Topic: Can actually Bitcoin be good for the environment? - page 11. (Read 3221 times)
Bitcoin can result bad and good to environment. But the purpose why bitcoin created is to help community ,people and all of us. It's people choise if they do this with bad way but that is wrong and not recommended.
It is undeniable that bitcoin mining will consume energy consumption. Although, the amount of energy used is still far from the total amount of electrical energy used in the world today. But the reality is that Bitcoin mining does require electricity, this will indirectly also affect the currency and the environment.
From the level of energy consumption that has taken place in Bitcoin mining today, many hopes will be able to reduce the level of energy consumption. Especially in the Bitcoin mining process.
From the level of energy consumption that has taken place in Bitcoin mining today, many hopes will be able to reduce the level of energy consumption. Especially in the Bitcoin mining process.
I think bitcoin has an adverse effect on the environment. Because to dig a large amount of bitcoin, people have to use a lot of highly configurable computers, which consume a large amount of electricity in the world. Emissions from computers also pollute the environment.
A lot has been said about mining and about the electricity consumption of the activities related to bitcoin mining. However, I have thought of the alternatives and how other systems produce not just energy waste, but also plenty of useless work and "human waste".
To have a network that can ensure the completeness of transactions, the global accessibility and all the features that bitcoins, and many alts, have at the moment, would probable produce a huge carbon footprint. Just think of the VISA system or the banking system... the amount of people working on it, the waste of commuting to works, the infrastructure.
Thinking of all that, would you still say Bitcoin is bad for the environment?
Yes,it can save lot of resources so which is good for environment.The mining needs large amount of electricity but world has huge number of banks and their buildings were thousands of thousands so imagine if there is no bank we can save all those electricity and can save the environment too.And it also can human resource but it will be bad for the people who working on this sector but normal people it can save the banking fees and timing because we can do it our own in a matter of seconds.To have a network that can ensure the completeness of transactions, the global accessibility and all the features that bitcoins, and many alts, have at the moment, would probable produce a huge carbon footprint. Just think of the VISA system or the banking system... the amount of people working on it, the waste of commuting to works, the infrastructure.
Thinking of all that, would you still say Bitcoin is bad for the environment?
traditional bitcoin mining does waste quite a few sources, but with the current mining strategies of different altcoins converting, the lack of resources is not as exaggerated as bitcoin. Bitcoin will even change with those, and secondly, bitcoin mining resources, miners will pay costs, now not waste, this is a transaction.
It all depends on who is spreading or introducing bitcoin in the environment. If it disseminates information inaccurately it will have a negative impact on the environment
Bitcoin can be good for the environment.It can reduce the amount of electricity used by the banking sector.
They say that in few decades 30% of banking jobs will no longer exist. I'd say 80% if we start investing into cryptocurrency.
I think bitcoin does not adversely affect the environment. The number of bitcoin networks requires a lot of electrical energy resources. But bitcoin does not burden because some people use electricity with other alternatives. Like the source of solar system energy.
well i think so because some project of many company is for the goods of the environment, and i can't see any reason that bitcoin can harm to the environment then, i hope that there are many company that will be increase in the solution platform to our environment.
I do hate banking system but there is no reason for saying that Bitcoin is good for the environment because of banks. Of course Bitcoin is much better than banking done but still mining causes a lot of damage to our environment not much like industries but still, it consumes a lot of power and produces heat which is a problem. But what if we can store that heat I transfer it from there and we use it and something else that will not only avoid the problem but also make it useful and probably automate something.
Bitcoin is good for the environment. The things that affects the environment is not the bitcoin itself but the tecnology that we used to generate bitcoin. Like mining and other power source that produced radiation.
Bitcoin does not affect the environment, its not either good or bad for the environment, The system used where they required a lot power energy supply for miners, just maybe can have some effects on the environment but not until today no one knows about this except the report of power energy consumption as to how much power we are using on the certain period of time.
Of course bitcoin will be good for environment because electronical coins don’t need paper and wood to produce it. Miners will use renewable sources of energy that’s why no negative impact towards nature will be produced.
Bitcoin is only used on the internet and is not related to the environment. I just see the bitcoin mining is having a bad influence on the environment. Because there are some bitcoin farms that cut down the forest for the purpose of building Bitcoin farms
I think there is no reason that bitcoin becomes bad to the environment. As a matter of fact it helps a lot of people in the invirinment to grow their knowledge and to improve their social life. It also helps to the unemployed people which can be a good job for them.
I agree with you because people still use electricity for everyday use in PC. It will be great if more and more solar panels will be used for it.
Even so, we can not deny Bitcoin's impact on the environment. A study was made and posted on the Digiconomist, a site dedicated to the study and assessment of the ecological impacts of Bitcoin, published alarming data. Storage of transactions alone requires an average annual energy consumption of 30.14 billion kWh per hour, equivalent to an annual output of four nuclear power plants, but more Continuous operation of all computers to solve complex algorithms, will result in power consumption in excess of 42 Twh, equivalent to 0.19% of power consumption worldwide. Every day the Digiconomist web site publishes digitized data and illustrated examples to warn consumers of this problem. On 17-1-2018, the energy consumption of this coded currency was equal to At the same time, new Bitcoin diggers will be involved in the process of verifying transactions and adding them to Blockchain. This not only increases the demand for electricity but also increases carbon emissions. According to data obtained from a Bitcoin mining facility in Mongolia. By exploiting a BTC, the facility generates about 8,000 to 13,000 kilograms of carbon dioxide, or about 24,000 to 40,000 kilograms of CO2 per hour of mining.
I think yes Bitcoin is good for the environment , because this technology that we used to generate bitcoin whether you like it or not it can create many job opportunities and helps many people.
Having in mind huge amount of electricity that Bitcoin mining farms are using then Bitcoin is not environment friendly.
Still with alternative sources of energy, like wind that is used for electricity production this might change a bit. And especialy with some sustainable energy sources which I beleive would be available for mass usage soon.
Still with alternative sources of energy, like wind that is used for electricity production this might change a bit. And especialy with some sustainable energy sources which I beleive would be available for mass usage soon.
For someone it is actually yes because it helps a lot for your future and your needs in life and also to help to others but in bad side the people are just facing their computers or any gadgets all the time because they need to do a task and to be aware what is happening in the price market of bitcoin.
Yes !
As soon as we have fusion energy on anything else that is truly self-sustaining (not just renewable). If we have free electricity it is pretty reasonable to create money from it. The cash system is a huge impact on the environment but right now if BTC would be mined as such that the whole financial system uses it, well that would not be suitable for the environment with current sources of electricity. Also the electricity network would fail I believe.
As soon as we have fusion energy on anything else that is truly self-sustaining (not just renewable). If we have free electricity it is pretty reasonable to create money from it. The cash system is a huge impact on the environment but right now if BTC would be mined as such that the whole financial system uses it, well that would not be suitable for the environment with current sources of electricity. Also the electricity network would fail I believe.
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