Topic: Could bitcoin mining solve climate change? - page 2. (Read 600 times)

One of the things where government and media do targets out the main issue about bitcoin mining is about environmental concern which we arent that blind that this one had been keeping pushed through to give
some blame and now we are talking about solving climate change? Dont know on where they do get that overall idea but it is really just totally opposing on whats the current trend as of this moment.
I dont see something relevant if we do talk about bitcoin mining and climate change issue but the fact people are targeting through it and throw it as a main issue without even
trying to look back on other  things which do contribute the most.

I also think that Bitcoin mining doesn't have as big an impact on the environment as mills and cars do. But If someone thinks a little more deeply, then their matter will be different.  For example, the demand for the equipment you need to use for Bitcoin mining is increasing day by day.  And we also know that mining requires a fair amount of electricity.  And electricity is produced by burning fossil fuels.  So indirectly it has an impact according to many.  But it can be easily eliminated by taking solar energy as an alternative.  And the world is now shifting  from fossil fuels to renewable energy.

Well! If they really meant it, why not? They can counter those malicious allegations of the people that are hostile to bitcoins and the crypto miners. If it really works, then they should consider making it real. After all, we will gonna have lots of miners in the future because we are heading into the new era of the financial system where cryptocurrencies will become known to the world and they will gonna use them as the means of payment for everything. right now, they need to focus to make the crypto mines environmental friendly, so that they won't create problems in the future anymore.

Bitcoin mining will not solve the climate problem. Not only Bitcoin, but humanity has yet to find a complete solution to the climate. To be sure, mining does have an impact on the climate to some extent, but only with a change rather than a solution.

All the things they are saying about bitcoin causing serious climate change are accusations because they have no way to stifle bitcoin, they are looking to put all the blame on bitcoin.

But you say bitcoin mining is not harmful to the environment is not entirely true, bitcoin mining requires a lot of energy and emissions are inevitable, that also contribute to environmental pollution. But what bitcoin causes is insignificant compared to other industries, they are exaggerating.

Methane gas has more impact on global warming than carbon dia-oxide. Climate change issue was back created before bitcoin came into existence. And even now the oil companies are not able burn methane completely before releasing it in the air. This methane can be used for bitcoin mining that could reduce the methane emission by 23%. Many miner have already started using methane for mining,

you are right, the release of carbon into the environment cannot be prevented no matter what kind of energy is used to mine bitcoin

bitcoin has become an industry and bitcoin mining like other industries needs energy and emits emissions, we should accept it,

the topics swirling around bitcoin causing climate change are just bullshit stories from bitcoin haters, why don't they mention other industries

Many certain parties say that bitcoin mining can change the climate and damage the environment, in my personal opinion such accusations are unreasonable I believe all these accusations are just a hoax from those who are not pro against bitcoin, they accuse bitcoin to divert the issue, Bitcoin mining is actually not totally damaging to the environment, in fact bitcoin mining is known to prevent bad climate change, avoiding global warming by 0.15 degrees Celsius.

Trees aren't the biggest contributor in the fight against climate change, that's what they want you to think while they pollute the oceans killing the algae that's making the most work, trees are more on the creation of habitats for insects and animals. And I don't think that bitcoin mining switching to green energy will be a big help too because there's still the coal industry to worry about and they're a juggernaut that's the biggest contributor in climate change. We don't have to worry too much about it though, in bigger picture, the humans will adapt or die and the world won't care because for the Earth, it's just a normal process, we just accelerated it.

Tesla wants a regular family who can't even pay thier rent monthly to buy a Tesla car. We are even now confused about whether to put food on the table or buy gas.


You can't expect everyone will really listen to this whole hour of podcast, maybe the timeline, where to listen to it, will be good to make the discussion easier. I assume you are Trent Fowler based on your username?

Climate change issues somehow are seen by leaders to be cloaked by political motives this is why counterparts on the otherside of the world don't listen. We outsource our productions to China so they can massively produce a lot of things while we can sit waiting for them to do the job and then later we accuse them of destroying the environment.

its always been to side of coin the other said can solve climate change the other it can't, in my opinion bitcoin it still major breakthrough and I do belive it can solve many problem with blockchain itself. for now maybe not 100% bitcoin mining using green energy that always been debate but time will tell

I'm not sure if bitcoin mining can have a big impact on the development and increasement of renewable sources of energy. In my opinion bitcoin miners' only concern is to run their farms paying the cheapest costs as possible with energy and structure. If it is going to be fossil or renewable energy it really doesn't matter for them.

Bitcoin miners can benefit from green energy advancements without any doubts, but bitcoin mining is unlikely to be benefiting or influencing green energy sector.

It does not need philosophy, but rather energy, regardless of its source. Therefore, as soon as you provide a clean energy source, Bitcoin mining will not say I do not want fossil fuel, just like what cars or trains need.

The issue of energy consumption as a whole is linked to the media exaggeration rather than a real problem.

Do not forget that people paying more and more exorbitant bills to purchase electricity/gas makes the expenditure of electricity under scrutiny.

actually the decision was not about that.

when inflation happens businesses know that the price of real world parts/products will increase in X months. so financially if they are sitting on a huge next egg of value. its savvi business to use that value to hoard parts while its cheap. to then not need to buy parts later.
then using the next years income to not need parts, they can re invest that back into assets that hedge against inflation.

and now you know why many businesses sold some coin. to pre-buy real life products before inflation hits those real life product prices.

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as for tesla's business plan
cars are big business. everyone has and needs a car.
there is no point getting into the fossil fuel car business as thats short sighted business doomed to die in a decade or so. so wasting billions to start up a business and factories in fossil based is a waste of money.
renewable is the future so starting an electric company is future proofing the business.
also. sidenode by developing solar, boring, and tesla for the earth transport industry.. is also actually R&D for its space industry
yep. moon buggies, drilling tunnels and solar is the tech space mining requires. so all the investment in the earth transport industry is R&D investment in the space projects, so again double future proof the business viability in the 15-100 year future
you can spot this because of all the tech cross over between his earth projects and space projects. and dare i say it soon he will get into the water collection/desalination projects too, advertised as 'green project' but reality is to gather R&D funds from government grants for its space industry plans

Well, Tesla only cares about profit. I guess you could say that Elon is trying to break the barriers, and become a pioneer in multiple industries, but ultimately I don't think they actually care about climate change as much as they let on. For example, he dropped Bitcoin simply because of the news surrounding it with climate change, yet he knows himself there's multiple industries that are much worse, but he dropped it like a sack of rocks.

Why? Because he wants to keep his green looking reputation when it comes to Tesla. That's the priority, not the truth. He'll continue to do what's best to sell his cars.

Some said Bitcoin mining would ruin evoirnment, while others said it can prevent the environment from being ruined. Take climate change for an example, by using methane produced from landfills and the oil field that would otherwise be flared, bitcoin mining can help reduce 0.15°C of global warming. By using methane produced from landfills and the oil field that would otherwise be flared, bitcoin mining can help reduce 0.15°C of global warming.But slove it? Don't think so. It's like the difference between "try to" and "manage to". Bitcoin mining can ease climate change but not solve it.

when power companies create a new power plant(renewable) they build not just to meet todays demand but the demand of future decades.
however that future demand is not used on day one. meaning power companies are not getting a full potential of income.
however by regions getting new business to move into the region of the new power plant. it can then fill the spare capacity, which then pays the power company more per year, which then (should) convert that extra income to then reinvest into transitioning other regions to renewable decades sooner.

so incentivizing asic farms of 1000asics move to a region in a couple months of invitation, knowing 1 asic is the equivalent to 2 new homes electric utility. a power company can get as much as 2000 new homes equivalent bill payments without having to wait decades for a region to actually build and house 2000 new families
and when real estate later on demands that power, the region can ask the asic farm to move out by not renewing their electric contracts or de-incentivise them from preferring to stay in the area. yep asic farms are more mobile than real estate

...
alot of people know that 'water cooling' asics cause the water to raise to very high temperatures
this can be used to heat homes or even used to 'boil' sea water to desalinate it as part of a process that can be used for many things.
lowering the cost of desalinating water then allows more water utility
..
investors that buy land to mine for rare minerals. which requires deforesting thousands of acres of land and ruining the 'topsoil' which makes land infertile after the activity, is bad for the environment.
however by investors 'for profit' instead investing in bitcoin. can still earn profit without destroying as much physical land

Renewable energy is not perfectly carbon netural. Renewable energy is better than traditional fossil fuel because it incurs less carbon footprint than those but it doesn't mean that it doesn't incur any at all. Building resources specifically to cater to those operations will inevitably result in even more pollution than not having it at all. This is a rather weak argument because the entire profits of Bitcoin mining cannot possibly impact the development of renewable energy to a noticeable extent.

Besides, miners gravitate to cheaper energy. If coal is cheaper than renewable energy, they will use coal or vice versa. All of the power plants have limited capacity and it would actually make far more sense to give those to the locals rather than for Bitcoin mining operations.

I don't have the time now to check out the full podcast, so I am kinda confused, is it related to mining being done on renewables, or that somehow BTC mining will help renewables get pushed into more adoption? The second one is highly unlikely, BTC mining is such a small percentage of energy consumption in total that it will not push change for more renewable energy. As for mining switching to renewable energy, that makes sense, but it will do nothing for global climate change. We tend to forget that, in the grand scheme of things, crypto is still really down at the bottom of the list.

How can you all be drinking the same fantasy juice, haha. There is no proven solution to reverse climate change, it is all theoretical (not to mention will take decades to prove). The only thing that seems plausible now is to slow it down, and that is about using less, not more.

Bitcoin may not be the carbon spewing demon people accuse it of, but it is not the magic pill that will unsink the Pacifics... Among other things.