Topic: Bitcoin Mining is Good for Environment (Read 141 times)

I was actually surprised when I read the caption. The argument I have always seen is that bitcoin mining does not consume energy more than other sectors. I have also read that bitcoin electricity consumption is hyped by the government to discredit bitcoin.
I have read articles encouraging all bitcoin miners to go green for the safety of the environment.
This is actually my first time of reading that Bitcoin mining is good for the environment.
Anyways, it was a nice read and some facts are in the article.

Am very sure such a project in any environment would be capital intensive although there is return on investment in the form of profit and it would improve the standard of living for persons living in the area, as well as manpower.
My concern is that of government imposing on the operation of miners of BTC perhaps due to fact it may not be  a legal tender in the region. In this case how will the settlement go? What terms would be agreed on? Would agencies be on ground to monitor the activity of the miners in such a place?

Even the not-so-bitcoin-friendly World Economic Forum recognised that Bitcoin mining can be a good thing and praised it for using energy from recycled waste gas. Of course, they managed to do it without mentioning Bitcoin or Bitcoin mining at all (referred to data centres instead) but still.
More details in this thread:
https://bitcointalksearch.org/topic/world-economic-forum-recognizes-the-benefits-of-bitcoin-mining-5450069

It's fair to say that bitcoin's appearance and its impact on the environment still depend on human behavior, after many years I have read a lot of arguments about bitcoin's harm environment or a few that express a positive opinion. And what is the problem with the environment we have, the influence and responsibility of people affecting it is the problem, I see that the problem of climate change is getting more and more severe, so before deciding something should also look back at how we interacted with them to make it like that, I see that when this planet is always in balance and human impact on it only makes our living environment worse becoming more and more severe, over the years this is also a major issue that has been raised at the forefront for the protection of our own living environment.

Any even average person understands that mining in the context of Bitcoin has almost no impact on the environment, and not only because Bitcoin exists for too short a time to have any impact on the environment, but because in a global context it consumes a very small amount of electricity, from of which more than 50% comes from renewable sources.

The people who represent the opposite side do not care at all about any meaningful arguments, their agenda is very clear and one-way, and we can only discuss whether they are on someone's payroll or they are doing it for some personal reasons. Their goal is not at all, in the real sense, aimed at preserving the environment, but at causing as much damage as possible to the idea of any decentralization, whether it was called Bitcoin or something else.

Yes, with all the negative publicity in the media, more and more miners are moving towards a more environmentally friendly electricity source, so we can say that a shift to geo-thermal and hydro and solar are being accelerated by miners looking for more eco friendly alternatives.

OP, thank you for posting this counter argument to this debate, it is good ammunition against the argument that Crypto mining are bad for the environment. 

I think it is said that bitcoin is not environmentally friendly because of high electricity costs. Therefore, they are looking for ways to create new projects based on "green energy" which are said to be more environmentally friendly than the bitcoin mining system. but the fact is that there is no green energy that really dominates the crypto market, it remains bitcoin that exists as a POW mine that has survived until now. I'm sure there must be environmental benefits for some people even though it consumes high electrical energy.

In Malawi 1,600 families are connected to the power that comes from powerhouse and others. They use to make that energy for Bitcoin mining, which makes it more self-sustaining and also increase their livelihoods or decrease the cost of power for those who are connected. Bitcoin mining is helping 1,600 families in the mountains of Malawi, Africa get cheaper hydroelectric energy the formula is this extra sustainable electricity plus internet connectivity plus Bitcoin profitability equals to cheaper energy for the community.

I really like this video released by Altcoin Daily titled: Bitcoin Mining is Good for Environment.

It discussed on why Bitcoin mining is doing good in:

Global Scale (county by country)
US Scale (state by state)
In general (argument by argument0

It explain that Bitcoin mining is doing good in Global scale for the reasons:

1.  Bitcoin Mining is helping 1,600 families in the mountain of Malawi, Africa get cheaper hydroelectric energy.
2.  The Tecapa volcano in El Salvador produces more clean sustainable geothermal energy than the local community can use.  Mining Bitcoin with the extra energy helps lower the cost and balance the electrical grid.
3.  In Lebanon the local currency has lost more than 95% of its value, pensions are worthless, banks shutdown, and ATM are out of cash.  People are surviving by mining Bitcoin.
4.  Tepco, Japan's largest power company is mining Bitcoin - helping energy costs for consumers, increase profits, and decarbonize the energy grid.
5.  Mining Bitcoin enable a defunct hydroelectric plant go back in operation after 9 months of shutting down due to not generating profit.
6.  North Vancouver is set to become the first city in the world to be heated by Bitcoin mining.  Bitcoin mining to create heat for the city using sustainable energy and Bitcoin mining to lower the coist.
7.  Bitcoin is used to crowdsource solar panels in Zimbabwe.  1905 individuals across 95 countries funded the Nhimbe Fresh project, a grower of berries and vegetables made up of 250 small farmers and this is made possible thanks to Bitcoin.
8.  Exxon Mobile is using Bitcoin mining to reduce harmful emissions.

US scale

1.  Bitcoin mining is cleaning up toxic waste in this Pennsylvania town and saving taxpayers $5Billions
2.  Governor of New Hampshire recommends the Dept. of Energy to review how Bitcoin mining can help stabilize the electricity grid, build more sustainable generations project and lower costs for consumers.
3.  Governor of Texas says, Bitcoin is good for the power grid.  CEO of Texas' energy grid, Brad Jones explains Bitcoin is helping the energy grid and is driving more renewable into the system.
4.  A company want to build a massive solar project in Montana for cryptocurrency.
5.  Bitcoin mining saved the oldest hydroelectric energy in the US by being turned of forever.  Built in 1897, Mechanicville Hydroelectric plant could no longer to make a profit and was scheduled to shutdown but Bitcoin mining saved it.
6.  US house committee on Financial Services wrote a letter to the EPA, saying that digital asset and its related mining activities are essential to the economic futere  of the United States.

Arguments in general

1.  Bitcoin mining keeps room warm during the winter and lowering energy cost
2.  U.S. Congress testimony
3.  Bitcoin energy is renewable
4.  Bitcoin mining recycles harmful methane emissions into profit
5.  New research data shows the global Bitcoin mining industry produces less CO₂ emission than computer games and holiday lights.
6.  Bitcoin is estimated to use 58.9% sustainable energy according to the latest date of BMC

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It has been proven by data that Bitcoin mining is good for the environment, it helps the community and countries to even energy grid and lower the energy consumption.  In terms of global consumption, it is also proven by data that Bitcoin mining only uses 0.17% when compared to global total energy so it is somehow negligible.  So I think this information about Bitcoin mining using lots of energy from the global energy is all fallacy and myth.  I think this misconception are being spread out to bring FUD and destabilize Bitcoin economy.

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Source: Bitcoin Mining is GOOD for the Environment! 💯