Topic: What is Bitcoin's Carbon footprint? (Read 117 times)

Alex de Vries, aka Digiconomist, estimates that it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

This averages out to 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction. <  the average American household consumes 901 KWh per month >

The average daily power consumption of a single Fiat ATM is about 5.52kWh. < It wastes electricity, even if it is not used >

A coal-powered Bitcoin mine is responsible for 8,000 to 13,000 kg CO2 emissions per Bitcoin it mines, and 24,000 - 40,000 kg of CO2 per hour.

Truth is the mining requires a lot of electricity to do , the statistics are really staggering i must admit and definitely is leaving a serious carbon foot print in countries such as china where coal burning is a common and cheap way of producing cheap electricity , coal burning produces significant carbon footprints and as such we have seen environmental groups sounding alarms as to the deleterious effect this is having environmentally ....i do agree we need to find cheaper , cleaner sustainable ways of producing electricity for the process.

Well, the answer to that is not that simple, because electricity is generated in different ways, all around the world and then

used for mining. {Coal,  Nuclear, water, wind, Solar and geothermal power.}

Here is a video posted on CNBC about the subject : https://www.cnbc.com/video/2018/01/12/heres-how-much-it-costs-to-mine-one-single-bitcoin-in-115-different-countries-across-the-world.html  *{The accuracy of this is basically FUD}

We have made excuses that Fiat currencies consume more electricity than Bitcoin mining, because more electricity are spent

to create it and to manage it than the combined electricity used to mine bitcoins, but the reality is that we are still using

massive amounts of electricity to mine it and to use it. {all debate aside, it is the true reality}

What are we doing to reduce our {Bitcoin's} carbon footprint?

~ Are we using the cheapest electricity to mine it? {Moving Bitcoin farms to these areas?} I would say POSSIBLY

~ Are we using the most environmental friendly electricity to mine it? Answer : NO

~ Are we using the latest technology to mine it? Answer : YES - ASIC chips are developed to use less electricity.

~ Are we using spent electricity in the best way possible? YES - Heat generated from mining is used to warm our houses, so

   less electricity are spend to heat our buildings.

                                             What can we do more to reduce our Carbon footprint?

Edited : Took out irrelevant parts, not applicable to this topic.