We could use bitcoins to promote a healthy environment, raise funds for restoration projects,with its fast transactions only with the use of internet, no need for people to travel from one place to another to invest thus minimizing the
Car pollution and expenses in materials. Topics to post could also include facts concerning environmental issues which are very timely to make each one of us aware of it.
Topic: Can actually Bitcoin be good for the environment? - page 21. (Read 3226 times)
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?
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.
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?
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?).
When I read this topic I like it, because I think the bitcoin market is a potential market that can invest in to make a big profit, and of course it will also be more beneficial for the environment as it does not discharge waste to the environment. If a plant has a large amount of capital, such as bitcoin and investment, to generate a large profit such as bitcoin, it is likely to produce a lot of waste.
To make Bitcoin mining environment friendly we have to focus on renewable energy. We have to generate power from solar ,air and hydro. That's all.
Renewable energies are now a tendency and many of the projects that want to make bitcoin farms to industrial scale are located near the least expensive energy source at the moment - Hydro power - So actually they do already use renewable at large scale.
Obviously, even if so, the energy could probably be used in other applications, so is not 100% friendly.
I can not deny that bitcoin has a bad effect to the environment, although it is not large i mean we're living in the technology era where those technologies definitely have a bad impact to the environment, for example, source of electricity that coming from coal or diesel oil, 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, for example, is cash imagine how many trees have been felled to print the money.
Yes, bitcoin is good for the environment. It does not have any bad effect on the environment. May the consumption of electricity for mining of bitcoins have some effect on environment. But nowadays we many sources of energy which never gonna exhausted for ever like from wind, sun and water.
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.
agree it is really a technological development that affects our environment but where initially stayed a lot of obstacles but after now well developed many people are starting to realize and join.and until now a lot of income for those who have joined
It's almost impossible that the existing banking system uses more electricity (per transaction) than Bitcoin does.
Miners receive the block reward of 12.5 BTC (currently about $125,000) every ten minutes, and in addition to that it has transaction fees. Apart from the relatively small profit margin which they attempt to make, miners will use electricity (almost) proportionally to the value of the BTC they receive for mining a block.
I'm not saying that the existing banking system is efficient, but even articles like this one that give an attempt to crunch numbers from a pro-Bitcoin perspective end up finding that Bitcoin is extremely inefficient if you think of it per transaction rather than as a whole.
Proof of work is not necessarily a "waste" of electricity - it's important for security - but let's not pretend that the electricity isn't getting used.
Miners receive the block reward of 12.5 BTC (currently about $125,000) every ten minutes, and in addition to that it has transaction fees. Apart from the relatively small profit margin which they attempt to make, miners will use electricity (almost) proportionally to the value of the BTC they receive for mining a block.
I'm not saying that the existing banking system is efficient, but even articles like this one that give an attempt to crunch numbers from a pro-Bitcoin perspective end up finding that Bitcoin is extremely inefficient if you think of it per transaction rather than as a whole.
Proof of work is not necessarily a "waste" of electricity - it's important for security - but let's not pretend that the electricity isn't getting used.
Actually, your article just further proves my point, it states that BTC is x60 more efficient, even if it is probably not an objective source. You should take into account the huge waste of the whole system: office buildings, people using fuel to go to them, the immense waste of construction. Even if you were using renewable energy sources, you are using lot of energy that is not directly used to ensure the safety of the net.
A completely different thing is considering the process efficient in itself. I don´t picture BTC going PoS in any future, short or long term, since as today, forks are based on hashing power and the mines are not going to take the first step to self destruction.
Let´s not pretend that I have said that electricity is not being used and let´s put some numbers to the waste of the traditional sector before accusing bitcoin (and Alts for that matter).
I think if this is done, it will result in the unemployment of the great majority of people. Then the distribution of social resources will be chaotic. At that time, people may become bitter about Bitcoin and people will be afraid of things they do not understand.
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.
Bitcoin or any other crypto currency does not pose any threat to the environment. This problem is far-fetched. Yes, electricity is used to extract bitcoin. However, it can be extracted from environmentally friendly sources, such as solar energy, wind energy and others. These sources of energy are inexhaustible. Also, the heat that is generated during the extraction of the crypto currency is also clever. It would be a desire and this process can be used not to the detriment of nature and ecology.
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.
You guys think that gov's care about the enviroment, thats so cute of you !
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.
Not only is Bitcoin a common good it is the best good to hit the human race since the invention of the car. It doesn't feel like we are living a time changing era but that is what is happening before our eyes, we are changing the way the world lives and it is awesome 
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Bitcoin can actually be good for the environment because it is a paperless transaction. It can be good also if the place of the mining uses renewable energy like putting up solar panel for energy consumption. j
You can use some solar energy, wind power, water power generation, instead of traditional coal to power supply!
The carbon dioxide produced during mining can be effectively controlled and converted into something useful!
BTC has reduced the issue of paper money to some extent, and the number of trees being cut down is decreasing!
The carbon dioxide produced during mining can be effectively controlled and converted into something useful!
BTC has reduced the issue of paper money to some extent, and the number of trees being cut down is decreasing!
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?
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?
well bitcoin will be opposed for various reasons, defending it will be the problem of those that are invested with it.
cryptographic encription will become more mainstream, anyway, miners will have distributed stages by then.
depending with what you mean for the environment the answer is:
wildlife always losses area/space due to bitcoin, but it will adapt anyway, changes will happen anyway.
there will be in some areas communist outrages, all depending on how the people are living with,
The financial system was threatened 100 years ago by free clean wireless energy and they pulled all funding from Nikola Tesla and destroyed Wardenclyffe tower and everything associated with it. 100 years later the financial system is once again being seriously threatened by something else cryptocurrency and its using a energy problem its responsible for as its primary weapon against this threat. If bitcoin succeeds and frees people to truly be able to innovate without limitations it is highly likely that what we currently perceive to be a waste of energy will be a joke and the world could be a very different place.
Yes it's open a lot of job's so if you earn it's good to the economy of the country because you have money that can go in your country,i think we already see a lot of transaction here in different wallet so means there's a lot of jobs because people make a transaction.I think the conveniece in crypto are so much many and good not like the not good of it,we can think like that.
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