Topic: Will bitcoin destroy the world? - page 18. (Read 2009 times)
We had two world wars and they did not destroy the world. What do you think how much energy have they consumed including the production of weapons? I think the energy consumption of bitcoin is peanuts compared to it. I also do not understand why you connect the energy consumption of bitcoin with oil? Bitcoin can run with atom energy and does not anyhow rely on oil, while cars and some machines do.
I don't figure bitcoin can crush the world, it is a contrary perspective of bitcoin. Be that as it may, on the off chance that we say bitcoin enhanced monetary development everywhere throughout the world, I truly concede to that, yet contrary issue of bitcoin business isn't another in bitcoin business, relatively regular there are a few types of antagonistic issues about bitcoin business, possibly on account of the fast prominence and increment of individuals who get to bitcoin that is the reason a bunches of individuals additionally needs to destruct the smooth task of bitcoin.
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!
I do not find a single thing from bitcoin that can destroy the world. Bitcoin is present to make it easier for people in terms of transactions and this will boost the economy of people without having to bother thinking again with all the links with the bank and remittances. Is it a threat to the world? I do not think so.
In general, Bitcoin mining is only using a very small percentage of the world's energy. I cannot confirm the veracity of your computation. That looks rather blown out of proportion to me. Anyway, Bitcoin is so small as to destroy the world. There really nothing that can connect the two. What eventually destroys this world are people who are enriching themselves without minding the rest of the world. Crypto mining on the other hand are already gradually shifting to clean energy.
Bitcoin is a small part of the current technological development, mining does require considerable energy. But it can be said there are still many technologies and other things that consume more energy. I think it's unlikely Bitcoin could destroy the world, Bitcoin was created as a new financial system that is indeed very unusual. have a major impact on the world's financial ecosystem and this is a matter of course worth noting.I can’t imagine that bitcoin can destroy our worl,even the bitcoin can cost that amount of energy, for sure bitcoin is so many advantages that can protect our environment and that’s why so many project are invented that most of the platform is to help our ecosystem.
Bitcoin will never destroy our world but gives us an opportunity to provide all the people a more systematic and organized financial money that will lead to more secure and advanced form of transaction without the intervention of banks and other remittance center.
In the future there will be other ways to mine coins without consuming so much power. There already are coins that consume much less energy when mined.
I can’t imagine that bitcoin can destroy our worl,even the bitcoin can cost that amount of energy, for sure bitcoin is so many advantages that can protect our environment and that’s why so many project are invented that most of the platform is to help our ecosystem.
Bitcoin will never destroy our world but gives us an opportunity to provide all the people a more systematic and organized financial money that will lead to more secure and advanced form of transaction without the intervention of banks and other remittance center.
I can’t imagine that bitcoin can destroy our worl,even the bitcoin can cost that amount of energy, for sure bitcoin is so many advantages that can protect our environment and that’s why so many project are invented that most of the platform is to help our ecosystem.
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 know if mining bitcoin the way we do it today will not be someday changed by another POS way...
It cannot grow forever, for sure...
It cannot grow forever, for sure...
Well, also mining gold requires lots of energy (including exploiting people in very poor countries). The question is: does it worth it? I would say that, as long as miners operate the answer is YES
I agree that bitcoin mining do consume a lot of power consumption that may have contributed to sort of pollution however, in my opinion the consumption could be just very minimal and no a threat to the environment. Considering that many rich countries are into renewable source of energy which I think for some countries that also do mining should also consider using alternative source of energy for it's operation thus minimizing the carbon emission towards the atmosphere. I believe solar energy and wind energy could be the type of renewable source of energy to be develop by any countries that involves bitcoin mining.
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?
that's quite interesting thinking that you have there. well, i think bitcoin power consumption could be from many resources. like electricity through a dam, steam, and many more. i don't think it is necesarry to put the energy that support bitcoin to oil.
It seems to me that mankind still has many ways of extracting energy for so many centuries. And oil is only one of them. Well, if the oil is over, there is still coal. 
That's not true. 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.
What about the paper it is saving. If it is used as a single currency worldwide, you will see that most of printed currency is not needed anymore saving a lot of trees.
if we thingking about that not a big deal for the bitcoin to using that energy, because there has a lot of industry that using so much enegry that we can't imagine and somewhat i don't know how people are getting so neg with bitcoin and just looking in one side of it
to me i don't think, because in this modern era or life bitcoin is what we human need to suffer and help on our daily need, if you really look at this modern life you will see that bitcoin has really contribute a big advantages to our life, so bitcoin helps not destroying
From the point of view of the electricity usage, it will do nothing very really bad. Yes, Bitcoin can really destroy some systems that are used: for instance, banks can lose a lot of their good clients.
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