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Author Topic: Bitcoin mining is winning  (Read 215 times)
Fuso.hp
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September 14, 2023, 08:57:31 AM
 #21

Mining is profitable for those who can mine Bitcoin properly. It is wrong to think that Bitcoin mining can be done only if you have some knowledge about mining. Before starting Bitcoin mining you need to calculate the amount of money you will spend on mining whether buying BTC with that amount will get you more BTC than mining or less BTC than mining. Mining usually requires high amount of electricity, if the electricity price in your area is low then you are welcome to mining because you can make profit in mining but if you think electricity price is high in your area then you should avoid Bitcoin mining. Bitcoin mining with high electricity cost will make you loss instead of profit.

R


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Eureka_07
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September 14, 2023, 10:42:26 AM
 #22

<snip>
Compared to other activities, Bitcoin mining doesn't contribute significantly to pollution.
I agree with the speculations that many politicians and people who oppose Bitcoin are simply afraid of it, possibly because it could disrupt their businesses. Indeed, energy consumption is one of the challenges of Bitcoin mining, but companies are making efforts to address it by switching to renewable energy sources to power their operations.
Let's also hope that more efficient mining hardware will be developed in the coming years; this would significantly reduce the energy consumption of Bitcoin mining.

Jon_Hodl
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September 15, 2023, 11:03:49 AM
 #23

When politicians say one thing but the facts say another, it makes you wonder why they're not on the same page. But regardless Bitcoin mining is winning. Some politicians who don't get it might complain, but entrepreneurs, investors, and operators will keep making progress.

Politicians are not in the business of facts, data, and being right. They are in the business of telling people what they need/want to hear in order to get votes. Once they are elected, they couldn't care less about truth, facts, or data. They are accountable to nobody and can do what they please. I have a feeling that as soon as BlackRock or one of these massive corporations has an ETF approved, the narrative about Bitcoin's energy consumption will completely change and all of the sudden it will be all about "supporting renewables" or "maximizing green energy" or something that lines the pockets of the ultra rich cantillonaires while feeding the masses whatever lies they need to hear.

Bitcoin mining is winning because it provides an honest incentive to anyone in the world with access to electricity at a price worth mining. As long as that incentive exists, then we will continue to win as each new block is mined.


I'm here to chew bubblegum and stack sats....and I'm all out of bubblegum. - Learn More About Bitcoin: What Is Bitcoin?
ultrloa
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September 15, 2023, 11:43:57 AM
 #24

Some people who don't like Bitcoin have been criticizing it. They say Bitcoin mining uses too much energy and harms the environment. But often, these critics are supported by other digital currency teams that want to beat Bitcoin.

Now Imagine a game where people are trying to win by looking good and saying they care about the environment. They're playing this game in politics. Recently, in New York State, they passed a rule to stop Bitcoin mining. They say it's because they want to stop using dirty fuels for energy (Avoid Pollution). Bitcoin miners and data centers don't actually create pollution. They're not the ones causing the problem. Instead of dealing with the real issue, some politicians are just trying to score points by targeting Bitcoin.

When politicians say one thing but the facts say another, it makes you wonder why they're not on the same page. But regarless Bitcoin mining is winning. Some politicians who don't get it might complain, but entrepreneurs, investors, and operators will keep making progress.

They only use that issue so that they can crumpled the operation if bitcoin but those people didn't succeed since many are still interested about mining.

To many cause pollutants in environment and for sure bitcoin mining doesn't give any huge effect compare to those companies who release carbon monoxide and other harmful chemicals. Also the transportation industry where cars contribute a lot of damage so its unfair that those people criticizing bitcoin mining didn't consider all major factors that destroy the environment.

R


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