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Author Topic: Bitcoin and global warming  (Read 1145 times)
Daybreak76
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July 29, 2018, 11:43:44 AM
 #101

The craze of btc will surely be the cause of global warming.
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RingWiki65
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July 29, 2018, 11:46:16 AM
 #102

I think the bitcoin can make some CSR so they can help the nature from destruction. It will be helpful.
Edward Wilkins
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July 30, 2018, 12:54:44 PM
 #103

 I don’t think mining contributes to global warming.
 People usually forget the following fact:
"Fiat requires commercial banks, central banks, ATMs, armored cars, hundreds of thousands of employees, among other things to work. The central bank, in this case the FED, does not magically distribute the US dollar to every person in the country at their doorstep."
 This is interesting, because even mining methods can be solved to decrease energy consumption. Also blockchain can help at the distribution of renewable energy, using smart contracts. Other applications of blockchain can also contribute for business and generally, to the democratization of the global economy. I see more pros than cons to society, if you balance !
Sydney Chapman
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July 30, 2018, 01:07:33 PM
 #104

Maybe. Because each bitcoin transaction requires a tremendous amount of computing power, each Bitcoin transfer uses enough energy to run a comfortable house, and everything in it, for nearly a week. Bitcoin miners worldwide are using about enough electricity to at any given time to power about 2.26 million American homes. Since a good deal of this is coming from burning coal and other fossil fuels, that is a lot of CO2 being put into he air.
Kate Beckett
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July 30, 2018, 01:11:13 PM
 #105

Mining of bitcoins can accelerate global warming. The central place in the existence of bitcoin is the mining of this crypto currency. To carry out such work requires a large amount of electricity. Most of the electricity is produced by burning coal. As a result of coal combustion, carbon dioxide emissions into the atmosphere increase. This gas is the main factor of global warming.
ngalamunan
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July 30, 2018, 07:52:56 PM
 #106

Energy for mining is quite an impact on the environment. So I see there are many mining projects that carry environmentally friendly projects by utilizing a variety of alternative energy.

at this time such a project quite a lot, because at this time the miner was also quite familiar with bitcoin. so the more here the miners will surely be more and more, but such mining is diverse

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degelio
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July 30, 2018, 07:55:43 PM
 #107

As far as i know Banking system has a worst impact to the enviroment than Bitcoin
stayeduptolate
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August 01, 2018, 05:20:07 AM
 #108

I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Alleviating the electricity expense should be one of our priorities. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
Some solutions exist though: first there is proof-of-stake, of course. This technology may be too young to be deemed reliable enough but we should at least start considering it.
If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. To make miners agree with that solution, they must be compensated for their lost income.  More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
I don’t think that bitcoin has nothing to do with global warming as bitcoin and global warming are entirely two different topics but yes I heard this rumours too about bitcoin then in the coming decade bitcoin is going to use double the amount of electricity as used by the entire world then in turn bitcoin could be responsible for the global warming but I want to say that just once think about this that is it ever possible that bitcoin is consuming that amount of electricity, all I think is that this is a rumour only spread by one of the bitcoin hater.

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ListingOnly561
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August 01, 2018, 10:44:31 AM
 #109

Btc and global warming are two different side. Those won't make any difference.
OffGrid54
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August 01, 2018, 10:46:40 AM
 #110

Well the popularity of btc is huge. Lots of person are now involve in btc. I don't think the body temperature of those person won't be a cause of global warming.
polyballz
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August 01, 2018, 10:57:53 AM
 #111

I think that electrical energy is okay if it is used for positive things, if the electrical energy is not used for bitcoin mining, this energy will be used for other things, because the common sipat, for example to support online games that are now crowded. but this is great for anticipating future global warming.

ComaJoma
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August 01, 2018, 11:01:54 AM
 #112

Unfortunately, it seems to be true and mining contributes a great deal to our climate change. But it's not the only factor and I believe the decision-makers around the world are aware of and working on it. At least, I like to think so...
Doctor4You
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August 01, 2018, 11:14:37 AM
 #113

Come on! That sounds ridiculous! What do you mean Bitcoin can consume more energy and do more harm to the nature than coal mining, oil refineries, landfills and other non-btc-related stuff which probably far outweighs the potential damage Bitcoin might be doing to nature?
Sounds prejudiced.
But don't get me wrong, I do know it has an adverse effect on Nature. Just don't want to exaggerate and shift the responsibility onto bitcoin alone. I believe all people MUST think more carefully about the environment.
joelou
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August 01, 2018, 12:28:57 PM
 #114

I think bitcoin is not responsible for global warming.  I think the reason why and the responsible for global warming all factory and  because the big volume of public vehicles.

Hammer45head
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August 01, 2018, 10:12:17 PM
 #115

I don't think Bitcoin is the only factor in global warming, but it is definitely one of the most significant factors contributing to it.
kwusu
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August 01, 2018, 10:30:46 PM
 #116

Electricity is very vital as far as bitcoin and cryptocurrency mining is concern. Bitcoin mining consumes a lot of energy which in one way or the other adversely affect our environment and increases tariff too. Energy are force to be produced to meet the demand of high energy consumption by the mining machines. It is good the the 4new project has come which aim at solving this energy crisis in crypto mining and the hazard we are exposed to during energy production.
Kunal666456
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August 07, 2018, 05:13:57 PM
 #117

the cryptocurrency website Digiconomics said that worldwide bitcoin mining was using more electricity than Serbia. The country. Writing for Grist, Eric Holthaus calculated that by July 2019, the Bitcoin peer-to-peer network—remember BitTorrent? Like that—would require more electricity than all of the United States. And by November of 2020, it’d use more electricity than the entire world does today.

 It means Bitcoin emits the equivalent of 17.7 million tons of carbon dioxide every year.
semimall
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August 07, 2018, 05:20:38 PM
 #118

in some countries crypto money mining is growing astronomically and electricity consumption is increasing. governments and electricity producers should focus more on this issue.
djcounter
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August 07, 2018, 05:26:32 PM
 #119

I think our main problem is the huge electricity expense induced by mining and its noxious effect on the climate. This is, to my mind, the only serious argument against Bitcoin.
Alleviating the electricity expense should be one of our priorities. If we do not do it for the sake of the Earth (which we really should) we should at least do it selfishly because governments will not tolerate this forever and they will be right. The more the exchange rate increases, the worse it gets, of course.
Some solutions exist though: first there is proof-of-stake, of course. This technology may be too young to be deemed reliable enough but we should at least start considering it.
If we do not like proof-of-stake I think we could drammatically decrease the electricity expense by stopping monetary creation now. Nowdays Bitcoin is famous enough to remain secure even if miners earned transaction fees only. And if as a whole there are 16.5 M coins instead of 21 M, this does not make much of a difference. That is even good for holders. To make miners agree with that solution, they must be compensated for their lost income.  More precisely, active miners must be compensated because they have already bought ASICs. Futures miners do not need to be compensated. Since mining is a competitive industry, future miners will make no profit on average, whatever the reward scheme. To compensate active miners we could decide that the next 2016 blocks yield, say, 100 new coins and then 0 forever. Everybody would win and the Earth above all!
There are probably many other solutions and I wish the community cared a little more about this fundamental issue.
The cost of mining electricity is far less than the cost of printing banknote.

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Jessica2009
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August 07, 2018, 07:09:32 PM
 #120

  Bitcoin is a  cryptocurrency  with secret computer online currency that has no physical form as fiat currency  . We have to buy Bitcoin  from exchanges online or by mining . Cryptocurrency is said to becoming a major contributor  to the man made global warming .There are predictions that Bitcoin consumes more electric current for mining Bitcoin the massive use of energy conception leads to global warming . Now Bitcoin miners says that Bitcoin mining causes more electric consuming  that have to lead to global warming .

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