Mining consumes a lot of electricity. In most states electricty is still produced by old factories, that use coal, oil and other raw materials. Therefore, production of electricty makes enormous contamination of atmosphere. Nowadays, mining becomes such kind of mainstream.
Can we assume that our planet is dying much faster?
Can we assume that our planet is dying much faster?
That's why many developers are talking about switching to environment-friendly algorithm alternatives like PoS (Proof-of-Stake) for the future of bitcoin. Also, Satoshi's vision for PoW includes quantum computing to be a part of the mining process to 'at least' lower the amount energy needed by these bulky mining rigs.
Can you please enlighten me on quantum computing? And how it differs from the current mining propagation?
I believe that if Bitcoin goes PoS (which is really good and will undoubtedly save too much energy that these "bulky" mining equipments are consuming), its value will bust and become dust (possibly) because they are buying it as mining is the only thing that's giving much better rewards which I believe that even after implementing PoS, they won't be getting and even if they do, it will be worthless. They are not mining, they are "working" it out to support the whole network which is needed under the protocol.
