That's true and I totally agree with you, the current POW system is burning too much electricity and huge percent of the electricity usage in China goes directly to cryptocurrencies mining, that's why I assume that soon enough countries will notice it and will start doing steps to prevent people from mining so electricity waste will stop.
I believe that we are not really far away from switching up to POS, and once we do that we will no longer need to worry about electricity wasting.
Topic: The environmental problem - page 2. (Read 519 times)
Mining bitcoin is not so bad on this planet compared to the volume of the number of factories or also the oil and coal mining, all will be fine.
The only concern with bitcoin miners are they consume too much electricity which big factories also do the same thing. What I mean is, its happening that there's a shortage on electricity even before bitcoin comes because the demand for this are quiet increasing day by day and the supply are being lowered.
The Tree-huggers are all worked up by the amount of energy and electricity that are used by Bitcoin mining, but they forget
that Fiat currencies are much worst. These guys get worked up by FUD that are spread in the media and these articles
are mostly biased. Can you imagine how much damage is done to the environment to manufacture coins and paper money?
How many trees are cut down? Now paper/silk money is being replaced by plastic money in the UK, which is even worst.
that Fiat currencies are much worst. These guys get worked up by FUD that are spread in the media and these articles
are mostly biased. Can you imagine how much damage is done to the environment to manufacture coins and paper money?
How many trees are cut down? Now paper/silk money is being replaced by plastic money in the UK, which is even worst.
think about it this way..
if we were mining using GPU's the electric used by the network would be much higher but the difficulty(security from brute forcing) would be weaker
that said
the total 23exahash is about 1.8mill S9 miners
however
there are half a million ATMS in america
there are 6700 banks in america, many bank call centres, head quarters
(1.4mill employee's probably with access to a pc each)
then we have the background stuff like visa, mastercard and amex servers
and thats before you equate the fuel consumption of the secure bank note armored delivery vehicles and staff getting to work
and thats before you equate the physical resource consumption of printing bank notes..
if you done some maths you would see moving fiat around uses more electric and is less secure than bitcoin
in short FIAT is less environmentally friendly
if we were mining using GPU's the electric used by the network would be much higher but the difficulty(security from brute forcing) would be weaker
that said
the total 23exahash is about 1.8mill S9 miners
however
there are half a million ATMS in america
there are 6700 banks in america, many bank call centres, head quarters
(1.4mill employee's probably with access to a pc each)
then we have the background stuff like visa, mastercard and amex servers
and thats before you equate the fuel consumption of the secure bank note armored delivery vehicles and staff getting to work
and thats before you equate the physical resource consumption of printing bank notes..
if you done some maths you would see moving fiat around uses more electric and is less secure than bitcoin
in short FIAT is less environmentally friendly
Soon we will be forced in to using greener energy (not from fossil fuels) and then even if the cost of energy required for BTC rises it won't be anywhere near as bad as it is currently. Solar and Geothermal power are far superior to fossil fuels in terms of protecting the environment and these alternative energy sources should soon phase out the heavily polluting methods. In the long run I don't think Crypto will generate that great of an issue for the environment
Few algorithms already exist that are not using a lot of electricity, PoS and DPoS so you can relax. In my opinion they will be mass-used in a few years
Hello. I was thinking about bitcoin disadvantages, and I just realized how bad the bitcoin was for the environment. We are literally destroying the planet with mining. And it will get worse and worse.
I think, if we want the bitcoin to be a viable money we have to solve this problem. I was thinking about green energy.
What do you think about this problem, and how could we fix it?
If you really think that bitcoin mining is the root cause of global warming ,then i have nothing else to say,yes bitcoin mining does need huge amount of electricity and in future we might see people using green energy methods like solar and wind energy ,but one thing you have to understand is that,to mine one bitcoin you have to spend around $7000 including electricity and hardware and the price of bitcoin is justifiable and do you think it is not viable to spend that much. I think, if we want the bitcoin to be a viable money we have to solve this problem. I was thinking about green energy.
What do you think about this problem, and how could we fix it?
I do not see anything bad on bitcoin, which will affect the environment, bitcoin will run out, and bitcoin mining will end. but not for other altcoin mining.
that is, bitcoin has more positive things, you have to read a lot, how the crypto world can improve the world economy.
of course if they are willing to realize.
but it's back to us, how to use and manage bitcoin well. bitcoin is sensitive to its owner.
that is, bitcoin has more positive things, you have to read a lot, how the crypto world can improve the world economy.
of course if they are willing to realize.
but it's back to us, how to use and manage bitcoin well. bitcoin is sensitive to its owner.
Hmmm, i'm really doubt about your point, how can Bitcoin destroys the environment when it's just a digital currency?
Everything is relative. Bitcoin mining is really an insanely energy-consuming process. However, we should remember that in the case of Bitcoin, electricity is spent only on mining and blockchain operation. While maintaining, for example, a payment system, which is used by almost all people and often enough, is accompanied by additional energy costs. BTC is even more environmentally friendly than traditional payment systems. Also do not forget that the total number of bitcoins is pre-installed. This means that sooner or later the last BTC will be mined and the mining will finally stop.
We are literally destroying the planet with mining.
Do you have a source for this stance, or did you fall for sensationalism? Bitcoin consumes a lot of energy for sure, but it's currently still nothing in the big picture. Refer to this article:
https://hackernoon.com/the-bitcoin-vs-visa-electricity-consumption-fallacy-8cf194987a50
So banking is literally destroying the planet 3x (conservative estimate) as fast? You shouldn't look at things through a vacuum. Don't get me wrong; I also think the massive consumption is a problem. It's getting blown way out of proportion though.
OP, suggest you try to understand the context of the situation before making rash comments. Also suggest you understand how to use the word "literally".
Most people can agree that Bitcoin mining has contributed to quite a bit of discussion surrounding sustainability and efficiency, but the studies fail to take into account a comprehensive look at cost-benefit current conditions and potential. You can't ignore that there is already usefulness in what Bitcoin already does and what it further promises. Any useful industry has an associated cost.
Most people can agree that Bitcoin mining has contributed to quite a bit of discussion surrounding sustainability and efficiency, but the studies fail to take into account a comprehensive look at cost-benefit current conditions and potential. You can't ignore that there is already usefulness in what Bitcoin already does and what it further promises. Any useful industry has an associated cost.
Mining bitcoin is not so bad on this planet compared to the volume of the number of factories or also the oil and coal mining, all will be fine.
Now BTC's mines use a lot of mining companies to consider renewable energy (wind, hydro, solar) to power supply! These energies will enable the miners to give full play!
This is a reasonable utilization of resources!
This is a reasonable utilization of resources!
with very high bitcoin prices for now of course will be difficult to do mining activities because it requires a considerable cost to meet the needs of electrical energy. and if we look at the level of energy sources that must be supplied to conduct a mining of course this will affect the level of natural resource problems that affect the environment. and to overcome this in mining activities is I think in this case should not be done individually because now many companies are opening Veritas Mining with the aim to divert energy needs are increasing.
I was also thinking that Op is an environmentalists who is pointing out that bitcoin mining is dangerous to Mother Earth but not complaining using computer for games,, internet for days,, electricity with all appliances at home and using cars rolling around the neighbourhood..
Global warming is been a problem for decades even in time bitcoin is not yet being discovered.. How to fix it? The leader in the whole world with great minds /scientists/engineers are with them but it is still unsolved.. And you expect the bitcoin community can..
Global warming is been a problem for decades even in time bitcoin is not yet being discovered.. How to fix it? The leader in the whole world with great minds /scientists/engineers are with them but it is still unsolved.. And you expect the bitcoin community can..
It is not right to disrespect his suggestion by saying that other people are also harming environment in different ways. I think that people do not realize that by harming the environment we are putting pour life in danger. There is no point in making money at the cost of environment. However, as bitcoins are now a source of income for a lot of people we should look for ways to maintain a balance. For instance, suppose a company is involved in large scale mining of bitcoins. It is the social responsibility of the company to take some steps for preventing environmental pollution like by planting trees.
Hello. I was thinking about bitcoin disadvantages, and I just realized how bad the bitcoin was for the environment. We are literally destroying the planet with mining. And it will get worse and worse.
I think, if we want the bitcoin to be a viable money we have to solve this problem. I was thinking about green energy.
What do you think about this problem, and how could we fix it?
I think, if we want the bitcoin to be a viable money we have to solve this problem. I was thinking about green energy.
What do you think about this problem, and how could we fix it?
Here is a simple solution to the problem:
1) If you are making good money with bitcoins, invest some of it for making environment better. For instance, you can plat more trees by spending some money.
2) There are some of the coins that are mined with environment friendly methods. You can go for those coins if you are concerned about environment.
3) If you are involved in bitcoin mining and thus causing a lot of environmental problems, you should cut the use of other electronic gadgets that result in environmental pollution.
bitcoin mining indeed cost electricity, but it is not bad as other factory that produce waste even worse.
the cryptocurrency mining is still acceptable for our environment, as long as the wasted product low-harmful.
the cryptocurrency mining is still acceptable for our environment, as long as the wasted product low-harmful.
Where the ugliness is happening is money in bitcoin minerals, all is well, bitcoin brings about a good change in the world of the economy, whose workers are the ones who are destroying nature by pressing trees and so on.
I was also thinking that Op is an environmentalists who is pointing out that bitcoin mining is dangerous to Mother Earth but not complaining using computer for games,, internet for days,, electricity with all appliances at home and using cars rolling around the neighbourhood..
Global warming is been a problem for decades even in time bitcoin is not yet being discovered.. How to fix it? The leader in the whole world with great minds /scientists/engineers are with them but it is still unsolved.. And you expect the bitcoin community can..
Global warming is been a problem for decades even in time bitcoin is not yet being discovered.. How to fix it? The leader in the whole world with great minds /scientists/engineers are with them but it is still unsolved.. And you expect the bitcoin community can..
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