Governments are the ones who threaten destroy the world with their mass destruction weapons. And those toys are financed with fiat money, not Bitcoin.
Topic: Will bitcoin destroy the world? - page 11. (Read 2014 times)
Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
. Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
I think the energy consumption in mining bitcoin can be solve if we use renewable energy from the sun or wind. The technological advancement like bitcoin needs energy but we also need to conserve our environment and personally, I think green energy is the solution. So I don't really think that mining in this digital world can directly affect the environmental crisis we are already dealing with.
Will bitcoin destroy the world? Not at all because is only affecting the world positively in other to change people's life and make people's life better and it is affecting the globe positively.
Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
There is a fixed amount of bitcoin that can be mined or produced unlike fiat. And the system of bitcoin needs energy to secure the network and to connect transactions globally. For these reasons, I think the energy it consumes is worth the innovation. But I also believe that we should approach clean energy sources like wind, water, and sun to power up not only the bitcoin industry but also the whole society.
Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
Bitcoin's goal is pretty far from destroying the world. In fact bitcoin's main goal is to change our monetary system. There are also other ways aside from burning fossil fuel to produce electricity needed to make the system run. Plus, those alternatives are infinite unlike the fossil fuels which is decreasing in a fast rate. So I don't believe that bitcoin will destroy the planet just because of the energy it consumes.
Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
I think the energy consumption in mining bitcoin can be solve if we use renewable energy from the sun or wind. The technological advancement like bitcoin needs energy but we also need to conserve our environment and personally, I think green energy is the solution. So I don't really think that mining in this digital world can directly affect the environmental crisis we are already dealing with.
I do not think so. Bitcoin only change world payments system. Bitcoin of consumption of energy is the main problem which faces crypto - community in the near future. Perhaps, it will be required to create additional network over the main bitcoins
Bitcoin will never destroy the world. We have many source of energy and we use it in many ways. Not only bitcoin use energy, Many other technology and invention also use energy. Why is it bitcoin is the cause of destroying the world? I am not agree on that statement.
I think that we do not have any problems with electricity while mining bitcoin. In Europe they are trying almost completely to switch to the use of environmentally friendly and inexhaustible types of energy, such as wind and solar energy. This energy is unlimited and the technology for their use is improved every year. Therefore, I do not see any problems in this regard. In this regard, bitcoin can not destroy anything. This problem is far-fetched.
I believe that the bitcoin will not and cannot destroy the world but instead the bitcoin has the calabiloty to improve the world. With the use of bitcoin, people can gain a lof of benefits out of it.
I think, no. Bitcoin will not destroy the world. Othe side, bitcoin is a digital currency. It is better than paper money.
Why there is a comparison with oil, why not compare with alternative energy sources, such as wind or water. After all, humanity will soon come to such sources of energy.. So bitcoin is not in any way harmful to the environment.
Yes you are right that bitcoin mining may have been really bad for the electricity sources but what you have missed was the alternative resources right now. I mean, you could even use the wind the suns light just to produce electricity. Though the money that will be needing to built it would really cost much still there are some new ways to produce electricity yet reduce the effect of it to global warming. Our technology have already gone very far and it would really be possible for us to produce a electricity without destroying the earth.
Will Bitcoin destroy the world?
Because mining takes alot of energy?
Hyperbol much?
Because mining takes alot of energy?
Hyperbol much?
If bitcoin can destroy the world I think it's impossible because bitcoin is just a digital currency that has less risk to the world economy. instead I feel bitcoin can solve some world economic problems with the advantages possessed bitcoin.
I think that Bitcoin will destroy the world.There are many problems with Bitcoin.To my mind Bitcoin is too popular!!!
Bitcoin can not destroy the earth.There is a lot of energy needed to destroy the world.But bitcoin can not really apply the power.But it is true that bitcoin has some negative effects.Which may cause some problems in world economics.But if people can use bitcoin properly, then this problem is not a problem.If people work with bitcoin as positive, then bitcoin can play a big role in the global economy.
Bitcoin will not damage, it can change the currency system with its advantages. On the other hand, I think Bitcoin can never destroy the world, this is a misunderstanding. Bitcoin will make economic progress worldwide and get more advanced technology. This is just an event you can imagine but it is true and it will affect the world environment and the world economy in the future.
all depends on the holders of bitcoin. if the holders and users of bitcoin use it for evil activity, bitcoin can destroy the world.
bitcoin is just a tool, not to be blamed.
but if we talk about environment, i think earth wont be destroyed just because many miners mining bitcoin.
How could we say that the bitcoin can change the world, when in fact it changes the life of an individual and the community so for me it h as been a great way for us to earn while learning things and changing the economic system, it could change the world if the bitcoin was destroyed. bitcoin is just a tool, not to be blamed.
but if we talk about environment, i think earth wont be destroyed just because many miners mining bitcoin.
It also can change the world from replacing coin or fiat that we use in real world. Using bitcoin, the fiat has a chance to be removed in the future because they waste money to create new coins or fiat on every year and it causes more expensive than it's value. Bitcoin of course has an advantage and disadvantage, but almost all things has. But environment create for us to be used, and soon they study to create more better in the future.
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