Topic: “Green Cryptocurrencies” - they way forward? - page 2. (Read 535 times)

there are many ways to change every aspect of our lives with crypto currencies and Blockchain. Because crypto currencies are gaining popularity in the business world and in everyday life, more and more adoptions may be developed from these technologies. Not only is the financial world experiencing a revolution, but almost all aspects of life that require transparency will also benefit from the use of crypto as well as Blockchain technology.

I guess the whole cryptocurrency system is much more efficient than whole banking system.
But still you want too eco friendly then you can choose the centralized crypto currency just like current currencies by government (Though it defeat the whole purpose of decentralization revolution)

Have you ever thought how much damage we are doing by promoting urbanization? but still government/leaders are working toward more urbanization in name of development.

Capital YES, cryptocurrency has the potentials to trigger an eco friendly financial environment. The revolution brought by cryptocurrency has been embrace by many countries in the world and others will follow suits. Based on my analysis, cryptocurrency is not struggling for survival rather waiting for adoption to change the entire eco financial system.

There are alternatives that are more environmentally friendly, efficient, even though they are considered less profitable. In several other crypto variants, the Proof of Stake (POS) system has been used. In this process, it is not based on computational resources, published using a number of coins given by the miner as the main key.

All the potential cryptocurrencies are running smooth without any problems. So the matter of survival is not an issue here.
Though the shitcoins are struggling hard, they should probably be, they will end up turning into dust anyway.
The potential coins do have a bright future and I don't know about the eco friendly nature of them but yeah if we find alternative solution for energy consumption then it might trigger an eco friendly solution.
For example, if solar panels are used to generate energy which can be used for crypto mining then it might, in a way, trigger eco friendly revolution.

It would really depend on the crypto producers, if they think it's worth transitioning to greener energy. Take a look at bitcoin farmers in China. They mostly stay there coz of the cheaper electricity. Some even outright stole power they used for operations.

If the government make it more expensive for them, either they'd move out or invest in alternative energy sources. If it's the later they'll choose I'm expecting some might relocate to the desert areas and setup solar farms though they probably need a HUGE one.

I think so and as a matter of fact that is already happening, cryptocurrencies have already created an eco friendly environment that have revolutionized the whole financial system today.

Bitcoin is far from struggling, the adoption and the growth progress got a really positive sign and bitcoin has become bigger and bigger, but eco friendly is not going to happen, the mining itself consume a huge amount of electricity and the usage of bitcoin is going to increase the electricity usage because it need Internet and gadget

there is nothing cheaper than PoW, period. PoS is more expensive in game theoretical contexts.

One thing people just cannot argue against: Bitcoin is absolutely terrible for the environment. I say this as a Bitcoin holder, but it's always better not to be in total denial about the obvious.

it is only altcoins that are struggling hard these days because most of them are still in bubbles and are overpriced so they need to get dumped more before they can become healthy again. and on top of that they are useless so they always struggle at surviving because hypes don't last long.

as for "greenness" you have to know that the cryptocurrencies are the consumers not the producers so they can not decide where the energy comes from, they may create incentive for more green energy production but they can not enforce it as consumers.

Bitcoin are already the environmental friendly substitute for the energy hungry Banking sector and the pollution friendly reserve currencies. When you start looking at all the energy that are used to drive the Banking sector, you will understand why I am saying that it is not good for the environment.

Reserve currencies needs raw minerals like Nickel / Iron / Bronze and Paper & Plastic to create Fiat currencies and that is even worst for the environment when this is mined.  

Well, cryprocurrency had been up and down since it was created. We are actually way to far feom massive adaptation and the way it looks people, bussinesses, and the government is taking littlw steps looking into crypto on how will it be benificial and how to adapt it to be able to cope-up with the advancement of technology.

Something that has survive doesn't struggle for survival. It seems you have been away and not following the technological development but the price fluctuation. Forget the prices and look at the technological development of cryptocurrency. So You don't know the big banks are thinking of creating their own coins? Digital money is the way to go.

A few points.


Whenever I see articles on the energy waste of bitcoin people always fail to account for the fact that dense regions of bitcoin mining often congregate around cheap hydro electric power. Lots of chinese mining operations run off hyrdo electric power because it is so cheap. Same for the state of Washington, lots of people have flooded to Washington state for mining specifically in order to use their cheap renewable hydro electric power.
Certainly a lot of the mining power is not from renewables, but the pollution from bitcoin mining I think is always way overstated because the media never takes renewable powered mining operations into account.

I certainly would like crypto to be "green", though Bitcoin will never change from proof-of-work. It would be too drastic of a change for the mining community to switch to another protocol of securing the blockchain. A change from PoW would put bitcoin at grave risk and that will just never be worth it. The way to make bitcoin green, or greener that it currently is, is to move the world quicker to renewables.

I would totally support other cryptos using more eco-friendly protocols. There are plenty of other niches that cryptocurrencies can occupy other than bitcoin's global money and global store of value niche. Ethereum moving to Proof of Stake is an example.

How do you find out that crypto is struggling to survive?
the crypto is gaining supporters continuously and adoption is increasing

Regarding alternative energy
There are numerous and reliable projects developed solutions to energy problems as a whole and mining in particular ,will come into force soon.

To be honest everything right now is harmful for the earth.
Every company plays a huge part of it.
And so as we the consumers the cars or motorcycle that we drive ,
The instanr food and drinks that we consume, Not to mention the cigarette that we smoke.

very true
fun facts
pepsi-co waste more on electric to keep their bottles refrigerated than bitcoin uses. and that refrigeration cost does not protect bottles for eternity/immutably. it just keeps them cool for a short period before it ends up as human urine

fun facts
the funds raised by 'carbon tax' dont go towards planting new tree's in rainforsts. its actually wasted on corporations that develop land into new real estate by them buying up cheap land near waterways and then getting eco-grants to raise the ground level to reduce risk of flooding to their own private property.
(also yes some of the carbon tax ended up paying for some of them man made islands in the middle east)

Whatever, there are far worse things fucking up the world than cryptos. No one cares about it really, all the politicians that talk about climate change and all that shit do it to get votes, don't get confused.

that energy consumption index is wrong on so many levels

hers some logic
lets use the high of 50exahash
thats
=3,571,428~ 14thash asics which use 1.3khw
=4642857~ kwh
=4642.9 mhw = 4.6gwh
=40671gw per year = 40tw per year PEAK

we all seen that there have been more efficient asics in the last 6 months. so the number would be lower than 40tw/year
we all seen that there has been hashrates of under 40exa in the last 6 months. so the number would be lower than 40tw/year

the 'energy consumption index is using very outdated ASIC tech stats and not even calculating the asic stats vs real hashrates to get a true 'energy consumption index'

from june 2018-december2018 there is no way was the bitcoin network at 75tw