Topic: Will bitcoin destroy the world? - page 17. (Read 2014 times)
Governments are the ones who threaten destroy the world with their mass destruction weapons. And those toys are financed with fiat money, not Bitcoin.
I have to admit that I don’t perceive bitcoin. Go ahead: browse the Wikipedia entry for the way bitcoins square measure “mined” and see if you'll are aware of it. the worth of it's soaring once more on the market nowadays, to over $15,000 currently $18,000 currently $19,000 (this movement happening as I write this item!) in what feels like a classic bubble. i feel I’ll continue my hypothesis that bitcoin, and its correlative development, blockchain, square measure very a complicated Bond villain plot to crash the world’s markets somehow, style of an imaginative remake of Goldfinger.
Maybe I don't understand the question, but I think, there are a lot of spheres that consume more power than mining rigs and destroy ecology of our earth. It is no doubt that Bitcoin can influence on the economy of every country, but it has no power to destroy the world (especially if to speak about influence of mining rigs on ecology). People all over the world use more electricity to light roads at night than for the work of miners!
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I agree with you. Using electricity , bitcoin oould not be able to destroy the world. It depends maybe on how big the gadget they’ve been using and if it is being installed by the element that will
destroy the world. According to an article that it is safer to do mining bitcoin through internet than mining metal gold that really destroy the environment just like making a tunnel underground and cleasing those granules of gold into the river that causes contaminating the body of water.
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I agree with you. Using electricity , bitcoin oould not be able to destroy the world. It depends maybe on how big the gadget they’ve been using and if it is being installed by the element that will
destroy the world. According to an article that it is safer to do mining bitcoin through internet than mining metal gold that really destroy the environment just like making a tunnel underground and cleasing those granules of gold into the river that causes contaminating the body of water.
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?
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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.
That idea is impossible, infact bitcoin right now is helping people to have their partime job to earn extra income. So the idea of bitcoin destroying the world is so unrealistic so please stop believing that thing about bitcoin. I know bitcoin will make a world a better player instead.
You have wild imagination their, If Bitcoin is also used for a cause then it has the greatest impact on the charity history, make point?
if it is said to be bitcoin economic growth around the world, I strongly agree with that, but the negative issue of bitcoin business is not a new bitcoin business, probably because of the popularity and fast increase of people accessing bitcoin.
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.
Why do you say that, BTC is now widely available in the market. It is not easy for BTC to destroy the whole world, BTC has created a lot of profits for the smart investors, helping them quickly get rich thanks to them.
Bitcoin will continue to penetrate into people's life , still there are many people who even do not know the word bitcoin. Once there it popular among vide range of people, it will definitely be the currency of next generation.
There's a difference between bitcoin and mining, I understand that to some degree they are synonymous, but they do not need to go hand in hand. The lightning network will to a large degree cede most of the environmental cost of bitcoin mining, as the bulk of the transaction will be handled off-chain. Also, bitcoin has the potential to remake the world borders, bringing the world together so that the energy concerns are less problematic than they would be now.
yes, bitcoin is the only cause of global warming and without it we will have spring all year long. bitcoin is also evil and eats babies.
it is not at all like bitcoin is providing anything useful. and nobody has ever used bitcoin for anything meaningful like as a currency or anything like that. it is just there to waste energy.
Hahaha! I loved the sarcasm...or are you being serious? Anyways, I just don't see how will Bitcoin destroy (which is quite extreme!) the world, environmentally that is. It is quite energy sufficient compared to the other industries. Just take NASA for example, how many tons of fuel do they use for a single lift off? Quite a lot!!! And they run their station/s 24/7 using up quite an amount of electricity all year round. Now I don't hear anyone complaining about that. Bitcoin is small time in terms of energy usage compared to those industries that have been operating for generations. So I don't see this as an issue. it is not at all like bitcoin is providing anything useful. and nobody has ever used bitcoin for anything meaningful like as a currency or anything like that. it is just there to waste energy.
As much as Mining BTC requires lots of energy out put, I don't think It will destroy the world, there are lots of other environmentally unfriendly activities in the world that are far much worse than BTC mining.The Bitcoin Activities doesn't have direct effect on Humanity as much as things like industrial Pollution does, its just a revolutionary technology that is meant to improve financial transactions and offer better services. Human activities such as war are more likely to destroy the world, more than BTC
we live in a rapidly changing world and must learn to adapt if we are to succeed,i think bitcoin will change the world, not destroying it.
Chill out, bitcoin will not destroy any world because there is enough electricity in the world and people are producing it everyday. Your numbers can be correct but still that doesn't affect us in any way because I am sure they are not so bad as they seem because Visa card network doesn't work alone. There are tons of people and machines that have to take care and update it every hours in order to dont be hacked. Visa cards are created by banks which also require a lot of energy to works.
In reality, the production of energy should not be a reason that leads the world to its destruction, as it is well known that energy abounds in the universe, but human beings have been especially inefficient when it comes to taking advantage of multiple sources of renewable energy that we have at our disposal, and we have become excessively dependent on the most harmful energies.
If something characterizes the crypto universe is its ability to innovate and adapt to the continuous challenges that continually emerge everywhere, so I have no doubt that very soon we will have real, practical and sustainable solutions for this problem that has been so present in the mind of many.
If something characterizes the crypto universe is its ability to innovate and adapt to the continuous challenges that continually emerge everywhere, so I have no doubt that very soon we will have real, practical and sustainable solutions for this problem that has been so present in the mind of many.
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?
If you compare the energy consumption of the financial system with household energy consumption compared to unreliable comparisons. Compare the energy consumption of cars with horses. Where can we say horses if more environmentally friendly. Energy is needed for human life. 
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...
I dont think that bitcoin will destroy the world. Yes its true, bitcoin mining uses a lot of electricity. ANd yes, these amount of electricity who is used is not good for the enviroment. But you just have to know, that were are on the climax of mining. So there are so many miners online, and they made just so small profit. So it will come the time, when the most miners will not make any profit because of the elctricity cost. SO when thes happends, you will see that a lot of mining farms has to go offline. ANd then bitcoin will use less electricity.
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