Cardan0 (OP)
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January 30, 2018, 07:27:04 PM |
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A lot has been said about mining and about the electricity consumption of the activities related to bitcoin mining. However, I have thought of the alternatives and how other systems produce not just energy waste, but also plenty of useless work and "human waste".
To have a network that can ensure the completeness of transactions, the global accessibility and all the features that bitcoins, and many alts, have at the moment, would probable produce a huge carbon footprint. Just think of the VISA system or the banking system... the amount of people working on it, the waste of commuting to works, the infrastructure.
Thinking of all that, would you still say Bitcoin is bad for the environment?
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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Jet Cash
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https://JetCash.com
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January 30, 2018, 07:36:30 PM |
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Put the mining farms into a warehouse surrounded by fertile land. Plant trees and other vegetation to provide a haven for wildlife. There you go - Bitcoin mining is good for the environment.  Even better if they convert the energy stored in all the discarded plastic bottles that are everywhere. They could use this to generate electricity. |
Offgrid campers allow you to enjoy life and preserve your health and wealth. Save old Cars - my project to save old cars from scrapage schemes, and to reduce the sale of new cars. My new Bitcoin transfer address is - bc1q9gtz8e40en6glgxwk4eujuau2fk5wxrprs6fys |
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Xavofat
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January 30, 2018, 08:15:26 PM Merited by richardsNY (1) |
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It's almost impossible that the existing banking system uses more electricity (per transaction) than Bitcoin does. Miners receive the block reward of 12.5 BTC (currently about $125,000) every ten minutes, and in addition to that it has transaction fees. Apart from the relatively small profit margin which they attempt to make, miners will use electricity (almost) proportionally to the value of the BTC they receive for mining a block. I'm not saying that the existing banking system is efficient, but even articles like this one that give an attempt to crunch numbers from a pro-Bitcoin perspective end up finding that Bitcoin is extremely inefficient if you think of it per transaction rather than as a whole. Proof of work is not necessarily a "waste" of electricity - it's important for security - but let's not pretend that the electricity isn't getting used. |
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jimbo2000
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January 30, 2018, 08:21:58 PM |
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A lot has been said about mining and about the electricity consumption of the activities related to bitcoin mining. However, I have thought of the alternatives and how other systems produce not just energy waste, but also plenty of useless work and "human waste".
To have a network that can ensure the completeness of transactions, the global accessibility and all the features that bitcoins, and many alts, have at the moment, would probable produce a huge carbon footprint. Just think of the VISA system or the banking system... the amount of people working on it, the waste of commuting to works, the infrastructure.
Thinking of all that, would you still say Bitcoin is bad for the environment?
The more simple solution is either to solve the finite resource issue and find a way to have renewable energy, or alternatively to move bitcoin away from a method which is so energy intensive, think ethereum's plans to move to POS. |
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Sasuke102001
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January 30, 2018, 08:30:20 PM |
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Maybe yes bitcoin actually good for the environment like if we stop using paper bills lot of trees can be saved there is one point about how bitcoin can be good for the environment. Also the current banking system consumes too much electricity, I don't think that bitcoin transactions would take up that much of electricity so bitcoin can also reduce the amount of electricity used by the banking sector.
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Eternu
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January 30, 2018, 08:38:35 PM |
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Bitcoin has nothing to do with environment. Power-plants are those who pollute the earth not bitcoin. So if we go to more earth friendly ways of making electric power, we will have problem solved. Bitcoin farms do not need too much space, also that space around it could be used for producing electric power for that mining farm. Place some solar panels or some wind turbines and there you go. Everyone happy. Only people that want to see bitcoin fail will say that bitcoin is bad for power industry...
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droptableguy2
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January 30, 2018, 08:52:05 PM |
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Exploiting bitcoin in particular and cryptocurrency generally requires a considerable amount of power so it also affects some of the environment. At present, miners are increasingly adopting alternative sources of power for mining to limit the environmental impact of bitcoins. This will help the mining industry to develop in the long run and not be subjected to pressure from local authorities and the public.
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Kaan53
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January 30, 2018, 09:02:24 PM |
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It may also be because there is no paper Money .
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BCTBF
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January 30, 2018, 09:07:16 PM |
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Yes I think mining is bad enough for the supply of electricity available on earth, I do not really understand about the science. But I think there should be restrictions on mining and electricity usage every day. Maybe the government can find the best solution about it.
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darkfox12
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January 30, 2018, 09:35:16 PM |
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Right now it's not as good as it could be because half the miners are situated in China, which uses a lot of coal to produce energy. Now, there are alternatives that can be implemented to help reduce Bitcoins carbon footprint.
-Hydro electricity
-Wind farms
-Solar energy
-Burning waste to generate electricity
These aren't necessarily new ideas but they are possible ways to help offload some of the energy that's used with cleaner alternatives. But, that's probably not as viable at the moment. Maybe with partnerships, or government incentives we can help drive faster clean energy adoption.
The other solution is of course: A new cryptocurrency
There are less energy intensive platforms that could take over as the de facto coin that would provide far less energy requirements than bitcoin.
“People who think cryptocurrencies are extremely important for society tend to have less of a problem with the energy usage,” says Marcovici, at Hydrominer, in Austria. “People who are not so much fans of them are the ones who are driving the discussion about energy. It’s a philosophical question.”
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braZZers123
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January 30, 2018, 09:42:11 PM Merited by coinbitrade (2) |
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A lot has been said about mining and about the electricity consumption of the activities related to bitcoin mining. However, I have thought of the alternatives and how other systems produce not just energy waste, but also plenty of useless work and "human waste".
To have a network that can ensure the completeness of transactions, the global accessibility and all the features that bitcoins, and many alts, have at the moment, would probable produce a huge carbon footprint. Just think of the VISA system or the banking system... the amount of people working on it, the waste of commuting to works, the infrastructure.
Thinking of all that, would you still say Bitcoin is bad for the environment?
No, I do not think so. The fact that the bitcoin network requires a lot of energy resources, certainly gives a load on the production of electricity, but at the same time encourages the society to switch to alternative sources of electricity that do not harm the environment. |
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cryptorampage
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January 30, 2018, 09:48:27 PM |
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To make Bitcoin mining environment friendly we have to focus on renewable energy. We have to generate power from solar ,air and hydro. That's all.
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Carmen01
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Streamity Decentralized cryptocurrency exchange
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January 30, 2018, 10:08:45 PM
Last edit: January 31, 2018, 02:35:41 PM by Carmen01 |
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Yes it's open a lot of job's so if you earn it's good to the economy of the country because you have money that can go in your country,i think we already see a lot of transaction here in different wallet so means there's a lot of jobs because people make a transaction.I think the conveniece in crypto are so much many and good not like the not good of it,we can think like that.
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BtcBenOKC
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January 30, 2018, 11:33:46 PM |
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The financial system was threatened 100 years ago by free clean wireless energy and they pulled all funding from Nikola Tesla and destroyed Wardenclyffe tower and everything associated with it. 100 years later the financial system is once again being seriously threatened by something else cryptocurrency and its using a energy problem its responsible for as its primary weapon against this threat. If bitcoin succeeds and frees people to truly be able to innovate without limitations it is highly likely that what we currently perceive to be a waste of energy will be a joke and the world could be a very different place.
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KingScorpio
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January 30, 2018, 11:41:00 PM |
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A lot has been said about mining and about the electricity consumption of the activities related to bitcoin mining. However, I have thought of the alternatives and how other systems produce not just energy waste, but also plenty of useless work and "human waste".
To have a network that can ensure the completeness of transactions, the global accessibility and all the features that bitcoins, and many alts, have at the moment, would probable produce a huge carbon footprint. Just think of the VISA system or the banking system... the amount of people working on it, the waste of commuting to works, the infrastructure.
Thinking of all that, would you still say Bitcoin is bad for the environment?
well bitcoin will be opposed for various reasons, defending it will be the problem of those that are invested with it. cryptographic encription will become more mainstream, anyway, miners will have distributed stages by then. depending with what you mean for the environment the answer is: wildlife always losses area/space due to bitcoin, but it will adapt anyway, changes will happen anyway. there will be in some areas communist outrages, all depending on how the people are living with, |
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ganlianshifu1
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January 30, 2018, 11:47:18 PM |
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You can use some solar energy, wind power, water power generation, instead of traditional coal to power supply!
The carbon dioxide produced during mining can be effectively controlled and converted into something useful!
BTC has reduced the issue of paper money to some extent, and the number of trees being cut down is decreasing!
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jojowar
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January 30, 2018, 11:56:27 PM |
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Bitcoin can actually be good for the environment because it is a paperless transaction. It can be good also if the place of the mining uses renewable energy like putting up solar panel for energy consumption. j
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stronghands4lyfe
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The revolutionary trading ecosystem
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January 30, 2018, 11:57:27 PM |
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Not only is Bitcoin a common good it is the best good to hit the human race since the invention of the car. It doesn't feel like we are living a time changing era but that is what is happening before our eyes, we are changing the way the world lives and it is awesome  . |
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Casmania
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January 31, 2018, 03:13:35 AM |
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Bitcoin is good for the environment. The things that affects the environment is not the bitcoin itself but the tecnology that we used to generate bitcoin. Like mining and other power source that produced radiation.
I would suggest that government in any country must have to adopt the renewable source of energy that is applicable to them such that people from that place may use this source of energy when doing the bitcoin mining operations which requires more electrical power consumption. With this, I would say bitcoin may continue to be good for the environment with no harmful effects to mankind and business transactions will continue to flourish. |
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