Topic: ENVIRONMENTAL SUSTAINABLE CRYPTOCURRENCY (Read 192 times)

Honestly Bitcoin is the best sustainable cryptocurrency.


Bitcoin mining is a game of finding the cheapest, most wasted electricity. Naturally that is eventually going to settle on ONLY wasted electricity, because that will be far cheaper than competing with electricity used by society.

There just has never really been anything before that has operated in this way. So Bitcoin mining started out just being done on computer on the grid, then it became a big industry and tended to find power generation areas with low use like big hydro electric areas, as well as areas with excess cheap fossil fuels. Then it became really big business and now is starting to operate at power plants, using excess energy and strengthening the power production industry, which is great for society. Still early staged of this transition though.

Eventually, when society moves more significantly to renewable resources, Bitcoin is going to be a huge boon to those generation stations by having miners pay to operate on excess power, making renewables even cheaper. As well as building out renewable power plants in stranded locations to secure the bitcoin network with stranded power.

Only reason people today think Bitcoin mining isn't environmentally sustainable is because they don't understand how it works, the economics of it, the point of it, the market forces at play in the mining industry, and because society still uses a ton of fossil fuels so anytime bitcoin miners use fossil fuels people (hypocritically) say its bad while they go home and use fossil fuels themselves, and finally because we're still at the stage of the development of the industry where some people are still running mining operations on-grid competing with household power needs, raising power costs for people. Bitcoin mining is kind of in a somewhat ugly middle growing phase. It's direction as a powerful environmentally sustainable good for society is already obvious to those fully versed on the mining industry, but the reality today is that much of the mining is still exhibiting the sort of bad habits that will eventually be eliminated by market forces, like still lots of fossil fuel use and raising energy bills in some places. Any business in the mining industry should be focusing on gearing their operations toward renewables, excess, and stranded energy, as that is the natural direction of the industry due to market forces, and the sooner mining goes to that the less flack Bitcoin mining is going to get from politicians, the media, and the average person who doesn't know better and just repeats what they see in headlines about bitcoin mining.

we understand that bitcoin is decentralized and outside of governments regulations but that's not to say that if the activity of miners goes against the government regulations and is contributing to destroying our ecosystem we should support it. That being said, there are far worse industries whose activity impact our ecosystem negatively compared to Bitcoin and yet the government isn't saying much about it because they are directly or indirectly benefiting from it.

Since Bitcoin mining has been discouraged in different parts of the world, the number of miners has not grown as it should have grown and there had been modifications and improvements in the whole energy consumption rate that has made Bitcoin mining environmentally safe foroay users.

Well op this your topic choke, truly there is high energy consumption and emissions but state it's course by Blockchain is what I will not but I have no evidence.

What I can only say is that fosifuel and the oil drilling has more effect as many carbon is released in the process, but the carbon can be cut down if renewable energy is used during the process.

Why do you need regulation into everything? Crypto currency is the only space that is still not fully controlled by the governments. This is the only place where people still can enjoy financial freedom and privacy. Why do you want to bring in regulation into such a space?

If the currency system needs to be environmentally friendly, ask your government to stop printing money. Bitcoin is an ecosystem which uses for more less energy than any other traditional financial system. Let it remain that way.

There is absolutely no need bringing up this discussion, you possibly should have used the search function to find other topics on this same subject that have been discussed in previous time, you could have also continued the discussion where it stopped if you believe you have something different from that which other users have said or contributed, for I believe some of those threads are still open for new contributions.

We have gone past the stage where we should still be talking or discussing about the effects mining bitcoin has on the environment, there was a study that was carried out and at the end, it was discovered that bitcoin mining was around the fifth or sixth place out of top ten things that can be mined and could have some kind of negative effect on our environment.
And let me also say that is we talk about the electricity consumption of mining bitcoin, the gaming industry consumes far more electricity than mining bitcoin does.

All this negative effects mining bitcoin has on our environment are topics I believe that was started by some bitcoin haters, in a bid to discredit and discourage the use of bitcoin on our society.

So you decide to create a thread on Bitcoin Discussion against Bitcoin without attaching any source of your information and zero statistics to back your wordings, not a great way to move ahead on this forum with these type of posts. If you are only doing it for increasing your post counts, go ahead otherwise no one will be willing to merit you on the basis of these crap posts. Think again.

And how do you think that bitcoin mining has negative impact on the environment the way the natural resources controlled by the government have hazard on lives including plants and animals, maybe you should take little of your time in going through this thread in reading more on what has already been discussed about how bitcoin mining is environmentally friendly.

Debunking bitcoin energy in mining bitcoin by fillippone
https://bitcointalksearch.org/topic/m.56613804

Don't let the government or social media poison your mind concerning bitcoin mining because there's no rising issue on the impact of bitcoin on the environment.

do you cry over the amount of homes that watch netflix.. if you ad up the hours of electric used for just netflix, would it shed a tear in your eye and require TV inspectors to come to everyones houses to energy rate their TV's and audit their netflix usage
what about everones washing machines

like you previously state the move of renewable sources is a crucial statement. However that doesn't justify that the heavy mining of bitcoin by miners does not have a negative impact on the environment. in defense of my reason there should be an awareness to transition into renewable sources.

Then that means that I'm right, that bitcoin doesn't have anything to do with all this problems. Because if it did then people would be saying it even the miners that are directly involved in bitcoin mining would be saying about their impact if they've got any. I think we all should start not blaming anything or anyone, we should probably start doing something about how we get those energy, that's the simple solution to what you're trying to protest about, utilizing the renewable energy is probably the best choice here if you want, or you could also go nuclear energy route, that could power a civilization. But those solutions, they're not that easy to be implemented because they're going to need resources to build and a government and people that supports that kind of project.

Nowadays Bitcoin mining activities have become more efficient and greener compared to several years ago. Many Bitcoin miners have started using renewable energy to support their Bitcoin mining activities, and this provides a good opportunity to reduce the carbon footprint of Bitcoin mining globally. The facts show that energy usage in Bitcoin mining is even lower than banking (https://www.nasdaq.com/articles/research:-bitcoin-consumes-less-than-half-the-energy-of-the-banking -or-gold-industries), so attacking Bitcoin because of its energy use and environmental sustainability issues is just propaganda made up to distort people's views on Bitcoin.

You've indeed point out a valid point. that is the source of consumption isn't the issue but rather the source of power. As the world keeps emerging there should be a call for renewable energy

no there is not

bitcoin takes care of itself
did you know bitcoin only has 2.5m miners
did you know that 1 miner that uses 7-35 PC's(pc can be 100w-500w) worth of energy has the efficiency rating of hashing 200,000,000 pc's worth of CPU hashrate

if we were to go back to CPU mining days where it was cheap enough for everyone to be part of a pool and take a cut of rewards, people would be using far more then 70million PC's of electric, which would be same electric use as bitcoin asics. but the security of the network would be that of UNDER 1 asic's hashrate

as for carbon and all that crap.. its not the end user fault for what the power plants use as fuel.. take the argument to the energy providers. dont blame the energy receivers.
if its not used.. then that is a true waste. blame the energy providers production, not the end user

if you really want to point at a end user that can cause issues to national grids.. -> EV cars
they demand 74kw in 20 minutes to recharge. and no grid can predict when and where to next surge of demand will be compared to a sustainable predictable rate of just 3.5kw/hour constants per asic
and as i said there are only 2.5m asics world wide. yet EV cars are more then 2.5m cars... so ev cars are more of a headache to energy sustainability and grid surge

1 asic has ~13kg of material weight
1ev car has 1500kg of material weight
meaning the entire world asics materials of 2.5million asics is equivalent to just 22k ev cars.. not even one small towns worth of cars materials

It's not the power consumption of bitcoin that's the problem, it's the power source that's the problem, if we continue to rely on fossil fuels and heavy polluting energy sources, the issue would still be there even if you remove bitcoin out of the equation, the power consumption of a civilization will always continue to go up because there's more people around and resources that needs to be created and those require energy so even if we say that we are ramping in energy consumption, pollution would still be a problem, another thing about this argument about cryptocurrency being a problem for the environment is that it's just a scapegoat, a way to distract us from the real problems that we're facing and it doesn't really give us any results even if we regulate cryptocurrency's power consumption, most bitcoin mines aren't reliant on fossil fuels already, some of them got a set up for a solar energy or wind energy.

Environmental sustainability has been a core issue these days because of the high energy consumption and carbon footprint due to mining activities. There is a need for proper regulation within the blockchain space.