothing and killing the Earth is the alternative lol.
Bitcoin is consuming more energy than Denmark, study
All developers should do their due diligence on the energy and hardware efficiency of Proof of Capacity and help to make it more secure from grinding attacks and time memory trade off attacks. Doing nothing and killing the Earth is the alternative lol.
Bitcoin is consuming more energy than Denmark, study
- Mining virtual currencies with a real-world value, in other words, carries a hidden environmental cost that is rarely measured or taken into account.
- "We now have an entirely new industry that is consuming more energy per year than many countries," said Max Krause, a researcher at the Oak Ridge Institute for Science and Education and lead author of a study in the journal Nature Sustainability.
"In 2018, bitcoin is on track to consume more energy than Denmark," he told AFP.
Denmark consumed 31.4 billion kilowatt hours in electricity in 2015. As of July 1 of this year, Bitcoin mining used up approximately 30.1 billion kilowatt hours, according to the study. - For the study, Krause and Thabet Tolaymat, an environmental engineer based in Cincinnati, Ohio, calculated the average energy consumed to create one US dollar's worth of four top virtual currencies -- bitcoin, ethereum, litecoin and monero -- over the 30-month period up to June 2018.
That amount was 17, 7, 7 and 14 million joules, or megajoules (MJ), respectively.
A joule is a unit of energy equivalent to the work required to produce one watt of power for one second.
That is up to three times the energy needed to excavate gold, platinum or copper, they found. Of the metals examined, only aluminum -- at 122 MJ per dollar's worth -- was more energy intensive. - A complete calculation of the environmental cost of virtual currencies would take into account the banks of computers used to mine them.
"The computers are made with gold and other precious metals," said Krause.
"They are run aggressively, which means the hardware is destroyed much quicker than you or I would expect for regular use -- maybe a year instead of five or ten."
You forgot to blame bitcoin about global warming... They just not only consume all that energy, but they also transform the energy to heat and that heat goes to the environment.
But the question here is; if we stop all miners what would happen with that energy, and that's the point. We already produce enormous amounts of energy, more than what we want, and if we don't use it we are not saving it, because lets remember the energy conservation law:
Quote
In physics, the law of conservation of energy states that the total energy of an isolated system remains constant, it is said to be conserved over time. This law means that energy can neither be created nor destroyed; rather, it can only be transformed or transferred from one form to another.
So, better to use it on miners than waste it.
November 08, 2018, 08:39:15 AM
This system can earn its owner a lot of money every month, but the electricity consumption is really terrible, about 30 times the normal people.
This is one of the negative aspects of Bitcoin. I think there should be control over the exploitation of Bitcoin.
Bitcoin is one of the rare technologies turning green. Many new businesses are installing solar panels essentially to generate electricity which is way more safe for the planet than other industries This is one of the negative aspects of Bitcoin. I think there should be control over the exploitation of Bitcoin.
partly is because of escalating electricity bill... using green tech reduce overall cost in long term.
November 08, 2018, 08:32:21 AM
Many investors just put their profits ahead. They do not realize that bitcoin mining is consuming too much energy and is destroying our environment. We need more ideas to limit this. if it continues. I do not know what our planet will be like. Bitcoin owners will sit on a coin from profit from bitcoin extraction and live in a heavily polluted environment.
November 08, 2018, 08:29:47 AM
I think that such news is customized and directed against cryptocurrency and Bitcoin.
Alternative energy sources can give cheap mining, while equipment can be upgraded.
Alternative energy sources can give cheap mining, while equipment can be upgraded.
November 08, 2018, 08:20:20 AM
In my opinion, we are currently in a state of times full of sophisticated technology. There have been a lot of renewable energy that are environmentally friendly, indeed all technology is indeed not in all places. But I am optimistic that this can happen in the next few years. If analyzed, cryptocurrency is very suitable with the situation in the future, when technology is growing, we need financial transaction media that also have support. For me Bitcoin and Altcoin can be a strong financial system and also have many benefits compared to the conventional financial system at the moment.
November 08, 2018, 08:12:52 AM
Why focuses on bitcoin as an destruction of environment. There's a lot of severe causes that hurts our nature, it can be a human waste, polutions, illegal logging and other practices that severely destroys the nature. It consumes too much electricity but it does not destroys the nature that much than other ways. I don't think that this one matters. If you wanna say that you're an environment-friendly person, tryna focus on the other things not here in the cryptoworld. 
November 08, 2018, 07:50:33 AM
I understand the concern about environment, this is very important to me too.
But I don't think that consumption of electricity related to Bitcoin is something we should be worried about. It's not that high percentage compared to some other consumers and industries. Also there are renewable energy sources that could be used and that are available for miners.
Anyway, I would like to see some figures from reliable sources, not just guessing and theories.
But I don't think that consumption of electricity related to Bitcoin is something we should be worried about. It's not that high percentage compared to some other consumers and industries. Also there are renewable energy sources that could be used and that are available for miners.
Anyway, I would like to see some figures from reliable sources, not just guessing and theories.
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