Topic: Bitcoin effects on the environment ..... (Read 278 times)

the effects of environment related to bitcoin users.the ecnomics and environment effects to the corporate wolrld system .the rise of bitcoin against all other currencies in envionment developent.the bitcoin considered with a goals in mind it is not crrently a realistic crrency for the effects of corporate environment.the bitcoin system economics involved to business world thread  to environment control.the effects leakage prevention affecting the users of business

Every technology is harmful to invironment, whether they produce small, little, or big radiation, they give effect on the invironment,,, but bitcoin atleast help people in their lives, in many ways...

the bitcoin effect for the environment is that we can make bitcoin as education to the environment because I know bitcoin is still very strange in some people so I feel with there bitcoin someone to understand with the existence of digital virtual technology that can give big profit.

Does Bitcoin indirectly become a threat to the environment?
bitco
Bitcoin diggers like this consume a lot of power each month, and even higher than many countries in the world.
 
Unlike "real" currencies such as the US dollar or the British pound, "virtual" money is not issued, as is the bank. Instead, they are "dug" from the computer through an algorithmic process, and this process requires enormous amounts of power, maintained 24/7.
CNN wrote an article quoting meteorologist Eric Holthaus as saying, "Bitcoin is slowing our efforts to convert natural fuels into clean energy." Digiconomists also reported that Bitcoins currently consume an average of 32TW of electricity per year (equivalent to 32 billion kilowatts of electricity), and that is enough to supply more than 3 million homes in the United States. .

I think it is still not that alarming. As of December 2017, the combined consumption of BTC and BCH mining is 0.13% of the global power consumption. It's only the news that tells bitcoin mining is very harmful to the environment. Global warming is already happening very long before the first block and bitcoin was mined. So don't worry too much if you think that you're part of the destruction of the environment. All of us has a slice of it. All we can do now is make mining as efficient as possible.

(Reference: https://www.google.com.ph/amp/s/api.cointelegraph.com/amp/v1/en/news/bitcoin-mining-uses-more-power-than-most-african-countries

I think that is very influential to the environment because more and more fuel is needed to supply electricity.
I think with the miners bitcoin that uses a lot of electricity is also greatly affect the price of electricity.
the government is monitoring many people now use electricity so the government concludes that the society is now rich that the rich miners are actually causing the increasingly expensive electricity tariff and the impact of the small people also feel.

BTC mining is a energy wasting process. so if we used solar power or any other sustainable energy sours to mining BTC it's more good for our environment.    

I think the electricity consumed  for mining bitcoins is negligible to the total supply of electricity in the world for it to have effect on the environment. Heavy industries consumption of electricity has not affected the environment so much that bitcoins generation can even be compared to.

At any point what we do should not affect the environment. It can be of growth based or something advantageous, when we destroy the environment automatically it shows that we're going backwards. It's our responsibility to keep the environment safe and then do the further move towards growth.

Bitcoin has been the biggest wealth distribution since many people have benefited from it. It also boosts the economy of a country and much even to a very progressive country already. Just imagine how many people can participate and can earn in a bounty campaign each tim ico ends.

It is an interesting question for sure, and I think the sensible solution would be to go for more self sufficient methods of producing the electricity to run the mining rigs. Solar power only requires the initial outlay on panels and batteries and once you are setup the electricity will be free. Not only would that be positive for the environment but also reduce your overheads.

I think acquiring solar electricity generating system for bitcoin mining is more complicated and more expensive. Currently mining is not that profitable as before so I don't think miners would consider using solar panel because doing so they would have a longer return of investment period.

Bitcoin mining may be consuming lot of energy but on the other hand it saves environment in the form of lesser cutting of trees because printing of currency notes needs more and more paper which comes  from trees and so if we use bitcoin instead of paper or metal currency definitely the earth is saved from the pollution to be caused for manufacturing / producing paper or metal currency in the form of trees and electricity to be consumed to run the machines for production of the same.
The life span of the hard currency is too short and life of digital currency i.e. bitcoin is very long so paper currency to be reprinted to compensate the mutilation of the notes after few months of usage.
But it is also true if we want to save the earth we must have to divert ourselves towards alternative sources of energy like wind or solar power which is available in plenty and also saves us from pollution.

I have seen some of the figures being released saying the annual consumption is something like 45 TWh. The most commonly referred calculation is here. They are using the revenue earned by miners to back-calculate the energy consumption which looks pretty flawed. Some back of the hand calculation shows that figure is pretty inflated.

The S9 consumes 1350W for ~14TH/s.

If all the mining hardware is assumed to be as efficient as the S9, We'll have 21,000,000/14 = 1,500,000 S9 working.
Per day consumption: 1,500,00 X 1350W x 24 Hrs = 48600 Megawatt Hr.
Per Year: 48600 X 365 =17,739,000 MWh = 17.739 TWh.

Now, multiply this by a factor of 1.5 to account for cooling costs and the distributed hardware, we have an estimate of around 27 TWh.

Of course, i am pulling this factor of 1.5 just randomly but i suppose its a reasonable assumption. It means for every S9 consuming 1350 Watt, you spend 675 Watt for cooling and auxiliaries.

The calculation up there which shows 45 TWh is an alarmist figure.
The 27 TWh per year is also pretty humungous.

Bitcoin network like any other value proposition system will use energy. The figures being given out sound alarmist to me. What needs to happen is that Bitcoin miners should shift to more energy efficient hardware. Bitcoin community and miners need to find solutions to these problems. It is  a governance issue and it can be solved. People just need to  put their head together and in the meanwhile, we all need to do a bit more math..

Absolutely yes! its effects the environment by consume more electricity to the minings and its the time to use green energy to the things that useful to our environments its makes good sources to the users to a highly economy and good quality environments. Many ICO now are fucosing to inlarge source of electricity to their company the solar panels and that is useful to any kind of minings that can also helps our invironments.

As people pay for the electricity used for mining I don't see any problem, I mean with the enviroment unless there's mega farm using a bad based power plant for electricity supply can be very bad .

Of course, it is said that bitcoin miners use a lot of electricity to run mining equipment, and this is what causes high electricity usage, it may need to be efficient use of electricity or find new sources of power that have large capacity but not damage the environment.

yes, of course bitcoin will have a negative impact on our environment, because the mining system continues to work. but I think the bad impact can be minimized with go green program. or other than electric power, can be with other power sources, such as waste power, and hydropower.

Of course mining Bitcoin affects to the environment that why there are a lot of ICO projects related to green energy, they want to improve environment condition and provide green energy to the social but for now it's still not enough to provide to everyone all over the world. Beside to set up a green energy source is really expensive so it's still a really big problem that we need to care about

The electricity is not generated with the coal alone , we do have various sources through which we can generate it without harming the environment , well there is renewable sources of energy which uses least input which is like a one time investment and after that, you can continue to have a lifelong supply of electricity generating no pollution.
One can implement and ask people to use renewable sources of energy that could be a solution.