Can actually Bitcoin be good for the environment? - page 20.

bitbink

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Quote from: Cardan0 on January 30, 2018, 02:27:04 PM

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?

"Production" of bitcoin is no different in terms of electricity consumption from any other production capacities. Perhaps it is even more "environmentally friendly". We live in the industrial era and it is impossible to imagine our life without production capacities .

Ocha Bacoh

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Yes, can. and depending on how we use them.

samvel86

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Yes, there are bad things that can affect our environment. But if we try to think about the good effect of bitcoin in our environment, there are many advantages .. Investing in bitcoins is good, but that does not mean that you will need to invest all your savings / money in it, just make it another source of income so that your money does not stagnate, and you can earn more. Of course, bitkoyn is digital. It does not need paper, etc. This is a future technology.

elghoniya

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Quote from: Cardan0 on January 30, 2018, 02:27:04 PM

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?

Of course, Bitcoin is digital. It is not need paper etc. It is the future technology.

jhache

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The only good use case of bitcoin miners is that it produces heat and this heat can be used to keep your homes hot during winters. Other than that I don't think there is any other use of bitcoin miners. Other wise bitcoin is just bad for the environment and uses too much electricity when there are alternatives to mining.

Ahmadarwani56

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I think bitcoin increase the cost of electricity because menambang continuously, and make lungkungan disturbed.
Because it can be a burden the state.

leath08

newbie

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There is so many things to take into account.
If you was to say it was better for the environment because of this, then someone would have an argument to disagree with you.
Good question but one that you can never have a definite answer for.

GrannyC

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Thank you for rising this topic, there is plenty of non-sense about bitcoin just because people don´t understand the immense benefits for society that derive from it.

Argie021213

newbie

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It is up to the people on how to use bitcoins for good or bad in the environment. In my opinion,these forums could also be used to save the environment by raising awareness to the users about environmental issues and they can promote advocacy and projects to help save the environment. They could open a campaign to raise funds for the rehabilitation of the environment too.

luckybegum3907

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cryptocurrency generally requires a considerable amount of power so it also affects some of the environment. At present, miners are increasingly adopting alternative sources of power for mining to limit the environmental impact of bitcoins. , I think we already see a lot of transaction here in the different wallet so means there's a lot of jobs because people make a transaction. Then the distribution of social resources will be chaotic. the point is that the miners must find a renewable energy such as solar energy, wind power or water but honestly when we compared it to the banks surely banks have a worse effect on the environment than bitcoin.

Granslam

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Yes in a sense bitcoin does help preserve the environment. Imagine the factories and mining quarries that would be turned into fertile lands suitable for habitation of wild animals in case bitcoin would thrive. We may alleviate the damage of our carbon footprints by using the waste energy to something useful like a recycler.

lyks15

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Yes there are bad things that biycoin can affect our environment. But if we will try to think the good effect of bitcoin in our environment there are many benefits. Let us think, when the illegal loggers will learn about bitcoin maybe they will stop cutting trees that cause landslide or floods. When unemployed people are going to learn and do bitcoin they will earn even when they are not have any diploma or even they are not a college degree holder. Bitcoin can lessen criminality also when criminals are going to learn bitcoin they will not do crime anymore. I think we need to focus in the good things for our goals and dreams.

Ronni

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For me, bitcoin is bad for the environment because it consumes more energy,specifically electrical energy. A good example for a huge usage of energy are the mining sites which are composed of many CPU's and it really consumes energy. Another are the people around the world who are using computers to make bitcoin, they are spending their time too much in the computer that leads to usage of energy too. For me, it affects the sources of electrical energy because there are millions of millions of people who are using electricity in the process of obtaining bitcoin.

Ranly123

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Quote from: Cardan0 on January 30, 2018, 02:27:04 PM

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?

How can it be bad for the environment if it is all digital which do not need resources that can affect the ecosystem. Though it uses electricity for minig, it does not mean i could totally corrupt the environment.

swogerino

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At the moment mining Bitcoin is not so energy efficient. Many miners including small home miners are mining with normal electricity adding to a small pollution in the environment. Countries like Japan which are far ahead in every aspect of Bitcoin are investing a lot of money in Wind Turbines farms and I believe this to be the most perfect source of energy and to be also clean for the environment.

Cardan0

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Quote from: bjjobg55206 on January 31, 2018, 01:01:38 AM

Quote from: ?? on ??

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.

Compared with the traditional monetary system, the energy consumption of bitcoin is not only its fatal wound, but can be said to be a very economical. Bitcoin consumes a lot of power, but it maintains the operation of the entire Bitcoin network supported by the network. No need for a banknote printing machine Mint, do not need the central bank and the banking system at all levels, do not need complex international exchange system.

A systema such as bitcoin can also benefit from using the net services in places where there are more renewable sources or electricity is cheaper. So it is, in a way, decentralising the cost of the banking system.

Cardan0

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Quote from: Casmania on January 30, 2018, 10:13:35 PM

Quote from: ?? on ??

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.

I would suggest that government in any country must have to adopt the renewable source of energy that is applicable to them such that people from that place may use this source of energy when doing the bitcoin mining operations which requires more electrical power consumption. With this, I would say bitcoin may continue to be good for the environment with no harmful effects to mankind and business transactions will continue to flourish.

Renewable energies are also scarce, that means that even if you use renewable sources, you are using electricity that could potentially have other uses, so it is not impact free in any case.

Cardan0

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Quote from: Eternu on February 01, 2018, 02:22:12 PM

Quote from: onnz423 on February 01, 2018, 09:11:31 AM

Quote from: Cardan0 on January 30, 2018, 02:27:04 PM

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?

If you add up the total power required for the visa banking system, all the ATMs, all the card machines, all the servers, I am pretty sure it exceeds bitcoin. In any case, power requirements should never be used to put something down. Energy production via renewable sources is increasing, and an increase in power consumption might actually promote investments into better renewable tech. In the end, energy will be less of a concern when our production easily exceeds our usage (fusion anyone?).

That is correct, we must look at bigger picture here. We can not speak about bitcoins power usage for mining, and not speak about banking system that we have now.

For people to be able to use bitcoin, we do not need banks and many other things that comes with banking system (but i believe that banks will find their way into dealing with bitcoin). All we need are those miners, which use less electric power than all banks.
Also there are people in Sibir who made heat system for their houses from crypto miners, which mean that power that miners use are not just for mining.

From this even a person which knows nothing about bitcoin can see that this is nothing bad a farce. In which bitcoin will be presented as an bad for our environment.
There is no denying that we need to do something about energy production via renewable sources, because we have only this planet.

I also read an article in a blog that compares bitcoin use of electricity with many other life activities, such as the light on futbol stadiums or the excesive lighting of many cities, not to mention heating waste.

Mickznet

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It depends on what power source you are using in bitcoin mining, if your using renewable source of energy bitcoin is good to our environment.

Ian Dave

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Yes, I think it would be good for our environment because it can lessen the number of unemployment and can give a money for the people to have a work. It helps them to be wiser in trading and investing.

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