Energy used to mine Bitcoin with other industries. - page 2.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: Marvell1 on June 09, 2022, 11:56:36 AM

There is an African adage that says "When Tiger wants to kill an Owl, it will say that the Owl starred at it rudely." That is the regular reason and/or excuse that Tiger users to kill Owl whenever it is hungry.
This works for Tiger because, by nature Owl is created to always turn its eyes in a rudely manner.

Relating the above adage to bitcoin;
Whenever the government wants to attack bitcoin or ban a minning rig, they will use the energy and carbon emission stories to cover up.
The miners cannot do anything because it is the nature of bitcoin. But we all know the facts.
We can only encourage miners to go green and in no distance time, this will be a past story.

Charles-Tim

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According to this year CoinShares report, this was the conclusion:

Quote from: Charles-Tim on February 01, 2022, 06:31:40 AM

Conclusion
In the grand scheme of things, the carbon emissions emitted by electricity providers supplying the Bitcoin mining network are inconsequential. At 0.08 % of global CO2 emissions, removing the entire mining network from global demand—and thereby depriving hundreds of millions of people of their only hope for a fair and accessible form of money—would not amount to anything more than a rounding error.

If bitcoin is only contributing 0.08% of the global CO2 emissions, that is not significant. According to your graph, see to what large extent other industries are contributing to global warming.

You still represented only carbon emissions but not only carbon is even contributing to global warmin, there are other gasses like methane, nitrous oxide in parean (laughing gas), fluorinated gases, sulphur hexafluoride etc that are responsible for global warming while methan is the most potent of them all, some of the gases may even be released to the atmosphere by some industrial activities.

hatshepsut93

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Now compare utility of Bitcoin and other industries. Gaming brings entertainment to billions of people. Banking industry is the fundament of finance in every country. Data centers make the modern Internet possible. Without transportation, global economy wouldn't be possible. If any of those things were gone, it would be a catastrophe to humanity as a whole. If Bitcoin would be gone, it would only affect some tens of millions of people who use it as an investment. For governments that want to reduce emissions by their country, banning crypto mining could be a very low-hanging fruit.

coupable

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Quote from: Rruchi man on June 09, 2022, 02:40:46 PM

When some persons do not like something, they amplify the negative effects of it to try and discourage or stop it's use, but that being said it is not justifiable that because the percentage of carbon bitcoin mining contributes is small, that it should be ignored. The use of safer and renewable energy sources should be encouraged.

I totally agree with you in your assessment of this aspect of the matter. This leads me to think more about the energy that is used in many industries that are not needed, for example, the manufacture of firearms of all kinds, tanks and all combat mechanisms. Why is it not addressed in the same logic?

TimeTeller

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Quote from: Rruchi man on June 09, 2022, 02:40:46 PM

Quote from: Marvell1 on June 09, 2022, 11:56:36 AM

Looking at the data, we can see that Bitcoin accounts for only the smallest share of carbon footprint/environmental pollution and global warming.

When some persons do not like something, they amplify the negative effects of it to try and discourage or stop it's use, but that being said it is not justifiable that because the percentage of carbon bitcoin mining contributes is small, that it should be ignored. The use of safer and renewable energy sources should be encouraged.

Presently, estimates say about 57% of the energy used for crypto mining comes from renewable sources , we can do more and completely shift to zero carbon emission.

This is true, sometimes the media also highlight the negative impact of bitcoin mining.
Whereas, they neglect other industries which has bigger role in the global warming scenario.
People need to see the charts and the overall impact, so they will change their perspectives towards bitcoin mining.
But anyway, while we can't convince people to believe the facts, miners should really just explore the renewable sources.
This will keep these people from looking for loopholes of bitcoin mining.

Rruchi man

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Quote from: Marvell1 on June 09, 2022, 11:56:36 AM

Looking at the data, we can see that Bitcoin accounts for only the smallest share of carbon footprint/environmental pollution and global warming.

When some persons do not like something, they amplify the negative effects of it to try and discourage or stop it's use, but that being said it is not justifiable that because the percentage of carbon bitcoin mining contributes is small, that it should be ignored. The use of safer and renewable energy sources should be encouraged.

Presently, estimates say about 57% of the energy used for crypto mining comes from renewable sources , we can do more and completely shift to zero carbon emission.

Marvell1

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We do not deny that mining Bitcoin also creates a large amount of carbon into the environment and somewhat pollutes the environment, but it is nothing if we compare it with other industries.

I don't know how many people use Hybrid cars or Electric cars. But, according to the wired oct, 2020 report, only US gaming platforms consume around 34 terawatt-hours of electricity annually, so can you imagine how much electricity is representing the entire world for e-gaming purposes?
Source: https://www.wired.com/story/xbox-playstation-cloud-gaming-environment-nightmare

They are continuously promoting Esports by arranging international tournaments and making a dumb young generation. So, they are not concerned about the environment at all, things are something different here.

Looking at the data, we can see that Bitcoin accounts for only the smallest share of carbon footprint/environmental pollution and global warming.
All the reasons they gave were to hide their fears, fear of dominance, out of control ... Fear of Bitcoin.

Source pic: Messari and coinshares

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