Topic: Use of clean energy in bitcoin mining and its impact (Read 380 times)

I think your words are not very accurate because an investment company has the right to focus only on profitable ideas, but not for them to be profitable at the expense of the general framework in which we all live. I always blame governments and countries in general that have not yet organized a framework for companies to follow that takes into account the natural peculiarities of the planet, but I began to focus on companies because they are actually the ones who make government decisions. Elon Musk is literally benefiting from the shift to renewable energies, but at the same time he is using fossil fuel to launch other projects such as SpaceX. This contradiction cannot be explained in any other way than “greed.”
Take the pharmaceutical industry, for example. Pharmaceutical factories literally trade in our health and refuse to even criticize it. Despite this, no one dares to oppose it or stop any of its projects. Who do you think is responsible for the experiments and production that these companies do?

They are businessman not scientists. They all want to make profits and they want to build an empire their own. To do this they need to be visionary and needs to do predict the future trend. The human race is using fossil fuels for a very long time and its negative impact is visible in some countries. They knew one day there would be a rise in carbon emissions and demands for renewable energy. So if this happens Elon and his tesla will be at the top of the empire already by that time.

They basically calculate how much negative you get from building it, and how much cleaner you get after you built it. To make it simpler, if you end up with 100 negative at first but then 500 clean with hydro, versus no 100 negative at first with coal, but then 500 negative and no clean afterwards, that means that hydro is still better.

Yes, it doesn't require any bad pollution when you first start coal mining or oil drilling, but afterwards every single day is negative, whereas hydro requires a much higher pollution rate before you start, but you can cleaner and cleaner eventually just be pure clean thanks to hydro. Well, that's at least the hope, maybe sometimes it fails, but that's what the aim is all about all around the world anywhere people do hydro powerplants.

Elon Musk and other advocates of innovation are exploiting the popularity of the “renewable energy” culture to promote their projects, and their primary goal is not to search for serious solutions to energy problems in general. When Elon Musk thought about producing electric cars under the pretext of reducing the use of fossil energy, he did not specify the energy sources that his cars would rely on because the production of electricity also consumes many resources, and any attempt to replace it with one of the renewable sources will cost more than the profits expected from it.

Bitcoin and renewable energy argument will never end because Bitcoin uses huge energy for mining and running transactions. People will never end on the agitation until they see Bitcoin doing what they wanted. Elon Must had been one of the cryptocurrency influencers that many investors had been looking towards to see how he make decisions and what his next decision about crypto could be. Renewable energy uses for Bitcoin would be great but there is no need to agitating on that too much because it would look like Bitcoin is responsible for high energy consumption..

Of course, Tesla is a company that has made significant contributions to the renewable energy sector and has contributed greatly to the acceleration of developments in this field but this cannot cause us to ignore the negative effects it has on the environment. The vehicle industry is definitely developing to found a different energy source that can be an alternative to electricity and Tesla will most likely show its leadership here too. I hope that the next step taken by Tesla will be more beneficial for the environment and will completely eliminate some negative effects.

I would like to state that we think similarly about accepting payment with Bitcoin. It doesn't matter which cryptocurrency it is but considering today's conditions if it is possible to accept payment with cryptocurrency Tesla will lead the way and cause other vehicle manufacturers to accept payments in this way with this great initiative.

That's more than enough for us to know that most miners including philipma1957 and many others who run mining operations are using clean and renewable energy sources. The solar energy is the most clean type of energy that we can avail these days and those who use it for mining purposes are doing a great job for whole humanity because the energy we get from sun is 100% free and available in abundant quantity, and it won't deplete even if everyone use it all over the globe. Man, 2 megawatts is a lot of energy and when that's putted into mining operations then that's the best utilization of solar energy in my eyes. Keep it up philipma1957 and I hope you'll surely extend your mining setup to way higher megawatts and the mining power to many Peta hashes in future by extending the setup to more locations.

With some of the data provided by Oshosondy, it makes me want to laugh because why every year the excuse about clean energy and environmental pollution continues to be raised by those who do not really like bitcoin even though things like this are not too useful to be used as their shield because there have been many rebuttals
When Elon is the most vocal here then what is he doing with his electric car? even if his gas emissions are minimized with the Tesla car that is his mainstay then is it not dangerous because basically he is just transferring environmental damage from renewable energy to radioactive waste.

I don't really care about that because in the end everything will still be the same and this excuse about environmental pollution is actually very stale.

we have over 1000 solar panels in our mining locations. we generate close to 2 megawatts daily in solar energy. we are New Jersey based and are always looking for new and better mining locations here in NJ,USA or even in PA,USA

That's why people say that media is the king because whatever media says people blindly trust that and even if they promote fake news people will trust that news. Most of the people these days don't really do their own research and they accept whatever they hear from those media sources, and the worst thing is that the same people promote the things they heard from those media channels to other people and promote such misinformation.

We Bitcoin users know that Bitcoin mining does require energy and we also know that most of the miners and mining farms are using clean energy for the purpose of Bitcoin mining but who listen to us? They listen to only media channels and believe trust words without question. Surely, the ones who do their own research are well aware of the fact that Bitcoin mining consumes not so much energy out of global electricity production, and it's actually consuming the energy from clean energy sources mostly.

This is so obvious to people who actually know the situation but that doesn't mean that we are going to end up with a result like that at all. We need to realize that bitcoin is still not known in detail by so many people, even the ones who has heard the name bitcoin, do not know much information regarding it, and when a news station talks about how much it uses, they believe them because they do not have the better judgement to research it themselves.

This is why the ones who know, like you and me, we know that it is tiny compared to most other stuff and mostly clean, whereas the ones who do not know would fall victim to fake news and misinformation because they do not care enough to go do their research on the subject.

You might be right about your information about Tesla, but they are known for their contribution to the renewable energy sector. Technology is moving forward, and scientists are looking for a possible alternative to fossil fuels. Tesla can be a leading company in this sector in the search for better options for renewable energy. In the coming decade, the government can ban using coal as an energy source and push forward the use of renewable energy, so if Tesla adds bitcoin as a payment option, it will open the path for other similar companies to use it as well.

To be fair the arguments are usually about "that clean energy could be created either way, we could use it for something else" and that is valid but why make it go down from crypto mining and not something else? Its not about how it was created because how it was created is already done process, its created already, we are spending it with crypto mining and there are places and organizations that expect us to not use it this way, I feel like they are overlooking the fact that this helps people out, we should cut energy spending from somewhere else instead. This is why I do not completely understand the whole process and the idea behind cutting down on crypto mining energy spending.

Elon has a personality that acts in line with his own popularity and earnings. So, describing Elon as someone who loves Bitcoin is not actually accurate because his love for Bitcoin is only due to the fact that Bitcoin has power in the cryptocurrency market and has the strongest community. So, we can be sure that Elon will choose this option if a different cryptocurrency replaces Bitcoin or has a better community by the time his companies start accepting payments in cryptocurrencies.

I would like to say this about Tesla;

Tesla is the leading company in the electric vehicle industry and still produces very successful models today. Although, it is theoretically an environmentally friendly automobile company, this isn't actually the case. It isn't necessary for a vehicle to be electric to be environmentally friendly. Although, electric cars produce zero emissions during their use, the emissions generated during the production of these vehicles are several times higher than those of an internal combustion vehicle. In other words, although it is beneficial for the environment during vehicle use unfortunately it is quite harmful to the environment during its production. Of course, in the long term this emission difference can be amortized and be more beneficial for the environment but it is necessary to know that not everything is as innocent as it seems.

In fact, the share of energy used for mining is very small in total consumption. The government is just making a big deal out of it. Let them stop their more dangerous military programs. They just want to tax the miners heavily so no one can hide. This is unfair game.

The miners should ready to spend some money for the electricity to do the mining.Because mining also like the trading,you need to inverse some money for the setup.Then you need to spend some money on every month for the electricity,by this you can get some valuable coin which you set up for mining.In some countries the mining was banned and some countries the government ban the mining setup by finding the enormous electricity using point using their application of power consuming.Blaming of bitcoin mining was the convective concept.

An small increase following a larger decrease is still negative. We went from 30k to 25 and then back to 27- that's bearish until we get back to 30.
We could say this is normal price action before the halving. Bitcoin usually goes sideways until after the halving and it can experience large drops in this period, even though the bottom is in.
I'm not a speculator so I don't care about people who draw lines in the sand saying this is the resistance that needs to be broken for us to go up, but bitcoin is clearly held by people who understand it, which stops it from crashing, but also not being bought by the "street" that usually pumps the price, which is why we're sitting stable between 20 and 30k. I expect this to change by the end of the year when people really feel the halving getting close.

Musk isn't going to do anything. He's an attention seeker so expect him to tease you and then change his mind and give you nothing.

Forget about pleasing adepts of political correctness and hypocritical people in general. There will be always complaints about Bitcoin, if that is their primarly goal. They don't like Bitcoin or Bitcoin isn't part of their personal interests, so the rage will continue going on against the digital currency, just through another arguments.

Let's say Bitcoin were fully mined with green energy (100%): then they would start complaining, why are you wasting so much green energy on this ponzi scheme, while you could be supplying poor nations around the world, or replacing fossil fuel consumption in several countries?

The problem isn't fossil fuel, clean energy or mining. The problem for those people is Bitcoin and the fact they don't have total control over it. Include Elon Musk on this.

Russia has the 2nd place in the world in mining, but for mining it mainly uses electricity from hydroelectric power stations.
Everyone believes that hydropower is safe electricity and its production does not emit harmful pollutants into the air, but the construction of powerful hydroelectric power plants has other negative environmental and social consequences.

Is this one of the reason why we see some small price increase in bitcoin lately?

Well, if we want to be honest, we need to accept that the negative sentiment regarding bitcoin demanding energy and carbon footprint, has been of the reason why people campaigning against Bitcoin, and it could be affecting the price. Not to mention that many countries especially in Europe has put more of their focus on climate issue, so Bitcoin moving to more sustainable energy should make people have a better perception of bitcoin.