Bitcoin is already mined by 80%.
In 2020, we will receive a smaller award for mining up to 6.25 coins per block, 3.25 coins per block in 2024 and 1.56 coins per block in 2028.
Most of the coins will be mined until 2032. With the current situation, the bitcoin rate should grow strongly, so that its mining would be profitable.
The cost of electricity in many countries is constantly rising, new technologies for mining do not give a big reduction in consumption.
The question is why these grief analysts do not consider energy consumption for the banking system around the world. Data centers, ATMs, offices. Why does no one say that the banking system is threatening the planet?
Topic: Is Bitcoin Destroying the Planet? - page 2. (Read 464 times)
It could just be a great step in progress of renewable energy sources. If miners will stop focus only on earning money, and start to invest in future, I think it will make the world better. Like companies that develop robots with solar panels which are handling farmer´s lands. Which will lead to decreasing of food price. What else we need? Almost free food, free energy and homes for everyone. All this things are possible with opportunities that gives us bitcoin.
The key is just that right instrument should be in right hands.
The key is just that right instrument should be in right hands.
Quote from: https://www.ecowatch.com/iceland-worlds-largest-clean-energy-producer-per-capita-1882105880.html
With the price of the Bitcoin rising, fears are mounting that the mining centers are consuming too much electricity (to the extent that some call it an environmental disaster).
Smari McCarthy of Iceland's Pirate Party says"We are spending tens or maybe hundreds of megawatts on producing something that has no tangible existence and no real use for humans outside the realm of financial speculation"[1]
Although the main use of Bitcoin is not speculation, [for example, in some countries, bitcoin used to request medicine and food from outside of the country because of local currency problems] however, the consumption of this amount of electricity is not justified.
If electricity consumption is the problem, why miners do not focus on renewables?[for example, In Iceland, electricity supplies from renewable sources are so abundant that they can be distributed free of charge][2].But if the use of bitcoin mining from renewable sources increases, does that threaten the future of energy? "We will not have enough energy for future generations"
Smari McCarthy of Iceland's Pirate Party says"We are spending tens or maybe hundreds of megawatts on producing something that has no tangible existence and no real use for humans outside the realm of financial speculation"[1]
Although the main use of Bitcoin is not speculation, [for example, in some countries, bitcoin used to request medicine and food from outside of the country because of local currency problems] however, the consumption of this amount of electricity is not justified.
If electricity consumption is the problem, why miners do not focus on renewables?[for example, In Iceland, electricity supplies from renewable sources are so abundant that they can be distributed free of charge][2].But if the use of bitcoin mining from renewable sources increases, does that threaten the future of energy? "We will not have enough energy for future generations"
Source:
#1 https://arstechnica.com/tech-policy/2018/02/in-iceland-bitcoin-mining-will-soon-use-more-energy-than-its-residents/
#2 https://www.ecowatch.com/iceland-worlds-largest-clean-energy-producer-per-capita-1882105880.html
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