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.
Topic: Bitcoin doesnt only consume too much electricity, it destroys the environment - page 3. (Read 651 times)
November 06, 2018, 12:32:34 AM
November 06, 2018, 12:28:17 AM
Once again, there was an opponent of technology development. I wonder why all these environmentalists think only about banning, but no one thinks how to improve? Because it is harder to create than to destroy. And to attract attention to such topics is easier, people like such news more.
November 05, 2018, 11:36:24 PM
Humans waste an awfully lot of energy, and unlike Bitcoin, most of that energy comes from coal.
So energy is just one more of the "goods" we "produce" and waste. The bigger the need, more the pressure to harness more energy from regenerable sources, more efficient and also store it and transport it better.
So energy is just one more of the "goods" we "produce" and waste. The bigger the need, more the pressure to harness more energy from regenerable sources, more efficient and also store it and transport it better.
November 05, 2018, 11:27:32 PM
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."
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