Topic: Bitcoin Mining & Environmental Effects (Read 211 times)

This problem is always discussed every year it seems because it is always the last weapon to make bitcoin seem to be very dangerous and even the most dangerous for the environment
But indeed when there are other things that are almost the same and much more dangerous as @Gallar said there is almost nothing that makes this seem very dangerous even large waste factories are increasingly roaming everywhere which is actually when it says the effect is clearly the same even very far away larger especially for some productions that contain pollution in it.

oh , its not wasting the energy , its using it !
amazing dude

so why do you need the most secure network in the world when you buy a cup of coffee ?

take any credit card company , they're making millions of transactions on a daily basis .imagine those transactions on "the most secure network in human history" .not possible.

i don't get it . why the regular joe needs the most secure payment methods ? are you all that important ?  
owning 0.005btc automatically makes you agent 007 ?

Heating & Environmental Effects
Airplanes & Environmental Effects
Car Driving & Environmental Effects
...

The problem is not power consumption, it is how you produce the electricity.

The solution of that is green energy as we all knows sun is a huge source of energy and now we start to utilize the solar energy in the forum of Electricity but as actions performs in very small scale ,
Solar mining industry is very highly profitable industry and needs some focus to maintain and mine with green electrical power .

I reads an article that in sahara desert if we cover 5% desert are with solar panels then we make 4 time more electrical energy that we are using all around the world ,
Simply give us direction of how much energy we are waiting .( You mush research on that )

Link: https://futureu.europa.eu/en/processes/GreenDeal/f/1/proposals/725

Thats not how it works. Bitcoin doesnt waste ANY energy. It USES the energy. None is wasted. It all goes to securing the protocol. Bitcoin is the most secure network in human history because all that energy is USED to secure it.

Also the energy use has nothing to do with transactions. The energy used secures the network. Bitcoin could use a thousand times as much energy or a thousand times less energy and still do the same transactions. Transactions =\= energy. Energy usage is dictated by the economics of mining rewards, not the number of transactions. The only reason bitcoin mining uses a lot of energy is because the economics of the bitcoin network allows mining to use that much energy and be profitable. There is always more economic output in Bitcoin mining and there is economic/power input.

As for fiat, well that uses an enormous amount of energy, far more than Bitcoin. So if you're comparing Bitcoin energy used to fiat energy use Bitcoin wins by a long shot.

And you mention crypto as well, well no altcoins are money, they are tokens mostly for apps, or failed attempts to compete with bitcoin so it doesn't even make sense to compare them to Bitcoin because they cant do what Bitcoin does.

the "blame carbon" started in the 1980's

when the 2050 number came about
yea they may have found more oil to push that to 47 years left(2069) which is why since 2010 they have been less pressured to convert away from oil thanks to a 19 year new reserve being found

but oil takes millions of years to ferment and convert so its not like they can keep finding new reserves forever

dont expect many more pushing the deadlines back by 19 years plus.

the deadline is not so much about atmosphere,  its about having energy production(a business) that they can continue having a business with a 50+ year survival plan for the business

you are correct .

the only problem is , in those factories waste is the by-product . factories don't just work to generate waste , they produce products and necessities .

bitcoin is a virtual asset (or currency , whatever..) and while being mined , it wastes huge amounts of power . every transaction on the blockchain needs lots of power (real power , not virtual) .compare that to any other fiat transaction or even other types of crypto transactions which need negligible amount of electricity .

O agree that carbon discussion is much more economic than ecological.

However,  oil reserves are not so static as you said. Personally,  I believe humans will always find more reserves in further places, it will just be more expensive

There were giant discovered in recent years, like in Brazil. You can take a look here that the proven oil reserves x time is growing
https://www.worldometers.info/oil/

I somehow when someone says bitcoin is a disaster for nature then I really think that is a crazy assumption. Bitcoin is not bad for nature and bitcoin mining is not as bad as say. Obviously mining requires electricity and resources but when the electricity provider has a good solution for nature then renewable energy is a must.

Some people blame bitcoin and its mining as one of the most destructive to nature, I don't understand that claim and I will never justify that claim. If anyone is to be blamed, I think the government and its regulations are to be blamed. If large mines still use electricity that is not from renewable energy, then that's a problem for nature, whereas if these large mines already use electricity generated from renewable energy, then what's wrong?

In my opinion, bitcoin mining is nothing, compared to factory waste, which is increasing and piling up day by day.
what you wrote above is true, but bitcoin mining will not have that bad impact.
I have never heard of complaints about the impact of bitcoin mining on society, in fact what many people complain about is factory waste, because the impact is clearly felt.
the water around the factory is dirty, the air is not fresh, and the garbage from the factory is piling up.
In conclusion, bitcoin mining certainly has an impact on the environment, but it's not as bad as you wrote above.

Yes OP you are right about climate change but seems like you are buying into the myth about bitcoin mining.

You state a couple times mining requires electricity AND oil, petroleum. It doesn't require fossil fuels. It requires electricity. Some electricity comes from fossil fuels. Big difference between those two statements.

Also you specifically say the electricity used on Bitcoin mining is wasted. It isnt wasted, it is used. Would you say the electricity used on anything else is wasted??

And it's actually the opposite. The world actually does waste any enormous amount of the electricity generated because power plants have to maintain it level of energy production far in excess of what is used most of the time so that we don't have brownouts or blackouts. The funny thing is that Bitcoin is the solution to it. There are already companies that run Bitcoin miners directly at power plants to use that wasted energy. They're also companies that use the wasted energy of flared oil to run Bitcoin miners. So to say that Bitcoin waste energy is actually the opposite of the truth. Society waste a huge amount of energy and Bitcoin is the only solution we have to making that energy useful. In doing so this greatly strengthens video economics of energy production for the world. This is just a side benefit of Bitcoin, but it is a huge benefit for society.

Also let's not forget that for many years now bitcoins use of renewables in Bitcoin mining has been like 30-40-50%, something like that. Which is very high compared to the amount of renewables used in other industries. So Bitcoin is actually leading the way in usage of renewables.

Bitcoin also allows us to use stranded energy. So this would be say renewable energy that is found not near society. It is not profitable or useful to gather stranded energy. But thanks to Bitcoin it is. It's foreseeable that in the future we could harness stranded energy for Bitcoin mining and then use the profits from that for other societal needs.

Pick my mind could also be used to make power plants in new areas profitable from the start rather than making a power plant and hoping enough people move there to make it profitable.

Bitcoin mining is such a powerful and beneficial force for society. Not only does it secure the most secure network in human history and the most fundamentally solid money in human history, but it strengthens the energy industry, is leading the way toward higher renewable usage to stop climate change, allows us to use stranded energy, and allows us to stop wasting enormous amounts of energy and put that energy to good use, and it can also make power plants in new areas profitable from day 1 when residential/industrial demand for power isnt there yet. Additionally it allows people who have the startup costs to buy a Bitcoin miner to make a side income.

Does Bitcoin mining use a lot of energy? Absolutely. But none of it is wasted and it has very large side benefits to society. Bitcoin mining will need to continue to move toward 100% renewables just like the rest of society to stop the worst effects of climate change in the coming century. But it is doing a good job so far, better than the rest of the world. Only people who aren't educated on Bitcoin mining vilify it as some sort of climate disaster or just in general a bad thing.

sorry to inform you.
carbon does not affect the atmosphere and temperature as much as WATER

yep clouds and rain and snow affect temperatures more then carbon

when you look at whether channels and look at temperature charts they are more measuring sunny days and manipulating raiy days to what they think is a sunny day equivelent to push up the reasoned temperature.

just doing this makes it appear like there was less colder days per year which changes the average real temperature to a higher manipulated average temperature

oh and by the way.. when looking at the "parts per million" content of air
if there is 400ppm that is 0.04%
without adding any extra carbon. by removing just 0.1% if water. raises the carbon parts by million to make up for the gap when trying to could 1m particles
.. isnt maths fun

.. yes humans are affecting the climate. but not how you think. changing how natural water cycle works has changed the water cycle.

water bottlenecked into reservoirs for hydro electric dams and then pushed down pipes has caused less water to naturally flow across land evaporate. to then form cloud to block heat coming in. and stops the rain from cooling the land at ground level
the surface area per gallon has changed where by less water gets to evaporate because its either taken off the land thus gets no surface area of thin layers to easily evaporate. or is saturated into reservoirs where the under waterline is too much water to also prevent much evaporation


..
the carbon game is not an ecological game. its a economic game
since the 1980's they know oil reserves will be depleted by 2050. its what triggered the gulf wares and such to raid other countries of their reserves. and now power companies have to diversify over the next 30 years or go bust. so they are trying to blame x,y,z to then get alot pr profit/grants to fund their diversification without them going bankrupt.

.
as for bitcoins impact on climate and environment.. think about the coal, gold, mines. the land that is wrecked.. bitcoin does not wreck land.

bitcoin is not gas powered. its electric powered. an asic does not burn a lump of coal. power companies do. so blame the power companies for not offering clean production. its not asics fault.

..
you are already seeing the power industry not mention, but actioning in the direction of nuclear, solar and wind. and avoiding(moving away from new) hydro-electric sector.. you now know why

brazils RAINforest is called a rain forest and not a carbon forest for good reason

do your research, not media rehearse

---

now lets deal with the bitcoin mining power amount .. you say 131TW

lets just do some actual math

a antminer s19 is 140thash for 3kw

if we imagine the entire year was non stop mining at an even 280exahash mining(bitcoins peak) (using this number for easy visible maths even you can check with your head)

that is 2million asics.
meaning 3kw x 2m=6gw per hour
6gwh=144GWh a day=52.5TW a year
but that is if mining was 100% always at 280exa

fun fact.
average hashrate for year actually is 212exa for year not 280exa
which is 39.7TW per year.. not your 131TW

see im using actual asic stats and actual hashrate stats. to get actual numbers

you are 3x incorrect

The ambivalence between the governments of various countries over Bitcoin is that Bitcoin mining causes massive damage to the environment.  Bitcoin mining in particular requires materials such as electricity, fuel, oil and petroleum, which produce a large amount of carbon dioxide/CO2 during mining, which greatly harms the environment.  Every year, 100-200 million tons of carbon dioxide is generated by mining bitcoins, which is a threat to the environment. All this carbon dioxide acts like a greenhouse in the atmosphere which allows sunlight to enter the earth but not leave it.  The amount of carbon dioxide is increasing day by day, causing global temperature to increase at a record rate due to greenhouse-like processes.  As a result, the deposits on both sides have started to melt and the low-lying areas of the earth are going to disappear into the ocean.  Moreover, the carbon dioxide produced and constantly increasing is destroying the balance of the environment.  These carbon dioxides are causing severe diseases among humans.  Considering these issues, the governments of different countries around the world are taking a hard stand against Bitcoin mining.


Moreover, Bitcoin mining requires oil and electrical energy.  This requires min 30-131 terawatts Ref of electricity per year, which is equal to the electricity consumption of 30 middle-income countries.  As a result of this waste of electrical energy, the amount of energy in the world is decreasing day by day and the price of fuel oil is constantly increasing.  Moreover, for many other global factors, governments around the world are working against Bitcoin.

Finally we can face following Global Affects.

Power Consumption: Bitcoin mining consumes power, energy I,e oil, Electricity, petroleum and fusil fuels etc .

Produce Pollutants : it produces CO (Carbon monoxide), C02 ( Carbon dioxide) , So2 (Sulpher Dioxide) HCN( Hydrogen Cayanide) , CH4( Mithene) and huge amounts of Electric wastes.

Global Warming : Above gases and Pollutants causes Global Warming in the world significantly. So Ice in the both pole are melting and lower areas in the world ie , India, Pakistan, Nepal, Bangladesh and others are undergoing sea levels due to temperature increasing.

Soil Pollution, water pollution : All above Mining wastes mixing in the water and soils , hence both important environmental element polluting heavily.