Bitcoin and global warming

[pabpete]

As far as i know Banking system has a worst impact to the enviroment than Bitcoin

Yes and there are a lot of bigger problems than just bitcoin so we cannot speculate that this has the biggest impact on our coin (global warming).

[cizatext]

Well that is base on your assumption bit let me ask this fundamental question have you try to take into consideration the impact of the external forceyon bitcoin mining such as the government policies that may make mining almost impossible and also the high cost of mining activities and how high electricity billing may be in the host region, so trying to compensate the active miner may be I drop in an ocean.

[CryptoFeller]

Bitcoin transaction and mining consumes a lot of computing power and electricity. Therefore depending  on how the energy used to power the computers are derived, it could contribute to global warming.
Thus when it involves the elimination of green house gases.

[nick_nick]

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.

I think mining cryptocurrency activity is still not comparable with carbon monoxide gas from motor vehicles, greenhouse effect, forest destruction, industrial electricity usage etc.

I highly support this assertion. The extent of pollution caused by motor vehicles and other carbon monoxide emitted gadgets can never be compared to mining of cryptocurrencies. Although mining has some noxious effect on the climate, the most cause of global warming has not been bitcoin mining.

[sevenonetwo]

Yeah, bitcoin mining requires very large electrical energy. One of the impacts of the magnitude of electrical energy is global warming. Indeed, the massive and continuous use of energy is very bad, especially for the defense of our earth. But global warming is not solely the result of bitcoin mining. A lot of factories that operate with electricity are also quite large and not environmentally friendly. Not to mention the use of non-environmentally friendly electricity which is done in a closed manner. Indeed as connoisseurs of energy we must be wise in using energy that we can save from ourselves. So it's not only the miners who are wrong but our role is also in maintaining energy.

[niteroy]

The production of 1 BTC is really expensive and in some countries the cost can be even greater. The fact is that mining equipment ensures the stability and security of the entire Bitcoin network. I think that for example the banking sector, Visa/Mastercard service costs more than Bitcoin's network service and involves more people than Bitcoin.

[Raggie]

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 thing global warming is caused by O3, mining bitcoin not producing that kind of waste.
Another thing causing global warming is the heat. The power generator for electricity is not produce heat too much.

[p4npos]

Instead of putting their entire focus on Bitcoin and global warming impact, the governments should regulate the industries and factories that are puffing smoke for fun. They should not get involved in politics and lobbying and put their time in regulating the laws and regulations.

[Fineyokoma]

Yes, I think that BTC is the great solution to fix this issue. We will cut down less trees and use more online transactions to send money

[tracy2233]

I think all the developments and technologies around the world are somehow affecting the mother nature in their own terms. Similarly, Bitcoin mining is. There is need to think out of box how the efficient technology can be used without degrading the mother nature. By adapting and adopting the safe energy consumption methods and reducing the carbon contents we can go long way with anything and can make bitcoin=/= global warming.
                                                                                                                             

[iv4n]

The history of the scientific discovery of climate change began in the early 19th century, bitcoin will not speed or slow that changes. Nations around the world are upping their game in the fight against climate change, but what we really need is green energy, or renewable energy. Bitcoin as new technology will be combined with new technologies for renewable energy, many types of renewable energy resources such as wind and solar energy are constantly replenished and will never run out. Energy from sun and thermal water. there are a lot of green energy around us, bitcoin will have to be combined with them. Just to give you info that you didn`t know maybe, Iceland is the only country in the world that obtains 100% of it`s energy from renewable resources, its currently like that, but in future many countries will be there.

[Masatos]

by the way, in fact, everything is correctly described by the author. how much energy should be spent on the vital activity of the entire crypto industry and how this can badly affect the ecology

[alexsandre]

Bitcoin is now a frequent topic for discussion and with bitcoin you can get a good profit if you know how to work with bitcoin

[Heather Santos]

Mining Bitcoin needs  little energy, not enough to become a reason which lead to global warming. Because  evoking global warming concludes of many factors such as cacbon dioxit, gas from factories, vehicles and so on. What we need now is change to protect environment but not to stop mining Bitcoin.

[mekie]

The only  way to minimise your carbon footprint while mining, is by buying your electricity from a supplier who supplies % renewables generated electricity-certainly in the U.K. there are a number of such companies. These companies ise either solar, wind or other sources of energy to generate power.

[CrimBit]

Cannot be denied if the entire global economy is based on the source of mining and burning energy that has been stored on Earth for millions of years. and it is also true that large amounts of electricity are used only by running mining / rig hardware. But I think this is totally irrelevant overall, knowing that there are power plants and other items out there that consume one hundred times more electricity than GPUs and ASICs.

[Odlanyer]

Bitcoin mining is really contributing in the global warming because it will use energy and electricity expense should be one of our priorities and the countries which do not find any allegations against bitcoin to ban it may use such complaints as global mining due to bitcoin mining to ban bitcoins.

[tungaqhd]

In fact, banks use more electricity to work than mining coins and keeping server online and banks need server online too. There are many new technology that can help cryptocurrency save more electricity.

[iMark]

As far as i know Banking system has a worst impact to the enviroment than Bitcoin

Yes and there are a lot of bigger problems than just bitcoin so we cannot speculate that this has the biggest impact on our coin (global warming).

Lol how can the banking system make global warming, can you explain the reason? in my opinion there is no direct correlation between the bank or bitcoin system with global warming or the environment, banks use online systems as well as bitcoin, is that bad for the environment?

[xcajun21]

It will probably change with LN and all that. I think the issue is who holds the majority of the network. If the average joe decides to stop using other electronic devices in his home, but rather mine... it is not a problem. Is a problem if highly profitable mining facilities use bitcoin mining inefficiencies to gain this profit from their massive clusters of mining equipment that only requiring a few people. I can mine and also plant trees in my garden. I am not a big facility to have this problem.