Bitcoin and pollution

[jevee]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

[MediChain]

It's all about changing to renewable energy. You can have the bitcoin network working renewable energy and everything is just fine!

[MissionPhailed]

Never thought about crypto and pollution but recently read an article about one single Bitcoin transaction using as much as electricity as a dishwasher over an entire year. See if I can find the article. And yes, a transition to renewable energy is vital. Not only for crypto but for mankind itself too.

[hitrawal91]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

Yes, it really a serious problem for Miners and for the country also, as the electricity which is been used for bitcoin mining by the mining network is really high and this electricity can be used for some other purposes also if the consumption decreases to some extent. The solution for this is that we need to replace this electricity with renewable energy something like either Solar energy or Mechanical energy or we can also develop our processing systems and units by which we can start consuming lesser energy. I have found an article that shows you that Bitcoin mining consumes more electricity a year than Ireland.  https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland

[Reid]

It can be connected with mining as it eats up a lot of energy.
But when we compare it with fiat then it is more of a problem.
Paper from trees. Taking them all out just so to produce a good kind of paper.
It is all the same. We are the ones polluting this world. Why it would just have to be bitcoin in the center right?

[danggoron]

It can be connected with mining as it eats up a lot of energy.
But when we compare it with fiat then it is more of a problem.
Paper from trees. Taking them all out just so to produce a good kind of paper.
It is all the same. We are the ones polluting this world. Why it would just have to be bitcoin in the center right?

You are right, the link between bitcoin and pollution is in its mining activity. In an article, mentioned that in every mining activity can produce 24-40 tons of carbon dioxide. This could worsen the greenhouse effect.
Yea, it would get worse when coupled with fiat production that uses paper that is basically made from tree trunks processed. Must be sought the best solution to prevent the occurrence of increasingly heavy pollution.

[npredtorch]

It's all about changing to renewable energy. You can have the bitcoin network working renewable energy and everything is just fine!

I agree but the problem is with the miners. We're not sure if they will care about this issue.
It's guaranteed that they will consume a lot of time building the platform for "renewable energy" (like in building a solar powered mining centers). That would also costs them more money considering the amount for maintenance of this green source. As a normal person, I doubt they'll choose the hard way.

[dothebeats]

That's why some groups of people who are using bitcoin want to change the algorithm from PoW to PoS mainly because of the increasing heat dissipation of mining rigs and the amount of power they needed to utilize in order to obtain bitcoins and maintain the integrity of the blockchain and second, to keep centralization away from bitcoin (which I don't think will be solved when we switched to PoS). Sooner or later, more greener alternatives would arise that generate electricity efficiently and cheaply. China's bitcoin farms benefit from that, from hydroelectric power plus the cool ambient temperature of their mountains that's why most large farms are situated in there. Using coal for electricity takes a huge amount of money in the long run and surely, mining operators would look for cleaner and cheaper alternatives around.

[squatz1]

It's all about changing to renewable energy. You can have the bitcoin network working renewable energy and everything is just fine!

Even with this, it's not fine, it's just that the power itself is coming from a better source -- though a massive amount of power is actually being used, it's just from a better source. So yes, Bitcoin is helping to increase pollution -- but it's nowhere near the amount that the largest polluters, cows and other livestock, put into the environment.

This is why other coins tout the ability to use less power though the only time this will matter is if bitcoin gains a global foothold.

[teejaymuna]

Yes, BTC mining consumes a lot of energy and being that most countries participating in BTC depend largely on fossil fuel as energy source, it does create a negative climatic effect. However, I strongly think that BTC mining contribution levels are very minimal and our climate will still be less habitable if BTC miners completely use cleaner energy sources for mining operations.

[Silberman]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

A significant amount of miners in China use power that is generated from hydro plants, so bitcoin is not as polluting as people think, while hydro plants require to change the landscape in order to produce energy once all that is done is one of the cleanest forms of creating electricity so to make this assertion that bitcoin is polluting the planet seems to an exaggeration.

[Cardan0]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

The obvious solution would be to radically change the way bitcoin is mined. As we all know, that is not possible at the moment as Bitcoin is kidnapped by a band of large farms and has lost the community guidance. Eventually, that may kill the coin.

[Cardan0]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

A significant amount of miners in China use power that is generated from hydro plants, so bitcoin is not as polluting as people think, while hydro plants require to change the landscape in order to produce energy once all that is done is one of the cleanest forms of creating electricity so to make this assertion that bitcoin is polluting the planet seems to an exaggeration.

Whatever energy you use for bitcoin is energy that you cannot dedicate to other uses. So even that energy is renewable, it means that non renewable energy has to be consumed for other uses. It would only work if every bitcoin farm invested to have their own clean power supply.

[vicemi]

what has one to do with the other?

[HeRetiK]

Bitcoin mining is most profitable in places where electricity is the cheapest. Electricity is cheapest were its supply outweights its demand. As electricity is hard to store, any supply that exceeds demand is simply lost. It follows that Bitcoin mining mostly uses leftover electricity that otherwise would have gone by unused.

So far PoW appears to be the cost of maintaining a decentralized digital currency, since PoS is a questionable alternative and most other approaches rely on centralized entities. Assuming decentralized currencies are something worth striving for and are able to meaningfully replace large parts of the financial system and reduce spending on literal mining of precious metals, the environmental impact might be a net positive in the long run, given that both sectors require a lot of human and natural resources, which arguably could be better spent elsewhere.

[jseverson]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

Unless the said prospective investors are hardcore green supporters, it shouldn't faze them from investing. People still use inefficient cars, still throw trash everywhere, and some don't even believe that pollution can impact the global climate. They're going to look at one thing only, and that's their bottom line.

What it could affect though, are governmental regulations. If this starts getting some real traction, it could turn into a demolition job by the media and green groups. That could throw off potential investors.

As for solutions, miners could start using renewable energy, which some are already doing. Bitcoin could also do away with PoW, though I can't really propose any alternatives.

[WhaleSlayer]

This is actually one of the critical issues regarding Bitcoin's tech. The Bitcoin network is consuming the same energy as the whole of Ireland - and rising. This is not sustainable.

[btcluisdiki]

Bitcoin mining is most profitable in places where electricity is the cheapest. Electricity is cheapest were its supply outweights its demand. As electricity is hard to store, any supply that exceeds demand is simply lost. It follows that Bitcoin mining mostly uses leftover electricity that otherwise would have gone by unused.

So far PoW appears to be the cost of maintaining a decentralized digital currency, since PoS is a questionable alternative and most other approaches rely on centralized entities. Assuming decentralized currencies are something worth striving for and are able to meaningfully replace large parts of the financial system and reduce spending on literal mining of precious metals, the environmental impact might be a net positive in the long run, given that both sectors require a lot of human and natural resources, which arguably could be better spent elsewhere.

Based on the article I happened to read, bitcoin is somehow contributing pollution to the environment like computers that are involved in bitcoin mining since this requires or consumes a lot of electricity to operate and also on the process of transporting bitcoin between each faction. The higher the electricity is being consume, the more fossil fuel it will be use to compensate the electrical power requirement thus resulting to tons of carbon emission to the environment.

[jvdp]

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?

Yes, it really a serious problem for Miners and for the country also, as the electricity which is been used for bitcoin mining by the mining network is really high and this electricity can be used for some other purposes also if the consumption decreases to some extent. The solution for this is that we need to replace this electricity with renewable energy something like either Solar energy or Mechanical energy or we can also develop our processing systems and units by which we can start consuming lesser energy. I have found an article that shows you that Bitcoin mining consumes more electricity a year than Ireland.  https://www.theguardian.com/technology/2017/nov/27/bitcoin-mining-consumes-electricity-ireland

Many of the peoples confusing the mining electricity. First you should think mining is the business so more electricity is consuming in mining rig. But profit also constant in the mining.
 It is most promising profitable platform in the crypto market. The main problem of Bitcoin pollution is Korea government ban some miners in our country. This is exact problem in the Bitcoin.

[louie69]

Bitcoin mining is most profitable in places where electricity is the cheapest. Electricity is cheapest were its supply outweights its demand. As electricity is hard to store, any supply that exceeds demand is simply lost. It follows that Bitcoin mining mostly uses leftover electricity that otherwise would have gone by unused.

So far PoW appears to be the cost of maintaining a decentralized digital currency, since PoS is a questionable alternative and most other approaches rely on centralized entities. Assuming decentralized currencies are something worth striving for and are able to meaningfully replace large parts of the financial system and reduce spending on literal mining of precious metals, the environmental impact might be a net positive in the long run, given that both sectors require a lot of human and natural resources, which arguably could be better spent elsewhere.

Based on the article I happened to read, bitcoin is somehow contributing pollution to the environment like computers that are involved in bitcoin mining since this requires or consumes a lot of electricity to operate and also on the process of transporting bitcoin between each faction. The higher the electricity is being consume, the more fossil fuel it will be use to compensate the electrical power requirement thus resulting to tons of carbon emission to the environment.

I definitely agree that bitcoin may probably has a possible effect of pollution in the future once there will be more people might get involved in the bitcoin mining business wherein more electrical power will be use to generate to the power requirement. More increase in power consumption, the more fuel will be use by power plants which will result more carbon emissions in the atmosphere which may affect the people and environment.