Topic: The ugly side of Bitcoin - page 2. (Read 13750 times)
73% of Bitcoin mining comes from renewable energies, compare this to any other industry.
We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
This had been a topic for a long time whether it is worth it to mine bitcoin or not because of the amount of energy it consumes. If ot brings convenience to anyone, why not. We were able to cut middle-men such as banks when doing are transactions. Move money or buy stuff conveniently without further delay, and improve technolgy, provide job and investment opportunities.Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
That is why there are alternatives than consuming electricity produced by coal. Some mining farms utilize natural energy which is cost efficient in the long-run.
That’s true we made this argument multiple times in the past and apparently we will keep talking about it till the day that we found a solution. Use of the electricity and this kind of things causes global warming. On the other hand there are also tons of things that we should worried about before the bad sides of bitcoin.
We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
It is necessary to know the correctness of the product from where it is right. However, there are plenty of electricity used in mining bits. It is very expensive to spend. Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
that is not the ugly side of "bitcoin", i would go as far as saying it has nothing to do with bitcoin. it is all about the ugly side of the electric producing companies that have been producing it inefficiently and with lots of pollutions. bitcoin is just using what is offered to it by them. we can't change everything. we have revolutionized the concept of currency from being centralized to being decentralized, you can't expect us to also revolutionize the electricity production too!
Power stations do not always use the most environmentally friendly ways to produce electricity. Yes, for mining bitcoins you need a lot of electricity, but this is how our world works. Almost all devices and even many vehicles now use only electricity. Bitcoin may be contributing to global warming but before pointing your fingers at Bitcoin, try to look around you and tell me where the heat of your surroundings come from. It is very hot here in my place but I cannot simply blame Bitcoin miners for it. I can easily see hundreds of cars emitting black smoke, factories releasing smoke in the air, houses with CFC-releasing air condition system, huge coal-fired power plants, and so on. How many percent does Bitcoin mining contribute to global warming? And, for all you know, they are slowly converting into using green energy.
Agree, although bitcoin can contribute to global warming, it can even harm the environment but we should look at the surrounding industrial sectors, everything has certain effects on the environment but until now, industrial activities have not been eliminated, I can even see the growth in each year. The most plausible explanation that I can think of is profit from these industries, the benefits are too great, it is enough to offset the losses of the environment, without these services and technologies, the world will not have growth, and this is something no one wants, everyone wants better and better than need sacrifice 
We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
Everything that beneficial has also a bad area and just like what you all mentioned those are the negative effect but we must also know that the benefits covers the negative in this face of situation,many miners now uses Renewable energy and also they are paying for each amount of energy the uses so with this it means let us look at the brighter side and not on the dark one Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
You were right. Really benefits that Bitcoin brings also. However, from your point of view or those who work on the environment, that is a bad thing.
However, when Bitcoin is fully exploited, will it pollute the environment? Can anybody tell me this
However, when Bitcoin is fully exploited, will it pollute the environment? Can anybody tell me this
First of all, I don't agree with this "Bitcoin mining pollutes the environment" BS. In case you are asking whether mining will continue after 2140 (when the last coins would be mined), then the answer is yes. The mining reward will consist solely of transaction fee. If my calculations are correct, then the transaction fee would represent more than 50% of the mining reward by around 2050.
You were right. Really benefits that Bitcoin brings also. However, from your point of view or those who work on the environment, that is a bad thing.
However, when Bitcoin is fully exploited, will it pollute the environment? Can anybody tell me this
However, when Bitcoin is fully exploited, will it pollute the environment? Can anybody tell me this
Energy consumption is truly a big issue with bitcoin mining as well other metal based mining. This isn't an ugly side, but it is the one that need to be given importance to innovate and find a better solution for the energy related issues.
Already the climatic scenario around the globe keeps changing with the destruction of nature. Everywhere power generation is a big issue, even the automobile industry is moving towards other ways of power generation for the vehicles.
Already the climatic scenario around the globe keeps changing with the destruction of nature. Everywhere power generation is a big issue, even the automobile industry is moving towards other ways of power generation for the vehicles.
Bitcoin may be contributing to global warming but before pointing your fingers at Bitcoin, try to look around you and tell me where the heat of your surroundings come from. It is very hot here in my place but I cannot simply blame Bitcoin miners for it. I can easily see hundreds of cars emitting black smoke, factories releasing smoke in the air, houses with CFC-releasing air condition system, huge coal-fired power plants, and so on. How many percent does Bitcoin mining contribute to global warming? And, for all you know, they are slowly converting into using green energy.
I think the argument of Bitcoin energy wastage is not only stupid but deserves not to even be acknowledged. First we'll talk about energy consumption. Then we'll talk about pollution, heat, noise, maybe next all the toxic waste from the rigs that burn out. Basically, it starts in a stupid place so it'll just end up going down and even more stupid path.
In addition to consuming energy from electricity, bitcoin mining also generates waste from computer hardware. Bitcoin is not really anonymous and improvements on the bitcoin network are still limited. A large number of Bitcoin was created from the first years by Shatoshi. This means that if he keeps them now, that is a terrible amount. Bitcoin market is still small so the manipulation to manipulate the market is huge.
The fee situation on BTC is what big blockers have been predicting all along. Ou next prediction: Users will evacuate High Fee Coin for better alternatives. The easiest thing to switch to is BCH. I ve heard Credits-coins are going to prove to be formidable because there's a solid community behind it, there's a use for it, and it's got a great market capitalisation. I think that's going to be a winner.
Maybe the bad side of humans will be spoiled with technology, as you mentioned monthly paper bills, bank accounts, etc. In my opinion we must still have cash because all technologies still have imperfect sides such as hacking, etc.
But again, bitcoin is the most expensive currency and from there we can profit because there is a trading system. I can only keep up with the times so we are not outdated.
What about the environmental impact of traditional payment networks? Setting up a bank account, getting monthly paper bills and promotions, the cost of hiring a human being to support your questions about their horrendous UI... it adds up quickly, bitcoin or not.
Do you know that printing of all the paper money in circulation around the world resulted in the destruction of a huge amount of forest? And paper money needs to be replaced every 5-6 years, while Bitcoins don't need replacement. Coins that are mined once remain in circulation for ever. That is unless the private key is lost for some reason.
Bitcoin may be contributing to global warming but before pointing your fingers at Bitcoin, try to look around you and tell me where the heat of your surroundings come from. It is very hot here in my place but I cannot simply blame Bitcoin miners for it. I can easily see hundreds of cars emitting black smoke, factories releasing smoke in the air, houses with CFC-releasing air condition system, huge coal-fired power plants, and so on. How many percent does Bitcoin mining contribute to global warming? And, for all you know, they are slowly converting into using green energy.
The fee situation on BTC is what big blockers have been predicting all along. Ou next prediction: Users will evacuate High Fee Coin for better alternatives. The easiest thing to switch to is BCH. I ve heard Credits-coins are going to prove to be formidable because there's a solid community behind it, there's a use for it, and it's got a great market capitalisation. I think that's going to be a winner.
What about the environmental impact of traditional payment networks? Setting up a bank account, getting monthly paper bills and promotions, the cost of hiring a human being to support your questions about their horrendous UI... it adds up quickly, bitcoin or not.
We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?
As per the latest stats, Bitcoin mining consumes as much as 1% of all the electricity available in this planet. I don't think that this is a very significant amount. A lot of electricity is consumed and toxins released during the mining of gold and silver, two metals that are used for making bullion coins. No one seems to be having an issue. You can't say that one thing is good and another is bad, if they are very similar.
The bad thing about bitcoin is that their value is unstable and constantly changing. It would be good to keep them long and the value of Bitcoin increases but if they are reduced it is disastrous. Bitcoin does not anonymous this affects the privacy of the person who used them. Like any currency, exchanging from one person to another is completely anonymous and you can't look at the money table to know who owned it or use it for exchange, it's simply is a sheet of paper.
This is more of a temporary issue. As technology progresses, we will see more powerful mining rigs, that consume only a fraction of the power that the current mining rigs consume. If you remember, the old computers (of the 1990s) consumed a lot more power when compared to the PCs and laptops of current generation. The same will happen with Bitcoin miners.
It all depnds upon how you use bitcoin.
Like Many Scammers are using crypto only. It is a bad side.
Like Many Scammers are using crypto only. It is a bad side.
It is true that there are a lot of scammers, but it is on us how we will be taking care of our investments or cryptos.
Since the first year Bitcoin became available, we all know it is not safe since it is a decentralized cryptocurrency and it is a digital currency, the horror of early digital currencies will still be in our minds. But it proved that Bitcoin is secure, it is hacked in the past but after that, it never happened again. For me, the ugly side of BTC is the people who wants to earn money since they are taking advantage of the price movements and other people are affected by that decision, I think this world is cruel for those people that is new here.
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