The ugly side of Bitcoin - page 7. | Bitcointalksearch.org

jojohamasa

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Quote from: fiulpro on April 28, 2019, 03:14:24 AM

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 ?

To solve this problem, the cryptographic community presented good ideas and initiatives, some of which have already begun, namely, alternative energy
there are ideas for ICOs projects that have raised millions of dollars to start an alternative energy project by using waste in power generation
for more detai
wppenergy.io

btcluisdiki

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In my opinion, mining btc has an impact with respect to power consumption and this will increased the fossil fuel consumption. Fossil fuels are generating more heat and pollution to the environment. Renewable source of energy should be developed further to help lessen the effects of global warming.

TimeBits

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Quote from: philipma1957 on April 29, 2019, 10:33:19 AM

Quote from: coolcoinz on April 28, 2019, 06:55:51 AM

This green talk is so overhyped it's not even interesting anymore. Please, get some numbers before you start generalizing! How much surplus energy is being produced around the world? This energy can't be stored and is being wasted. Whether bitcoin mining exists or not this energy will continue being produced and if not mining then other industries will eventually grow to use it.
Also, there's nothing stopping people from producing green energy if there's a branch of industry willing to pay for it. Miners want more, you build new solar/tidal/geothermal/hydro plant to supply them.

This bitcoin gives a great incentive to build a solar array.

Or build another coin that does not use that much power and does the exact same thing.
Take a look into Forging vs Bundling vs Mining

philipma1957

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'The right to privacy matters'

Quote from: coolcoinz on April 28, 2019, 06:55:51 AM

This green talk is so overhyped it's not even interesting anymore. Please, get some numbers before you start generalizing! How much surplus energy is being produced around the world? This energy can't be stored and is being wasted. Whether bitcoin mining exists or not this energy will continue being produced and if not mining then other industries will eventually grow to use it.
Also, there's nothing stopping people from producing green energy if there's a branch of industry willing to pay for it. Miners want more, you build new solar/tidal/geothermal/hydro plant to supply them.

This bitcoin gives a great incentive to build a solar array.

TimeBits

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"The rest can only be treated as waste material" https://www.youtube.com/watch?v=K8kua5B5K3I LOOK AT THE PILE OF SHIT ON THE GROUND AT 4:46 Angry

Stop being ignorant for greed. This is my planet to buddies, I don`t care about your slave money gains.

well we will see how people feel about it at the climate picnic may 5th.
https://www.youtube.com/watch?v=Qnw-hTYOYbk Even silly rappers can see what is going on.

Pamadar

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Quote from: pushups44 on April 29, 2019, 04:14:55 AM

One way to combat pollution due to energy consumption is to promote the use of renewable energy for mining. This is a win-win for governments as they seek more efficient ways to generate and use power. Fortunately, the market is very good about promoting efficient energy usage, which is why there is a strong push to mine bitcoin with renewable energy, given that it is usually cheaper.

If this can be pushed the possibilities will be much better for the society, using renewable energy will be sufficient to continue the process of mining Bitcoin it's just needed to be well understood so the potentials will be much higher, imagine the cycle of mining without over using the actual electricity which been produced for the society, renewable will make it also much profitable in return.

TimeBits

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Quote from: coolcoinz on April 28, 2019, 06:55:51 AM

This green talk is so overhyped it's not even interesting anymore. Please, get some numbers before you start generalizing! How much surplus energy is being produced around the world? This energy can't be stored and is being wasted. Whether bitcoin mining exists or not this energy will continue being produced and if not mining then other industries will eventually grow to use it.
Also, there's nothing stopping people from producing green energy if there's a branch of industry willing to pay for it. Miners want more, you build new solar/tidal/geothermal/hydro plant to supply them.

Quote from: 1Referee on April 28, 2019, 07:18:50 AM

Bitcoin's "pollution" is still orders of magnitude lower than the entire world banking system, the datacenters Google, Microsoft and Amazon operate, and I could continue for a while. You get the point (I hope).

The benefit of energy consumption is that it forces every involved party to look for an alternative, because you firstly want your rates to be cheaper (a business is a business at the end of the day), and the alternatives are cleaner as well, which reduces external (political) pressure on your operation, which is another incentive right there.

The worst part is that some people consider it a waste of energy, lol. Securing trillions worth of value every year is a waste, right. Roll Eyes

True the current systems are build around greed as well Angry

and bitcoin is better but still the fact is most the energy is not green energy being used. Which actually makes the price go up to the general public in the areas. Take a look into things like the Carbon Tax.
https://www.youtube.com/watch?v=K8kua5B5K3I where are the solar panels?

Mining and Forging in terms of distribution are pretty much the same thing the only difference is one uses more power than all of Ireland atm and one could run on a single laptop and have basically the same results.

It is a waste of energy, That power could be used for food production, if bitcoin price drops to 0, what did we accomplish, We don`t have anything to use in the real world like if we used the energy on mining Gold or FOOD.

jakezyrus

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Quote from: ?? on ??

well, I don't feel that it's the ugly side of bitcoin. however, that is the price that needs to be paid for using this technology. well, we all have different views, but if we have received bitcoin, then all sides will look good. that is what I think.

Thats true . once you embrace bitcoin , you will also embrace its ugliness because the goodness of bitcoin still shines the most .

other people that are not into bitcoin or isnt faithful to bitcoin are the only one that will always complain about the ugliness that bitcoin brings .

not only bitcoin but almost every cryptos and other payment methods out there do also have a bad side but they also blindly accept it .

pushups44

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One way to combat pollution due to energy consumption is to promote the use of renewable energy for mining. This is a win-win for governments as they seek more efficient ways to generate and use power. Fortunately, the market is very good about promoting efficient energy usage, which is why there is a strong push to mine bitcoin with renewable energy, given that it is usually cheaper.

TimeBits

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Quote from: fiulpro on April 28, 2019, 03:14:24 AM

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 ?

"something that we can use without any interference and without any middle man"
I mean in order to cash them out you are trading back into fiat (middle man), in order to use them there is tx fee given to a (middle man), bitcoin itself is mostly owned by some else's supply(middle man). When you have to trade your bitcoin into fiat on a exchange (middle man).

May 5th, Christie Pits Park, All Toronto Canadians will be talking about Climate change
I will be presenting there, A token that is providing people basic income (www.bitswift.cash) and runs off 1 laptop and a solar panel (not more than the entire power supply of Ireland) (I can see why governments want to ban it)

Come say Hello, Come at me bankers and bitcoin "lamborghini members".
No I am not Bitswift or Ardor, just a big fan of what these men are doing.

#Cryptocurrency harvesting powered by the sun - #Bitswift #Blockchain. Lightweight, eco-friendly, green, all inheritable attributes for your #applications. $BITS

p.s. I don`t own any bitcoin, ardor or bitswift (I could careless about prices what I care about is the future of us humans) I care about my earth and well being of my species and other species.

leea-1334

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Temporary forum vacation

Every technology has a good and an ugly side. People keep talking about how Bitcoin mining is polluting the earth and what not, but it is a talk about cost and benefit,,, people never complain that gaming has a bad effect on the industry. Imagine millions of people consuming electricity, bandwidth and hardware just to play games. Or touch screens. Ever wondered where it comes from,,, how it is produced? How it pollutes the world?

Bitcoin at least gives benefit to many things and is still a lot of potential.

baghdatis1990

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Miracle Tele

I do not think you're serious. Mining pollutant for Bitcoin production is insignificant compared to pollution produced by manufacturing plants. Global warming is a cumulation of pollution due to truly harmful factories. Do you think there is no bitcoin anymore, do we remove global warming? Think again!

De4ted

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But its worth the pollution it creates, also there are LOTS OF OTHER THINGS that creates more pollution than mining bitcoin.

BTW Im more interested on the ugly side of you. Cheesy

darklus123

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Quote from: Yaunfitda on April 28, 2019, 06:43:35 AM

Do you have proofs that mining really affected the environment in a bad way? Or is this just your own opinion? I understand that this is just another attack entry for those who don't like haters but banks as well are creating pollutants in the environment.

https://phys.org/news/2018-08-energy-bitcoin.html

If you fully understood the point OP is actually referring to the energy consumption caused by bitcoin or any other crypto mining. The thing here is that this has been done already by almost all of the production sites all over the world which obviously consumes more than the percentage of bitcoin mining.

It is indeed purely just a propaganda

Thermytee

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Is environmental pollution an ugly side of bitcoin, I don't agree. Most energy sources for mining is electricity which may not necessarily be polluting the environment. The major issue is with the manufacturing companies scattered all over the world. Bitcoin mining has little or no effect on the environment. Some mining farms now use renewable energy to generate power for their mining processes. Though heat is generated during mining, it's not sufficient.

qwertyup23

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Quote from: fiulpro on April 28, 2019, 03:14:24 AM

Mining consumes considerable amount of energy in producing bitcoin and its by-product is heat. Some claim that mining produces tons of energy while damaging the environment but there are ways in order to address this problem. People have already started implementing environmental procedures wherein they substitute processes which are relatively better for the environment.

Furthermore, global warming is a huge problem caused by multiple factors and not on mining alone. Although mining can contribute to the hazards, compared to factories which produce heavy tons of smoke everyday, the positive merit outweighs the negative outcome it brings.

Marine8

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You may have a point with regards to the environmental pollution aspect, no doubt. But lets look at it from this angle, environmental pollution started way before bitcoin even came into existence. Apart from that, how many people mind bitcoin in a particular locality, compared to the number of industries and factories that are around there? The amount of pollution caused by other factors are way more than what bitcoin mining can cause.

pixie85

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Quote from: leonair on April 28, 2019, 01:53:44 PM

This is an old issue regarding with Bitcoin but it's still right to be concern with our mother earth, let's think about the betterment of our future though because every good technology that mankind invented has its own advantages and disadvantages even the printing of paper money needs to cut downs trees to produce its raw material so I think we can compare it to Bitcoin mining. I'm positive that the time will come that someone can think a way to minimize the heat/power cost of mining or eve greater to eliminate it all.

Is it really an issue? I think it's a point brought up by people who are looking for negatives in bitcoin. The same people are saying that it is used to finance terrorism and to pay for child porn and gambling. This is like saying that cars are used to kill people because people sometimes die after being hit by a car.

There is no issue. Bitcoin is using power like every other industry and is paying for it. Miners aren't stealing power but taking what is available for everyone.

shesheboy

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Quote from: XCANA on April 28, 2019, 07:55:45 AM

The most ugly side of Bitcoin to me is the volatility nature its possess.

You arent alone with that . many users also think that being volatile is the most ugliest side of bitcoin because the price can go down no matter how high the price goes but volatility is also beneficial for investors and for us sellers because people can buy more coins when the price drops and we can sell it again when the price recovers or pumps .

Quote from: XCANA on April 28, 2019, 07:55:45 AM

Many atimes some individuals do asked me of how secure will their investment be if they choose to invest in Bitcoin or cryptocurrency in general. And my replies will be, although is good to invest in it, but remember that, the market is not stable the price can fluctuate at any given time.

Securing your cryptos is easy . all you gotta do is choose a good wallet that is safe or have a solid security . also , checking your assets more oftenly is a good idea because you can monitor the price and then you can cash out them when you already hit your targeted price to secure their value .

TheCoinGrabber

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I do not see this as a fundamental problem, there other industries that produces far more pollution. It's always been just the source of electricity. If majority source of electricity is green then bitcoin would be green.

China eventually banning Bitcoin mining might be a good thing. The only reason mines are concentrated there was because of the artificially low electricity rates (and sometimes they even just outright steal electricity to run their mines). As that becomes no longer available, it's very like that mines would be placed in areas that can produce electricity cheaply like those with hydro and geothermal plants.

Of course that don't rule out using oil or coal but mining being spread out meant it's more likely that some mines would run on green energy. Besides the Middle East is somewhat hostile to crypto so it's unlikely mines would be placed there.

Topic: The ugly side of Bitcoin - page 7. (Read 13750 times)