Topic: Is it true that this cryptocurrency/bitcoin boom poses a threat to Earth. (Read 461 times)
June 24, 2021, 08:33:41 AM
There is really no threat, and many have already proved it. Crypto is safe for the Earth.
June 24, 2021, 02:11:56 AM
If indeed its growth is a threat to the earth, vehicle exhaust is the more dangerous air pollution for the earth. Moreover, goods that are not flammable.so that the accumulated waste is what is very dangerous for the pollution of the earth and humans, because Crypto consumption is not dangerous at all. for the threat of the earth in the future, because it is not a form of threat to the earth and humans
June 23, 2021, 06:59:43 PM
Bitcoin mining a most expensive process where the main elements should need power energies ( electricity and fuel energizes) . Most of the developing countries where it's a threaten to future generations.
Though bitcoin mining is energy intensive, however, people can always opt to use renewable energy sources to supply the energy needed. Treat bitcoin mining industry as another regular industry which needs electrical energy to serve its clients. And you will understand that bitcoin mining is no different than other industries that are consuming power. Aside from that, there are already other human activities that are wasting energy for nothing. Environmentalists and other entities are just highlighting the energy usage of crypto mining, but they forgot to look at the benefits derived from crypto industry.
June 23, 2021, 06:57:39 PM
Bitcoin mining a most expensive process where the main elements should need power energies ( electricity and fuel energizes) . Most of the developing countries where it's a threaten to future generations.
June 23, 2021, 09:12:55 AM
The threat is in the form of increasing global warming which results in climate change. Generating Bitcoin requires a capable computer to solve complex mathematical puzzles and high electricity consumption. so that some countries prohibit mining for several other reasons such as in China and Iran some time ago. if so will bitacoin and others be able to run forever or is this just an excuse to change the green field to red..
Sad but true. Mining is not the most environmental friendly activity
June 22, 2021, 06:31:28 PM
sometimes i am confused where is the natural damage from bitcoin mining???
Mining only uses electricity, right?
but as if bitcoin miners are the same as gold miners who are dug in 100 m in the bowels of the earth and abandoned after mining,
large-scale factories, plastics the government should first focus on the 2 biggest pollutants on this earth compared to bitcoin miners.
long story short the government doesn't want people to get rich from bitcoin and doesn't pay taxes on them, in my opinion
Mining only uses electricity, right?
but as if bitcoin miners are the same as gold miners who are dug in 100 m in the bowels of the earth and abandoned after mining,
large-scale factories, plastics the government should first focus on the 2 biggest pollutants on this earth compared to bitcoin miners.
long story short the government doesn't want people to get rich from bitcoin and doesn't pay taxes on them, in my opinion
It add the polution if the miners use pure electricity but I guess those capitalist don't care about it and just using that as an excuse just to make people confuse about bitcoin.
To know more about it read it here https://www.epa.gov/energy/about-us-electricity-system-and-its-impact-environment#:~:text=Nearly%20all%20parts%20of%20the,when%20a%20fuel%20is%20burned.
But I don't agree about the government doesn't want people to get rich since in the first place they are the one who will get benefit from it maybe they want to regulate it so that they can get tax from the users.
June 22, 2021, 06:07:14 PM
sometimes i am confused where is the natural damage from bitcoin mining???
Mining only uses electricity, right?
but as if bitcoin miners are the same as gold miners who are dug in 100 m in the bowels of the earth and abandoned after mining,
large-scale factories, plastics the government should first focus on the 2 biggest pollutants on this earth compared to bitcoin miners.
long story short the government doesn't want people to get rich from bitcoin and doesn't pay taxes on them, in my opinion
Mining only uses electricity, right?
but as if bitcoin miners are the same as gold miners who are dug in 100 m in the bowels of the earth and abandoned after mining,
large-scale factories, plastics the government should first focus on the 2 biggest pollutants on this earth compared to bitcoin miners.
long story short the government doesn't want people to get rich from bitcoin and doesn't pay taxes on them, in my opinion
June 15, 2021, 12:16:39 AM
China was already a threat to the Earth before Bitcoin.
June 14, 2021, 03:09:06 PM
NOTHING, man does short of a nuclear Apocalypse will "destroy the earth". And even then it will come back. Earth has been here billions of years and it will be here billions of years after mankind exterminates itself.
June 14, 2021, 03:04:29 PM
Signs of the Times , for anyone unfortunate enough to be on the same power grid as Bitcoin Proof of Waste Miners.
https://www.nasdaq.com/articles/how-texas-is-becoming-a-mecca-for-bitcoin-miners-2021-05-04
https://www.kxan.com/news/texas/ercot-conservation-alert-texans-asked-to-reduce-electric-use-on-monday/
Bitcoin miners have already removed the excess energy capacity in Texas that could have easily handled the heat wave,
next rolling blackouts thanks to the increased energy waste of bitcoin mining in Texas.
ERCOT asking people to suffer by not using their Air Conditions while greedy bitcoin miners profit.
https://www.nasdaq.com/articles/how-texas-is-becoming-a-mecca-for-bitcoin-miners-2021-05-04
Quote
Access to unique power sources and friendly regulations are driving bitcoin mining companies to set up shop in Texas.
https://www.kxan.com/news/texas/ercot-conservation-alert-texans-asked-to-reduce-electric-use-on-monday/
Quote
AUSTIN (KXAN) — The Electric Reliability Council of Texas (ERCOT), which controls the flow of about 90% of the power in Texas,
is asking residents to conserve power through Friday as temperatures in the state surge.
is asking residents to conserve power through Friday as temperatures in the state surge.
Bitcoin miners have already removed the excess energy capacity in Texas that could have easily handled the heat wave,
next rolling blackouts thanks to the increased energy waste of bitcoin mining in Texas.
ERCOT asking people to suffer by not using their Air Conditions while greedy bitcoin miners profit.
June 14, 2021, 02:11:57 AM
If it did pose a threat, we should've seen it a long time ago when the prices were still around a dollar per pop but no, I don't think that it is a threat and wherever you read that OP, unsubscribe to it because they are just trying to discredit bitcoin when we should be mad at the energy sector which creates the pollution because they are the ones that consume fossil fuels.
June 13, 2021, 11:10:51 PM
Gold mining consumes more power than bitcoin mining... the world's banking system consumes way more energy than bitcoin mining... nobody seems to be concerned about the power consumption of gold mining or the world's banking system. This narrative that bitcoin is bad for the environment is just foolish... do we need to provide the energy for bitcoin mining in a more environmentally friendly / sustainable way? Definitely, but to say that bitcoin is bad for the environment completely ignores all the good and freedom it can bring to the world. Is there a cost to everything that is useful? Sure there is. This narrative needs to change from "bitcoin is bad for the environment" to "how do we go about mining bitcoin more sustainably" or "how do we go about using more renewable energy for crypto mining" or "how do go about using more eco-friendly systems than proof of work for cryptocurrency".
June 13, 2021, 01:39:10 PM
The potential of humanity to create more. The earth is not the limit, not the universe, and maybe not the multiverse.
The heat from your computer is not wasted if you need to heat your home. If you're using electric heat where you live, then your computer's heat isn't a waste. It's equal cost if you generate the heat with your computer.
If you have other cheaper heating than electric, then the waste is only the difference in cost.
If it's summer and you're using A/C, then it's twice.
Bitcoin generation should end up where it's cheapest. Maybe that will be in cold climates where there's electric heat, where it would be essentially free.
If you have other cheaper heating than electric, then the waste is only the difference in cost.
If it's summer and you're using A/C, then it's twice.
Bitcoin generation should end up where it's cheapest. Maybe that will be in cold climates where there's electric heat, where it would be essentially free.
It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange.
I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
If there's something else each person has a finite amount of that we could count for one-person-one-vote, I can't think of it. IP addresses... much easier to get lots of them than CPUs.
I suppose it might be possible to measure CPU power at certain times. For instance, if the CPU power challenge was only run for an average of 1 minute every 10 minutes. You could still prove your total power at given times without running it all the time. I'm not sure how that could be implemented though. There's no way for a node that wasn't present at the time to know that a past chain was actually generated in a duty cycle with 9 minute breaks, not back to back.
Proof-of-work has the nice property that it can be relayed through untrusted middlemen. We don't have to worry about a chain of custody of communication. It doesn't matter who tells you a longest chain, the proof-of-work speaks for itself.
I think the case will be the same for Bitcoin. The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used. Therefore, not having Bitcoin would be the net waste.
As an overall point, I also do not agree with the idea that the very high computational burden of coin generation is in fact a necessity of the current system. As I understand it, currency creation is fundamentally metered by TIME - and if that is the fundamental controlling variable, what is the need for everyone to "roll as many dice as posible" within that given time period? The "chain of proof" for coin ownership and transactions doesn't depend on the method for spawning coins.
Each node's influence on the network is proportional to its CPU power. The only way to show the network how much CPU power you have is to actually use it.If there's something else each person has a finite amount of that we could count for one-person-one-vote, I can't think of it. IP addresses... much easier to get lots of them than CPUs.
I suppose it might be possible to measure CPU power at certain times. For instance, if the CPU power challenge was only run for an average of 1 minute every 10 minutes. You could still prove your total power at given times without running it all the time. I'm not sure how that could be implemented though. There's no way for a node that wasn't present at the time to know that a past chain was actually generated in a duty cycle with 9 minute breaks, not back to back.
Proof-of-work has the nice property that it can be relayed through untrusted middlemen. We don't have to worry about a chain of custody of communication. It doesn't matter who tells you a longest chain, the proof-of-work speaks for itself.
June 13, 2021, 09:07:58 AM
It can really be damaging for the earth if bitcoin will be mined abusively. Fossil fuel is needed in order for the blockchain to keep on running. If we can remember, Elon Musk used it as his reason to remove bitcoin as a mode of payment for Tesla.
I don't know how long some fans have always believed that this guy really cares about the environment just because he has rejected bitcoin. In fact, the electric car company is actually less environmentally friendly than ordinary cars in terms of manufacturing. Especially how he maintains the balance and sustainability of non-renewable resources for the next generation.
I read an article in my local media that:
English:
For ordinary cars, 20 tons (copper) per car, for electric cars it can reach 80 to 100 tons,".
Not to mention the need for copper for charging station components that require cables and others. Thus, it is estimated that the demand for copper will also increase quite significantly
For ordinary cars, 20 tons (copper) per car, for electric cars it can reach 80 to 100 tons,".
Not to mention the need for copper for charging station components that require cables and others. Thus, it is estimated that the demand for copper will also increase quite significantly
However, global warming can be prevented. But non-renewable resources will always continue to erode. Bitcoin is only a small contributor to the destruction of the earth, industries such as electric cars and other devices will continue to increase over time.
June 13, 2021, 07:57:49 AM
If I don't think so, there are still many other projects that are extravagant in the use of electricity when compared to the use of electricity to mine crypto. Because the use of electricity for mining crypto is still quite normal.
In fact, there are so many businesses that can cause pollution. Like a stone mill. The smoke is so intense that they don't realize they are damaging the environment with their work.
In fact, there are so many businesses that can cause pollution. Like a stone mill. The smoke is so intense that they don't realize they are damaging the environment with their work.
June 12, 2021, 12:35:51 PM
The threat is in the form of increasing global warming which results in climate change. Generating Bitcoin requires a capable computer to solve complex mathematical puzzles and high electricity consumption. so that some countries prohibit mining for several other reasons such as in China and Iran some time ago. if so will bitacoin and others be able to run forever or is this just an excuse to change the green field to red..
It can really be damaging for the earth if bitcoin will be mined abusively. Fossil fuel is needed in order for the blockchain to keep on running. If we can remember, Elon Musk used it as his reason to remove bitcoin as a mode of payment for Tesla. Also, most of the countries considers it as one of the main reason why they are not tolerating the use of bitcoin. It is not just an excuse, we may actually feel the pay back soon if ever people would keep on abusing mining. We should make sure that we are only mining enough not to the point that we are hurting the earth because all of our investment would be worthless when the nature gets its revenge.
June 12, 2021, 11:24:14 AM
The climate change threat is very real, and I truly believe it's going to be the biggest challenge of this century. But it's not a threat to Earth, of course, but to humanity. Earth will bounce back eventually, but if humans don't to something very fast, more harsh weather changes are coming, many places will be under water so people will need to relocate, and all this will cost tons of money to the global economy. But if only fixing climate change were so simple like quitting using cryptos. Crypto mining contributes to climate change, but that's because of the sources of electricity. Apart from energy sources, there's also transportation, the meat industry, deforestation and many other things. So we have to tackle them as a compound, not focus on a drop of water in the sea.
June 12, 2021, 11:09:21 AM
The threat is in the form of increasing global warming which results in climate change. Generating Bitcoin requires a capable computer to solve complex mathematical puzzles and high electricity consumption. so that some countries prohibit mining for several other reasons such as in China and Iran some time ago. if so will bitacoin and others be able to run forever or is this just an excuse to change the green field to red..
I somehow think that what government or people who hated Bitcoin are succeeding in convincing people that Bitcoin is type of threat to our planet.So how well do you know the process of mining Bitcoin as whole like ASIC machines,memepool, hasrate,miners, cryptographic puzzles etc? Some cryptocurrencies are using POS which do not need any consumption to find solutions for block so you need to know that also.Remaining the question of electricity consumption it has been discussed many times but in reality don't you know mining procedure have devastated environment from decades and cost of lives of many labour class.So we can also raise a question that is bitcoin taking life's of people unlike others activities like mining for metals like gold,coal,cobalt, lithium.
EV uses cobalt which is rare metal and they are exhausting it for vast consumption and destroying environment but nothing major discussion about them.Banks and other also uses high electricity consumption which is very less as compared to bitcoin.This only until 21 million coins are mined but other will still consume same or even more energy.So think about it.
June 12, 2021, 11:03:15 AM
I do not think that this is some kind of global problem, however, the problem of using carbohydrate energy in Bitcoin mining has been raised and governments will definitely use it in order to denigrate Bitcoin and other types of cryptocurrencies. Bitcoin consumes any energy that is available in the region, as well as other consumers. If the world as a whole switches to renewable energy sources, then this energy will be consumed by bitcoin. However, in the future, miners need to think about using solar panels or wind generators for mining, the production of which is becoming cheaper.
June 12, 2021, 10:54:53 AM
It has been shown that Bitcoin mining uses like 0.x% of world's energy consumption and much of that is green energy.
We must ask ourselves - is the risk bigger with or without Bitcoin in our world?
- My opinion is that the problems Bitcoin solves are directly or indirectly much more impactful on the global warming. I agree that governments should incentivise and accelerate green energy utilization and off-setting carbon emissions, but that is no reason to "ban" or discredit Bitcoin just because securing the network requires energy. Almost everything today uses electricity and none bring the benefits of the Bitcoin network.
We must ask ourselves - is the risk bigger with or without Bitcoin in our world?
- My opinion is that the problems Bitcoin solves are directly or indirectly much more impactful on the global warming. I agree that governments should incentivise and accelerate green energy utilization and off-setting carbon emissions, but that is no reason to "ban" or discredit Bitcoin just because securing the network requires energy. Almost everything today uses electricity and none bring the benefits of the Bitcoin network.
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