Is Bitcoin affecting the Environment

gabmen

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Quote from: Harley29 on March 07, 2018, 03:15:54 PM

Quote from: trickyriky on March 07, 2018, 03:05:07 AM

Quote from: reymartH on January 02, 2018, 07:24:08 PM

As the value of bitcoin goes up, more computer power is required to solve the puzzles for unlocking the virtual currency

OK, but do you see any harm from it? Of course, it eats much electricity and virtual resources, but the influence is not so great in reality. meanwhile, some bloggers have their own viewpoint: https://www.youtube.com/watch?v=mo-n2-E4X0M

It is not that much money and electricity consumer but the benefits are higher than the lose, for sure bitcoin has provided many advantages to the blog users they use to make their blogs and switch to the bitcoin so this way bitcoin is getting famous and popular, increasing power of the bitcoin is a sign for those to invest as high as they can, now bitcoin made everyone socially attached as they are sharing knowledge with each other, sharing of knowledge about bitcoin can increase the interest of those people who are not using bitcoin right now so I think it can be prove a good step for the price and highly profit of bitcoin. Every one can say different but I want to say bitcoin made the environment at my home really good as I can provide my family everything what they need and it is just because of bitcoin.

Btc's requirements doesn't really have a direct effect, if it has an effect at all. Electricity can be harnessed through renewable energy if that's what you're concerned about. And there are even alts and icos that focus on the environment as well.

Harley29

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Quote from: trickyriky on March 07, 2018, 03:05:07 AM

Quote from: reymartH on January 02, 2018, 07:24:08 PM

As the value of bitcoin goes up, more computer power is required to solve the puzzles for unlocking the virtual currency

OK, but do you see any harm from it? Of course, it eats much electricity and virtual resources, but the influence is not so great in reality. meanwhile, some bloggers have their own viewpoint: https://www.youtube.com/watch?v=mo-n2-E4X0M

It is not that much money and electricity consumer but the benefits are higher than the lose, for sure bitcoin has provided many advantages to the blog users they use to make their blogs and switch to the bitcoin so this way bitcoin is getting famous and popular, increasing power of the bitcoin is a sign for those to invest as high as they can, now bitcoin made everyone socially attached as they are sharing knowledge with each other, sharing of knowledge about bitcoin can increase the interest of those people who are not using bitcoin right now so I think it can be prove a good step for the price and highly profit of bitcoin. Every one can say different but I want to say bitcoin made the environment at my home really good as I can provide my family everything what they need and it is just because of bitcoin.

trickyriky

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Quote from: reymartH on January 02, 2018, 07:24:08 PM

As the value of bitcoin goes up, more computer power is required to solve the puzzles for unlocking the virtual currency

OK, but do you see any harm from it? Of course, it eats much electricity and virtual resources, but the influence is not so great in reality. meanwhile, some bloggers have their own viewpoint: https://www.youtube.com/watch?v=mo-n2-E4X0M

Edrian

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Quote from: Displux on January 02, 2018, 06:13:10 PM

https://cryptodaily.co.uk/2018/01/bitcoin-affecting-environment/

Yes, bigtime, the cryptocurrency mining industries affect our environment due to the huge usage of the electricity, and electricity company use to much oil and coal to gives energy, imagine if you have a large number of computer units like Genesis Mining, it will use so much power and it will give a bad effect in our environment it can cost also global warming like other company that use so much energy.

Gracie12

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The cryptocurrency of pow mechanism has a large impact on the environment. The encryption currency of pow mechanism requires the support of graphics card calculation, which requires a lot of power consumption, so I do not approve of this kind of cryptographic currency.

Jazvebtc18

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Quote from: Spanopohlo on February 22, 2018, 11:27:33 AM

YEs! And most of it is in the positive way. From security, Transaction and the buy and Sell. But, they do consume energy that came from the environment and its a lot to power up the internet, PCs and other gadgets that helps connect to the cryptocurrency. From electricity we use, the different sources we get power from and all that mining are some of the things that affects the environment.

Definitely I agree with you. The sustainability concerns about bitcoin, voiced by economists and environmentalists, stem from the process of "mining" that is central to its existence.

The "miners" use computers to make complex calculations that verify transactions in bitcoins. This uses a tremendous amount of energy via computers and server farms all over the world, which has given rise to concerns about the amount of fossil fuel-dependent electricity used to power the computers. Some estimates say bitcoin's energy impact is more than that of a small country. So it really affects in our environment.

jelly19

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As far as I know, environmentalists are worrying about bitcoin mining's risk - that it's seriously hurting efforts to combat climate change. Bitcoin is slowing the effort to achieve a rapid transition away from fossil fuels. This article says it all: https://grist.org/article/bitcoin-could-cost-us-our-clean-energy-future/

mOgliE

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Hi,

Of course it is. In orderto buy/trade/sell/or even just talk about bitcoin on this thread, you need a computer. Your computer is made out of rare materials, coming from several continents. It has been designed and, assembled in different countries. It was shipped from one continent to another. Maybe several times. Then it was transported to a store. You bought it there (and maybe to go to the store you used a car).

This, is just about the "thing" you can touch.

But on top of that, when you are connected, you use electricity. For your screen, for Internet, maybe for some light in order to take care of your eyes. And then when you post. Or when you make any transaction. You are actually sending information through a vast network. This uses a lot of energy.

Total: yes, bitcoin is affecting environnement. Such as any other computer§relying technology. Wink

messi_oc

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The Bitcoin Energy Consumption Index shows that global digital "mining" of bitcoin consumes more energy than 159 countries. Nearly 10 U.S. households can be powered for one day by the electricity consumed for a single bitcoin transaction, according to the group, according to Digiconomist.
In other words, it takes a whopping 29.05 TWh (terawatt hours, equal to one million megawatt hours) annually to operate the energy-hungry computers and networks that power bitcoin transactions. That's about 0.13 percent of total global electricity consumption.
But do its benefits outweigh this drawback?

raniadaling

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Quote from: Alns on January 02, 2018, 07:27:45 PM

Why would it affect the environment? The only thing that can easily affect it is the mining, and the electricity that the miners need in order to mine.

But that is nothing compared to all the shit that the cars, the petroleum, and everything who has quimicals is doing to the whole environment.

Anyway, you are just trying to create a bad face of bitcoin, so it is a waste of time

I agree!
Electricity consumption and heat produced form these fast computers is nothing in comparison to emissions from transportation industry, petroleum, and even airconditioning systems that blows out harmful gases such as CFCs.
Add up open pit mining that destroy the whole ecosystem.
That one is news at the height of crappyness. sorry though

Spanopohlo

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YEs! And most of it is in the positive way. From security, Transaction and the buy and Sell. But, they do consume energy that came from the environment and its a lot to power up the internet, PCs and other gadgets that helps connect to the cryptocurrency. From electricity we use, the different sources we get power from and all that mining are some of the things that affects the environment.

hieuho381

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The exploitation of bitcoin consumes quite a lot of electricity, thus affecting the environment. There are now many projects using clean energy to exploit bitcoin, which is a good idea to save power and reduce the environmental impact of bitcoin mining.

yana0901

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Really traveling with Bitcoin there it's very cool because despite the rest you can constantly earn and monitor your profit.

Coffee135

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Electricity is the most clean in the ecological sense, the fuel at the moment. Even nuclear power stations have a very small impact on the environment. In the event of an accident at a nuclear power plant, the consequences can be tragic but this happens very rarely. The reason for these accidents is the human factor. Cars and other energy sources bring more harm to the environment. Prospects of use of alternative energy sources is also very high. Save the environment, we need other sectors of our life.

Sadum

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In my opinion there are still many other industries that affect the environment rather than bitcoin, and most of them wasteful affecting the environment do not do anything useful ...

Seeker#9

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The effects of mining bitcoin in the environment is minimal compared to the effects created by real mining industry, the pollution created by many kind of vehicles, factories and the man himself. This pollutions affected much of our environment and living things are getting killed everyday. Bitcoin or crypto mining can instead use any renewable energy like solar power to reduce dependent or consumption of electricity.

usechain

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Quote from: Displux on January 02, 2018, 06:13:10 PM

https://cryptodaily.co.uk/2018/01/bitcoin-affecting-environment/

I think even paper currency can have an impact on the environment. For example, cutting down trees and damaging the environment in large quantities, I think bitcoin miners can use more efficient machines and make full use of environmentally friendly and green renewable energy. This will not only promote economy but also reduce Damage to the environment.

Haunebu

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Quote from: hajimasan on January 27, 2018, 03:51:20 AM

Quote from: Displux on January 02, 2018, 06:13:10 PM

https://cryptodaily.co.uk/2018/01/bitcoin-affecting-environment/

I think yes , here it doesn't matter that what we are thinking but we should see real factors also that we are seeing .
A magazine that I seen once about 2-3 months back about the bitcoin that how it is effecting our life in positive and negative way .
There was something like to produce heat by the miners and use of electricity for the miners that are effecting the environment much .
But here we should not see towards such things which are not in actual are part of our Life to make effect badly because many other things are also effecting this world which are not taken in consideration by the writer .
Here we are happy with the bitcoin use and I think its negative impact is about negligible then what we have positive and better impact in our economical life .

Exactly my thoughts. Many people fail to observe the positive impact of bitcoin and simply tend to focus on all the negative effects of bitcoin and blindly spread FUD about it here and there which is truly stupid. Bitcoin has the potential to allow people to conduct financial transactions without any sort of government interference and is giving the power to the people which is just one of the positive points regarding this anonymous beauty. I do realize that bitcoin is affecting the environment around us in a big way, but this is a necessary evil and can be minimized to an extent.

jpespa

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Since bitcoin is computer technology, it requires electricity as its resource . Imagine how many transactions are being made daily the energy consumption depends on the size of transactions. As we all know we may have too many resources but they have limitations.

wnfmzm74

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Quote from: nghiahieple on January 03, 2018, 08:45:08 AM

I think BTC indirectly affects our environment.
Miners use electricity for their main purposes, but in comparison with others like: cars, paper, ... It does not habe enormous effect on our environments. In some ways, BTC helps reserve natural resources.

The bitcoin mining industry needs hardware and a lot of power that can damage the environment and the energy that bitcoin miners may consume, finding that the amount of electricity needed is equivalent to the amount of electricity consumed by 1.5 billion households a year and is likely to affect global resources and The use of energy.

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