Will bitcoin destroy the world? - page 19.

Batang Hambog

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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?

If that is true then we are already on the verge of setting up the global warming by adding the mining operations of the bitcoin. The global warming already existed however the thing has gotten intense now a days just because of the bitcoin mining. I believe that the electricity companies might be blessed with the top ups that they are getting but they might be tired by producing more energy than the normal rates

iqlimasyadiqa

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Quote from: Getmon on May 01, 2018, 02:02:08 AM

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.

Gelogelo

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In my opinion, Bitcoin will certainly destroy the world, if you really use it the wrong way. As long as we protect it, and use it in a good way, we also help the world by doing the right thing to prevent global warming.

Getmon

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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.

ghiehhhh101

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well i dont think so, how can bitcoin destroy the world, the people maybe, it has the ability to do it may be making bitcoin as the medium to destroy the world but not bitcoin itself.

MasterCATZ

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anything bitcoin will do,but it will not destroy the world.it is obvious that at the moment bitcoin has only a positive effect

10c

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BuyAnyLight - Blockchain LED Marketplace

I think that you are wrong and bitcoin can not destroy the world.it is obvious that he only creates and creates, and can not bear any negative

aftab.436

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Quote from: upinros on May 01, 2018, 01:44:39 AM

Bitcoin is the only cause of global warming and without it we will have spring all year long. Produce more energy than normal prices. 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.

it isn't valid that the BTC will annihilate the world in light of the fact that the BTC isn't accomplishing something that will produce a results on the world. So I don't thing something that will devastate the world if the BTC wreck the world the greater part of the speculators will be placed in prison as a result of utilizing the BTC and the administration will be restricted it. Subterranean insect the BTC will be check as an unlawful coin. I will have a terrible notoriety to others and nobody will contribute on it. In any case, starting at now the BTC has no terrible notoriety on the general population so it won't decimate the world.

upinros

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Bitcoin is the only cause of global warming and without it we will have spring all year long. Produce more energy than normal prices. 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.

deus030518

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For me it is not true that the BTC will destroy the world because the BTC is not doing something that will take an effect on the world. So I do not thing something that will destroy the world if the BTC destroy the world all of the investors will be put in jail because of using the BTC and the government will be banned it. Ant the BTC will be mark as an illegal coin. I will have a bad reputations to others and no one will invest on it. But as of now the BTC has no bad reputation on the people so it will not destroy the world.

fishball

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Activity: 336

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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?

It would if there are minds that are awefully devilish to do things that would hurt people and destroy the world. But i'd rather say it will help humanity, society and the world we live in to be a better place.

shawa

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I DON'T THINK BITCOIN WILL DESTROY THE WORLD RATHER IT WILL HELP BLOCKCHAIN TECHNOLOGY TO GROW FAST AND IT WILL HELP THE WORLD TO ADVANCE FURTHER IN TECHNOLOGY

prediction on bush

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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.

I strongly agree on your opinion that, mankind an product the energy not only from oil. Because there's also wind energy, sun energy. And soon people will switch to this types of energy product. And adding also my opinion that, I think in the future blockchain will developed energy efficient mining solution to this current problem, but for today the solution for this is by using green energy like solar, wind and water energy to mine bitcoin because this energy is too much efficient in bitcoin mining without destroying the world. In addition, Bitcoin is not destroying the country but is saving the world from destroying. And I think Bitcoin always helps the country. On the otherhand, I think Bitcoin can never destroy the world, this is a misconception. Bitcoin will once again make economic progress around the world.

Merjay18

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Quote from: olegblinov86 on April 30, 2018, 02:56:47 PM

I think the problems with electricity are not serious. Bitcoin does much more good than harm.

I can't say that bitcoin can destroy the world wich in fact it helps many to survive everyday hunger.The electricity issues that we are talking about is already an issue before the existence of bitcoin so how could we blame bitcoin in this matter.Maybe minning has a contribution of the increase of electricity usage but not enough reason to blame blame bitcoin regarding this issues.

kakajones25

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I believe in bitcoin. It is traditional usd in cryptocurrency and it will be used for a very long time. So it will save us frome government taxes.

CrystalPham

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When Bitcoin grows, the problems that computers have to solve in order to earn Bitcoin will become increasingly difficult, meaning that the energy used in the process will need more.

CAPT.DEADPOOL

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PHORE

for me it is not the dev thought to make a bitcoin just to destroy the world and not actually make the bitcoin to make things faster in the world that have not made the other bitcoin made for the people who are poor for their future

Mikasa77

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Quote from: Rupok on March 10, 2018, 09:51:28 AM

Bitcoin is not destroying the country but is saving the world from destroying. I think Bitcoin always helps the country.Bitcoin always shows surprise, and the world has taken a step further. Unemployment has decreased due to the intensity of bites and people are able to earn Bitcoin in the house.

You are right that bitcoin is not destroying the world instead it is saving the world from destroying because people nowadays are wants to do crimes because they want to have money for their families to buy their needs. Bitcoin is helping the world from destroying by giving a job to the people who do not have jobs also, it lessen the poverty around the world.

Xardasim

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Activity: 1624

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Bitcoin will not destroy, it can change money system with it advantages. Time is passing by and everything is refreshing, the meaning of money is also modified according to time.
I think that the price of petrol will be equal to water after a few years. And when the time will came, we can get a petrol station for 1 Bitcoin.

olegblinov86

jr. member

Activity: 154

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I think the problems with electricity are not serious. Bitcoin does much more good than harm.

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