Topic: Will bitcoin destroy the world? - page 7. (Read 2008 times)
Bitcoin will definitely not destroy the world, but I agree that transactions costs (power spent on calculations) should be reduce; there are some coins that solve this problem but they didn't become popular yet
The entire electricity cost of mining bitcoin are not much if you compared with global usage of electricity.
so it won't destroy the environment of earth. what can destroy the world is if bitcoin used for something bad.
so it won't destroy the environment of earth. what can destroy the world is if bitcoin used for something bad.
The bitcoin will not destroy the world it can help the world from helping the people that they dont have a money to invest.
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?
The energy consumption bitcoin could be really expensive but I think crude oil is not the bases for its consumption in energy because there are other sources that are environmental-friendly. I think it is also time to create an innovation in producing energy to sustain our technologies. The main source that is my personal favorite is the sun.
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?
Maybe in some aspects, bitcoin may become one of those things that may cause to destroy the world but also it is one of the cause to help the people to earn. For me, bitcoin is not the one who's destroying world. The one who's destroying it is us. Every living person. We create bitcoin, we use the nature to earn, we take everything that can not be returned or replaced to the nature. So bitcoin is not the one but people.
theoretically - bitcoin has many advantages and advantages that will really help the world and society. and on the other hand - the question of implementing this concept .. this is difficult to predict, because the same virtues can not play in favor of society.
i don't think so it is possible because bitcoin is a good thing a good solution for online payments a good payment method and easy to use so how can bitcoin destroy the world
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?
There are more practical sources of energy like wind and solar energy. We don't have to use a lot of coals and crude oil just to produce electricity. We are moving toward technological advancements so surely alternative sources of energy will be upgraded also. So I say that bitcoin will never be the cause of destruction of the environment. There are other things that contribute more in harming the planet like the too high number of private vehicles.
I don't think so, even though it uses a lot of power and energy but
I know we humans are very resourceful and creative. Bitcoin has the advantage and disadvantages. But it also proven its help to the people and economy. G
I know we humans are very resourceful and creative. Bitcoin has the advantage and disadvantages. But it also proven its help to the people and economy. G
Mining profit should ideally outweigh electricity cost, if its done right, it should not only not destroy the world, but also bring new benefits to it.
Bitcoin will not destroy the world, that is a certainty, as much as there is a lot of energy and power that goes into mining and transactions, Bitcoin is the last thing that we should be worried about when it comes to a possibility that that it will destroy the world. there are other things such as nuclear power that has high chances causing the world harm
It's not a big deal for bitcoin to use that energy because there are so many industries that use so much energy we can not imagine later and how people become so desperate with bitcoin and see only one side only. 
It's not a big deal for bitcoin to use that energy because there are so many industries that use so much energy we can not imagine later and how people become so desperate with bitcoin and see only one side only.
I don't think bitcoin will destroy the world.I It is an opposite view of those people who don't like bitcoin. On the other hand i think bitcoin can help the people and the country for growth and success.
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 that Bitcoin can not destroy our world.Bitcoin can help us to make money.Now it cost 9100$ and in 16 it cost 30000$
Of course not surely this is the main thing i guess that helps you to have a financial freedom to each one of us s long as you support,invest and do the job to earn from it.
I think nope it can never be a destroyer in fact it is helpful to everyone who uses this 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?
It is impossible. It is the bitcoin that will be destroyed by the world. Bitcoin will collapse through incriminating government regulations. The risk of financial anonymity will eventually create an environment where regulation will destroy Bitcoin.
Jump to: