Bitcoin Forum

XNF-NoFiatCoin which is a pre mined digital currency backed by gold declares that-

It wants to avoid problems associated with mining: waste of computing power, energy and the possibility of a mining pool taking control of the market by acquiring 51% of all available mining capacity.

http://www.prweb.com/releases/nofiatcoin/xnf/prweb11494965.htm

There are millions of people who are into Bitcoin mining which consume so much electricity, efforts and investment in hardware. Is mining an act which is against going green? Is there a possibility that total costs of all miners put together is more than what is earned through mining?

No, a hard currency like Bitcoin is pro-environment!

Why? Because fiat money relies on the constant growth of debt.

Without increasing populations, increasing consumerism, increasing inflation and increasing debt, the debt backed fiat system fails.

This is bad for the environment because it encourages people to consume more than they need or require.

We're at peak oil, going forward will be a deflationary environment, this is a perfect environment for a hard currency based on the price of energy.

Bitcoin's mining effort makes the transaction more secure and fairly distributes the coins to those who help build the transaction network.

When people say "easy coin" they mean "less secure coin". When they say "pre-mined" they mean "un-fair advantage"

All currency is managed and run eclectically, More electric is used to run the worlds ATM,s, payment systems, etc that used in virtual currencies.

Currencies having a green issue, FFS, lets all go back to Cowrie Shells.

Sorry, no offense, but I am no interest in a centralized coin at all...

... and just think of all those bank towers all over the world with their lights on at night... that could all be completely done away with ;)

That's untenable. Think of the poor cowries!

I have found that bitcoin mining is VERY green, although not as green as I had hoped.

Unfortunately,  it seems to be less green over time and will eventually turn red.

The funny thing is Gold is really "un-green".

Mining gold involves massive amounts of energy and churning of the land, to find relatively tiny amounts of gold specs.   Then after we spend all that effort and energy, we store it in the ground in bars and hire armed guards 24x7 to protect it.

I love gold.  I'm a gold bug.  BUt I'll never buy the arugment that gold is more ecologically friendly than bitcoin,

This.

Bitcoin mining is a NO GREEN act because that requires a huge amount of electricity.

Exactly! That is why i believe bitcoin should be made a pre mined digital currency like XNF-NoFiatCoin

People can be involved better ways with it

Year, this Gold really is remarkable green

http://www.mongabay.com/images/peru/aerial-rainforest/Flight_1022_1516.JPG (http://travel.mongabay.com/pix/peru/aerial-rainforest-Flight_1022_1516.html)


...not

Do you think the ratio of NO GREEN in gold mining and bitcoin (mined currencies) will be equal?

I guess the ratio will be 1:100 (Gold:mining digital currencies)

The other way around. Mining gold does serious damage to the environment, while mining BTC just requires electricity, which only does damage if provided by fossil resources (coal, oil).

The minority of electricity is created this way and steadily decreasing.

I agree with the original post (Answer to you too) which says- Mining is waste of computing power, energy and the possibility of a mining pool taking control of the market by acquiring 51% of all available mining capacity. There are millions of people who are into Bitcoin mining which consume so much electricity, efforts and investment in hardware.

And I support pre mined currencies like XNF-NoFiatCoin

May be bitcoin can also be made a pre mined in future believe everything is possible.

No, it can't. And you're a troll.

Please educate yourself before shooting something off your mouth.

In Internet slang, a troll (/ˈtroʊl/, /ˈtrɒl/) is a person who sows discord on the Internet by starting arguments or upsetting people,[1] by posting inflammatory,[2] extraneous, or off-topic messages in an online community (such as a forum, chat room, or blog), either accidentally[3][4] or with the deliberate intent of provoking readers into an emotional response[5] or of otherwise disrupting normal on-topic discussion

http://en.wikipedia.org/wiki/Troll_(Internet)

I've been doing this "internet" thing for much longer than most of the people here. As an active participant in usenet, I learned a very, very long time ago what a "troll" was. I have an email address -- still active today -- that pre-dates both the invention of the World Wide Web and the invention of spam. So when you go telling me to educate myself, I can only shake my head at what a stupid FUCK you are.


Yep. That's a troll. And you're it. Though I'll accept the possibility that you're just retarded.

Let me know if you want to talk on topic or stay away if you don't like to. Thanks!

You are either living on another planet or in denial.  The planet I'm on, the vast majority of electricity is generate by the burning of fossil fuels fossil fuels, coal, gas and oil.

Source (http://www.oecd-ilibrary.org/sites/factbook-2011-en/06/01/04/index.html?contentType=&itemId=/content/chapter/factbook-2011-49-en&containerItemId=/content/serial/18147364&accessItemIds=&mimeType=text/h)


What we really need is something like a Folding@Home coin, where we could do some good for the world while destroying it slowly at the same time.  :D

Probably Satoshi Nakamoto should come out to make bitcoin 100% GREEN and send all miners to a long mars holiday  ;D

Bitcoin should set aside some funds to donate to NGOs working on green projects.

Could you please care to explain how talking about GREEN is so or you don't accept that mining is indeed a NO GREEN act?

Its not like I am in oppose of bitcoin but yes there is somewhere all those mining, computing efforts, investments are a bit unnecessary and I believe pre mined cryptos like XNF-NoFiatCoin or XRP are somewhat in a better position as far as a digital currency is concerned. Sadly, digital currencies nowadays are attached to mining only but the reality is that they are much more than that.