Topic: Will bitcoin destroy the world? - page 16. (Read 2014 times)
of course not, bitcoin will not destroy the world, bitcoin technology is created because it wants to make a solution to alleviate the financial condition in the world but if you talk technology all the technology like a double-edged sword which means it could just destroy the user so there is no harm in being cautious.
Bitcoin is the only cause of global warming and without it you will have a spring all year round. You believe that electric companies can be blessed with top ups they get but they may be tired of generating more energy than normal prices. We imagine but it is true and it will affect the world environment and the world economy in the future.
I think not, because bitcoin is a very efficient digital currency than paper money, and bitcoin gives us learning about trading and something like that. And bitcoin can helps world economy
without any btc I think the energy will remain in the drain from the bowels of the earth because energy needs to meet lifestyles today is quite high, exactly with btc I think it can save some percent of energy needs than if we continue to build a bank with all its assets
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 bitcoin is the reason if the countries become mad to each other, because some country did not against to the bitcoin so some country thinks that country is enemy. Some country think that the bitcoin is illegal or are used by some terrorists to cover the other country. I want to know why some countries against bitcoin because the bitcoin is very powerful so I think the bitcoin can destroy each country because of the bitcoin.
I think no, bitcoin will not destroy the world in just producing oil to produce power, there are alot of ways to produce electricity like windmill, solar panels etc, actually bitcoin helps the world to become better, lets just focus on positive.
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?
Wow, to think that bitcoins are a greener alternative to paper money by reducing the use of paper as a main ingredient to money. I never knew that in the energy industry that bitcoins consume this much larger energy in the form of oil barrels. I guess it just goes to show that we have a lot of issues to address with bitcoins to make it efficient not only in the area of convinience but also in the energy side of bitcoins.
If thats about electricity or environment, right now many manufacture or power plant build renewable power and more environmentally friendly. I dont believe bitcoin will destroy the world because bitcoin purpose is make a new economic system more fair
I think if bitcoin is said to destroy the world I disagree because so many people whose economy is helped by joining in bitcoin, I think bitcoin helps the world economy.
Blcokchain is open to public for check and verify thus each transaction is clear and traceable.So i believe with the existance of blockchain, it will hard to destroy bitcoin.
I do not believe that it destroys the world, but on the contrary it has helped many to survive in their day to day
I see Proof of stake as solution.
I think it does not matter because it fits the result.
the question of energy is not limited and there is a chance to recreate it.
Bitcoin mining does not produce waste that damages the environment.
so all this is fine.
the question of energy is not limited and there is a chance to recreate it.
Bitcoin mining does not produce waste that damages the environment.
so all this is fine.
Of course not. Bitcoin is not even that popular to cause that much energy consumption. Besides, there is a natural tlimit to how much energy we can produce, and if bitcoin takes too much of it, then the number of transactions will go down, because such a process could not be sustained.
Well it is already, it has been widespread through different medium and now widey known in social media and television. I think Bitcoin will not destroy the the excessive usage of the oild and electricy of the humans will bring this world to end, we are the one who has the capability to control what will happened next so we should be the one to take an adjustments, Bitcoin is just a versatile forum which is accessible for us to earn.
Bitcoin is becoming more and more popular, but not many people know its flaws: Extremely high power consumption, and more electricity consumption in the future. This will affect the cutting of fossil fuels at a time when environmental issues are more worrying than ever.
I don't think bitcoin will destroy the world because as far as I know bitcoin helps a lot of people whom needs money to support their family especially for those jobless people. It helps every government to become better even if most of them are against on bitcoin and maybe they conclude this kind of saying because governments who are threatened about bitcoin are explode this kind of fake news.
At first i was wondering how will bitcoin will destroy the world. As i continue to read this post i just realize that somehow this might be true but lets us not exaggerate that much. Yes, we use a lot of energy to convert it to power for mining rigs for bitcoins but as people always find ways to minimize this cost. We are now in the new era of tech, people will have some innovation to come up with this problem. Somehow some people dont have the heart, all they want is to earn but believe me, there are still have the heart to think about the future effect of it. We just have to be more in the greener side of using power.
Bitcoin will not destroy the world and in fact, it will help the world to become better because of the blockchain that the people can use in order to create more good things in our world like make things easier like Artificial intelligence that is powered by blockchain so it will be more secured and safer compare to the other type of AI.
If we take into consideration mining, i think it deoends on the source of your energy which could be oil, or geothermal, or other sources. As far as i know, most ofthe mi ing facilities are in areas whose enegy source is oil while there are some huge mining facilities that are actually based in areas whetein their sources of energy is geothermal and this is what mostly prefers because electricity fees are cheaper compared to oil. Personally, i don’t think bitcoin is destroying the world because it is not bitcoin that is using energy but we, the people and it is up to us on which source of energy will we be using.
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