Will bitcoin destroy the world? - page 13.

bitcoinskyrocket09

member

Activity: 239

Merit: 10

Quote from: yanxuanyunshan4 on March 09, 2018, 12:53:14 AM

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 really don't think that bitcoin can destroy the world. It is just an opposite view for bitcoin. But if and only if bitcoin will improve in economic growth all over the world, I might really agree that Bitcoin might destroy the world but then negative issues of bitcoin business is not a new in bitcoin business. And maybe it just because of the rapid popularity and increase of the people who uses bitcoin that's why a lot of people are trying to make some negative comments about Bitcoin.

roccstar

full member

Activity: 174

Merit: 150

Many people believe that Bitcoin is the future currency of our world. If anyone says that Bitcoin is taking the world to progress, I agree with it but Bitcoin can not destroy the world. This precious world is not yet well promoted about bitcoin.

THATBTC

newbie

Activity: 98

Merit: 0

Quote from: yanxuanyunshan4 on March 09, 2018, 12:53:14 AM

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?

Yes, but as everything progresses, the solutions also, and the solutions are sooner than you think

Hallmader

sr. member

Activity: 1123

Merit: 253

The energy that Bitcoin mining consumes does not even reach as high as 1% of the world's total energy consumption. That means it only comprises a very small percentage. That will not destroy the world. That would not even equal the very large nuclear and arms companies of so many governments around the world that are always creating new weapons of nothing but mass destruction. That should be the one that will be diminished in terms of energy consumption and not the insignificant Bitcoin mining.

saruxanyan

member

Activity: 308

Merit: 10

Bitcoin in our world can even help. Someone else in mind might destroy the world. They do not know how much bitcoin can do. They just lack confidence in the bitcoin. trust in bitcoin where they can see what bitcoin can do around the world.for me bitcoin can not break the world so he can help it.

VBCryp@

member

Activity: 336

Merit: 10

I think bitcoin does not destroy the world that it makes the world more technologically modern, because I think bitcoin is a digital currency created to provide solutions and have a Technology is very sophisticated, and bitcoin will promote development and openness.

alvinmtp

hero member

Activity: 658

Merit: 505

Quote from: cosmoo on March 09, 2018, 06:25:56 AM

Mankind can product the energy not only from oil. There are wind energy, sun energy. Soon people will switch to this types of energy product.

And when is that going to happen, when we are left with no oil for the coming generations. Actually the need of the hour is to consume the non renewable sources of energy in an efficient and meaningful way without being harsh with them. But we are not able to realize this fact and we are continually destroying our resources. The coming generations will not be left with anything but will only curse us. The time sis not too far when we will be faced with the situation of world war III only on the issue of ENERGY CRISIS!!The data regarding the energy consumed during bitcoin mining has really left me awe struck. Like I had an idea that mining bitcoin requires huge consumption of energy but this much value is really shocking. I really hope that the realization of saving the environment soon dawns upon the mankind and some concrete efforts are being taken up ASAP!!

dab000

newbie

Activity: 39

Merit: 0

I think bitcoin won't destroy the world. There are many other more possible ways to destroy it, but not with bitcoin.

Ris88

hero member

Activity: 2110

Merit: 502

Quote from: putrisa on May 06, 2018, 02:46:09 AM

in my opinion bitcoin is a digital currency created to provide solutions and has a very sophisticated technology, if you know the technology created sema can be a boomerang which means that technology could potentially destroy the world. hopefully bitcoin is not used to destroy the world.

I think bitcoin is the currency that is centered for. helping the entire world economy. so if we see that bitcoin there is no plan to destroy the world. depending on how everyone uses bitcoin as an excellent exchange tool for everyone.

putrisa

full member

Activity: 420

Merit: 100

in my opinion bitcoin is a digital currency created to provide solutions and has a very sophisticated technology, if you know the technology created sema can be a boomerang which means that technology could potentially destroy the world. hopefully bitcoin is not used to destroy the world.

Lataman

newbie

Activity: 66

Merit: 0

I think that bitcoin will not have a serious impact on the environment and ecology of the planet. Unfortunately, we have pollutants worse than crypto currency...

The cure

jr. member

Activity: 448

Merit: 4

Bitcoin will never destroy the world!..Instead,it can help the entire world,through by helping people to build their better future.

Missterio

newbie

Activity: 308

Merit: 0

On the contrary, bitcoin will promote development and openness.

CuteBaby123

jr. member

Activity: 196

Merit: 3

Quote from: yanxuanyunshan4 on March 09, 2018, 12:53:14 AM

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?

Why would bitcoin do that? Actually, its not bitcoin that destroying the world. It's us. Bitcoin is just a currency, an investment and has no direct effect on the environment. It has a lot of benefits to people.

Marcsymon

member

Activity: 322

Merit: 10

Quote from: Eros1on on May 03, 2018, 10:04:46 AM

The existence of BTC will only make the world a better place. How could it possibly destroy the world?

With the great helps of bitcoin through the improvements of the economic of our country, I don't think so that bitcoin will destroy our country or to the world. In fact there are many unemployed people in our country and they make their living through bitcoin adaption. They can earned money even if we are in our home with online gadgets and participate bitcoin forum to obtain rewards through participating such campaign. It is very helpful to everybody with exact knowledge to earned a lot of income through joining bitcoin platform jobs.

Lounadolcy

full member

Activity: 179

Merit: 100

Many people believe that Bitcoin is the future currency of our world, others argue that it is a store of value. Whilst both could be true, there are fundamental issues with Bitcoin that need to be changed in order for it to scale to mass adoption.

PETMALU11

newbie

Activity: 144

Merit: 0

Nope, because bitcoin help us to earn more by working on crypto. Everebody says that bitcoin is scam but they dont know how much bitcoin can change their life so that i work on crypto.

Victorycoin

hero member

Activity: 1134

Merit: 517

Quote from: Lounadolcy on May 03, 2018, 08:04:51 AM

That's like saying will a bunch of digital currency cause a planet of 7.5billion inhabitants to dissipate? You might as well have asked if cryptocurrecy would be the death of Kim Jung Un. There's no relationship with bitcoin and the destruction of world .

I think he was actually looking at the picture of the mining of Bitcoin placing very huge demand on the use of fossil oil and that can rightly be said to pose some threat, but it is without a double not a significant threat to the earth and the availability of renewable alternative energy further reduces whatever burden there would have been.

If anyone is interested in knowing what financial system that's actually killing the earth, one only need to look at the ozone layer depletion caused by deforestation and falling of trees, which is still a major raw material for making paper (fiat) money - perhaps blessing us with floods and droughts, pollution, loss of soil fertility, spread of deserts,etc.

Dewi08

hero member

Activity: 1624

Merit: 500

Quote from: matanglawin on May 03, 2018, 11:53:52 AM

Quote from: yanxuanyunshan4 on March 09, 2018, 12:53:14 AM

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 don't see any bad here unless it will use to illegal things. Yes it might consumed high energy but not all mining do that. You should not just throw what you believe rather search about something about bitcoin on how it gave people an extra income.

Until now, bitcoin is still the best and probably has a lot of bitcoin enthusiasts, so if it is bitcoin will destroy the world why bitcoin is still there today, because I know that bitcoin has been much help from all circles whether it is not capable as well as classmates enliven the bitcoin, so there is no reason for anyone to ask if the bitcoin will spoil the world, the only one answer is not true.

matanglawin

full member

Activity: 372

Merit: 100

The Organic Growth Token

Quote from: yanxuanyunshan4 on March 09, 2018, 12:53:14 AM

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 don't see any bad here unless it will use to illegal things. Yes it might consumed high energy but not all mining do that. You should not just throw what you believe rather search about something about bitcoin on how it gave people an extra income.

Topic: Will bitcoin destroy the world? - page 13. (Read 2008 times)