Topic: The ugly side of Bitcoin - page 8. (Read 13750 times)
the advantage of bitcoin far outways it's disadvantage or the ugly side as you rightly put it, to start with hardly is their anything good in life that does not have its bad side, which is line with the saying that every coin has two side, going by the advantage of bitcoin, we are comfortable having bitcoin mined and put in circulation.
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.
Oh not this again. One guy starts a crusade against Bitcoin and the supposed harm that it is done due to mining and everyone believe that nonsense. These claims have been nullified by several people with actual facts and also comparisons to harm that are done by printing and minting fiat currencies.
The total energy used by the Banking system actually dwarf the figures from energy that are used in the mining of Bitcoin, but people still believe the fud that are spread in social media.
The total energy used by the Banking system actually dwarf the figures from energy that are used in the mining of Bitcoin, but people still believe the fud that are spread in social media.
I agree. All of us are not without sin. And it can be understood. Because bitcoin is still very young. I am sure that every day he will get better and better.
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 ?
Electricity companies are responsible for the supply of electricity and for possible pollution, so we can not blame bitcoin. we have to blame the electricity companies. Another point, there are many polluting industries so that we should not only look at electricity companies, we have to look at all companies in the world and do a reflection on how to reduce pollution
Bitcoin was created through an incentive 'mining' process that uses high computational power to solve complex mathematical equations agreed upon in the network and record blockchain transactions. it means that innovation is needed to outsmart energy consumption to be more efficient and environmentally friendly than before considering that it is clear that each year there will be more miners or bitcoin transactions, hopefully the innovation can be more widespread so that no more claims that mining or bitcoin transactions can damage the environment.
There are ugly sides to everything and there would always be room for improvement. Even if bitcoin is not able to adopt itself with time or modify itself completely, it would still always be the pioneering cryptocurrency. The mother of all blockchain based currencies. An trophy worth keeping polished.
What if at the end Bitcoin operation reach the same level of what you mentioned? Doesn't it mean Bitcoin will be the same as centralized things?
If that happens, Bitcoin is very likely at a stage people no longer care about it, because they consider it useful.
I remember back when multi billion dollar internet companies such as Google weren't as big as they are today; people were worried about how their datacenters would impact the environment, and even referred to them as environmental disasters. Do you see people complain about Google's datacenters nowadays? Nope. People no longer care because they so heavily depend on these companies and everything related to the internet.
People are hypocrites. Everything they don't think they need is either a fraud or useless. Wait for the moment they more than ever need Bitcoin in their life. It's not a matter of if, but a matter of when.
In relation how useful bitcoin is i think the polution from the mining farms / transactions is worth it.
I’m more worried about the polution by manufacturing and disposing the batteries for e-cars...
I’m more worried about the polution by manufacturing and disposing the batteries for e-cars...
No pollution is worth it!
NONE
There is always a solution ,we can actually find alternatives if we worked hard but rather we do not , we sit and relax and let things happen and it won't be us who would suffer , it will be out next generation or the generation after that , we will easily be able to live a normal Happy and healthy life but what about the countless sufferings that the upcoming generation will face and more or so animals will be wiped out in an instant .
It's too serious !
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 ?
in my opinion the problem with the earth is not someone who does mining cryptocurrency. I think it's more of a big factory that has the most global warming. 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 ?
Indeed, this is exactly what we should think about, because the more mining that is done, the less the supply of bitcoin will be. What's more, there are many free mines. Whether mining bitcoin can stop. So we can focus more on investing and will increase the volume of bitcoin to be exact.
i personally do not see any ugly side in bitcoin as it has its remedies. i only know most people do no have sufficient knowledge of what the blockchain technology is and bitcoin in particular and therefore they tend to hurt themselves when they take a deep dive into it without the precautions tagged on it such as its volatility
Bitcoin is being controlled by the Devs and the miners to keep it low. The reason why, is that if it were allowed to run rampant - an out of control "investment" - it would jump to a $million in one or two years, and then a $billion. This would clog communications, and change the whole Federal Reserve fiat setting.
The resulting changes would upset all kinds of ownership of value in the world, but especially the USA. There would be a collapse of funding to the military, and other nations that are not affected by fiat in their military would grow faster in their military.
There would also be a collapse of Social Security. This will happen, but for now government can protect us from the coming collapse. Government couldn't do this in a total Bitcoin-caused fiat chaos.
Why do the Devs and miners care? Because they would get sued. Suddenly we would find the death sentence coming into being around the country, and they would die. But it might be fair, because many other people would die from the chaos in the collapse.
God won't let this happen until more of His people have died off naturally from old age. He will control the sense of the Devs and Miners, and only later will bring the Bitcoin chaos on the people who reject Him.
The resulting changes would upset all kinds of ownership of value in the world, but especially the USA. There would be a collapse of funding to the military, and other nations that are not affected by fiat in their military would grow faster in their military.
There would also be a collapse of Social Security. This will happen, but for now government can protect us from the coming collapse. Government couldn't do this in a total Bitcoin-caused fiat chaos.
Why do the Devs and miners care? Because they would get sued. Suddenly we would find the death sentence coming into being around the country, and they would die. But it might be fair, because many other people would die from the chaos in the collapse.
God won't let this happen until more of His people have died off naturally from old age. He will control the sense of the Devs and Miners, and only later will bring the Bitcoin chaos on the people who reject Him.
Who care really for environment? Is only bitcoin mining destroying our environment? Have you calculate how percentage of pollution occurred by bitcoin mining? I think it would be very very small quality. So we should concentrate to others which is hugely destroying environment instead blame bitcoin mining. However, we should think how we could prevent pollution by bitcoin mining since we are a bitcoin user. So there should be new manufacturers who would make environment friendly mining rigs. So we can prevent pollution by the way.
There are more worse problems to pay attention to than what you perceive as the ugly side of bitcoin. Pollution, whether air, land, noise, and the like, are caused by the lack of discipline of people. They know what could possibly happen but they choose to be ignorant about it. Bitcoin mining also consumes lots of energy but in this day and age, new alternative sources of energy are discovered and utilized so that we will not rely solely on diesel-dependent power plants.
This
And this
are ON POINT.
This
1. ULAB (Used Lead-Acid Batteries)
2. Mining and Ore Processing
3. Lead Smelting
4. Tanneries
5. Artisanal and Small Scale Gold Mining
These are the world's top industries that lead to environmental pollution. In fact these industries pollute more than anything else.
Should these industries stop functioning ? I guess not.
Should Bitcoin mining be stopped ? Definitely not.
Besides that, paper money needs paper to be printed upon. Paper is made by cutting down trees. Is that Eco friendly for you ?
I guess I have made my point very clear.
2. Mining and Ore Processing
3. Lead Smelting
4. Tanneries
5. Artisanal and Small Scale Gold Mining
These are the world's top industries that lead to environmental pollution. In fact these industries pollute more than anything else.
Should these industries stop functioning ? I guess not.
Should Bitcoin mining be stopped ? Definitely not.
Besides that, paper money needs paper to be printed upon. Paper is made by cutting down trees. Is that Eco friendly for you ?
I guess I have made my point very clear.
And this
unless you have any new solutions to fix a problem that you are pointing out, your topic is low quality because it is the repetition of something that was mentioned a hundred times. and there is no point in repetition unless you have something new to add, which should be the "solution"!
are ON POINT.
Nothing perfect all invention have side effect to our environment.
This probably great example that they also use energy not only consuming energy for money withdrawal, and how about government create money paper they need also use energy.
What about all the ATM's , Banks , Bank storages , transfers of FIAT money does that not consume big energy like electricity to run all of that . I think Miners consume just like 5-10% of the energy that Banks consume . Technology is addapting really fast and im 100% sure that not far from now somebody will come up with something better to run hardwares and things that runs currently on electricity =] New form of energy i mean =D
This probably great example that they also use energy not only consuming energy for money withdrawal, and how about government create money paper they need also use energy.
The most ugly side of Bitcoin to me is the volatility nature its possess. 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.
1. ULAB (Used Lead-Acid Batteries)
2. Mining and Ore Processing
3. Lead Smelting
4. Tanneries
5. Artisanal and Small Scale Gold Mining
These are the world's top industries that lead to environmental pollution. In fact these industries pollute more than anything else.
Should these industries stop functioning ? I guess not.
Should Bitcoin mining be stopped ? Definitely not.
Besides that, paper money needs paper to be printed upon. Paper is made by cutting down trees. Is that Eco friendly for you ?
I guess I have made my point very clear.
2. Mining and Ore Processing
3. Lead Smelting
4. Tanneries
5. Artisanal and Small Scale Gold Mining
These are the world's top industries that lead to environmental pollution. In fact these industries pollute more than anything else.
Should these industries stop functioning ? I guess not.
Should Bitcoin mining be stopped ? Definitely not.
Besides that, paper money needs paper to be printed upon. Paper is made by cutting down trees. Is that Eco friendly for you ?
I guess I have made my point very clear.
What has impact to the price are either the expensive mining or a news. Normal people won't care about the polutions, they will just care about how to get Bitcoin and become rich. However, this side-effect of Bitcoin mining (like a pollutions) should get more attention from everyone in the community to sustain Bitcoin existantance.
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).
What if at the end Bitcoin operation reach the same level of what you mentioned? Doesn't it mean Bitcoin will be the same as centralized things? 
That thing you said that its very energy consuming why dont you look in banks/world government dont you think they are eco friendly?yeah bitcoin contributes to global warming and polution but its just a small percentage on how government facilities contribute to global warming and we are feeling it the rapid rise in temperature is the price for our development and not caring for the environment
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