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Author Topic: Bitcoin and pollution  (Read 218 times)
jinksters09
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January 13, 2018, 02:29:35 AM
 #21

This has really not come to my mind that cryptocurrency and in its tokens are causing pollution but one article I saw when I was browsing the net and searching for newsfeed regarding bitcoin is this, jeez I don't how? But I guess anything is solely possible in this world anything so we might as well prepare for the worst.

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January 13, 2018, 10:37:33 AM
 #22

It's a good point - I'm just starting mining, and only use a renewable electricity supply (including my own solar panels).

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Gladz29
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January 13, 2018, 10:47:53 AM
 #23

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.
Bitcoin and pollution their is no connect. But if their a chance to minimized pollution in this world using bitcoin why not. If the government implement the rules to minimized pollution stop using vehicle that can cause pollution. Also if the government will allow to used bitcoin.
partysumo
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January 13, 2018, 10:52:07 AM
 #24

Well, if we think about established financial institutions like banks, and how many offices they have around the world, hosting a huge number of employees, they definitely create more pollution than bitcoin. Of course, the energy requirements of bitcoin have to be addressed, but it's not like banks are not creating environmental problems as well.

Sir Cross
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January 13, 2018, 11:44:45 AM
 #25

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.

Never looked at it that way. I'm not that familiar with mining and I never thought of it as detrimental to the environment. But if that's the case, then bitcoin mining is indirectly contributing to pollution.

Renewable energy has been a problem not only for mining, since a majority of the planet still rely on fossil fuels - which would ultimately deplete eventually. This problem should be addressed so as not to harm the environment even further. Mining is essential however taking care of the earth's environment is important as well.

richardivan
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January 13, 2018, 12:00:26 PM
 #26


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
I think the use electricity for Bitcoin mining not a big deal for environment since electric can obtain from renewable resource like water, heat, wind. For country can be focused to bigger problem like waste paper / plastic / vehicle polution that can demage badly for environment


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amatias
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January 13, 2018, 12:02:13 PM
 #27

Bitcoin and pollution.
Bitcoin encourages the use of digital currencies as an alternate mode of payment. As a result, money, in form of coins and bills, are minimized. As we know, bills and coins comes from paper and metals, respectively. Paper from trees. Metals from mining. If bitcoin is widely used, less trees are cut and  less mining! Pollution is lessen!
STOP POLLUTION! MORE BITCOIN!
arcfaith
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January 14, 2018, 05:16:59 AM
 #28

Bitcoin and pollution.
Bitcoin encourages the use of digital currencies as an alternate mode of payment. As a result, money, in form of coins and bills, are minimized. As we know, bills and coins comes from paper and metals, respectively. Paper from trees. Metals from mining. If bitcoin is widely used, less trees are cut and  less mining! Pollution is lessen!
STOP POLLUTION! MORE BITCOIN!

Actually since bitcoin is out, the electricity spent has rising over the roof, especially in 3rd world or developing countries where electricity costs are much lower.


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
I think the use electricity for Bitcoin mining not a big deal for environment since electric can obtain from renewable resource like water, heat, wind. For country can be focused to bigger problem like waste paper / plastic / vehicle polution that can demage badly for environment

Yes electricity can be obtained from energy but what about the costs then? If you are living in a first world country how much would you be spending by paying electricity compared to a third world country? Short term wise, this problem is not a small matter. Every miner wants to keep their costs low and get their profits higher. And this, I believe is what most countries are also concerned of.

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January 14, 2018, 05:20:51 AM
 #29

What do you think about the facts about bitcoin and pollution? can this disadvantage repel future investors? are there any solutions for this problem?
Bitcoin mining needs huge amount of electricity and it will produce heat energy which can pollute the environment but it can be solved by bitcoin mining using renewable sources like solar and wind power but these kind of mining need huge one time investments.

francoise
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January 14, 2018, 05:27:31 AM
 #30

This seems a ridiculous question: does fiat not cause polution? does gold not cause pollution? lmao
digdig
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January 14, 2018, 05:43:55 AM
 #31

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

I do not understand why you use the word pollution here. I think it must be replaced with word spread and influence. By BTC is not harmful, if we play properly stop right. I think so.
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