Can actually Bitcoin be good for the environment?

[markint]

Of course there are several alternatives that can help reduce the carbon footprint generated by bitcoin, although compared to the pollution produced by industries of similar value, bitcoin seems to be little harmful to the environment. It is true that perhaps the environmental factor was not taken into account when designing the creation of bitcoin, but it is also undeniable that bitcoin is in the process of decay and new altcoins less energy consumers will take its place.

[dimbaba]

It is true that perhaps the environmental factor was not taken into account when designing the creation of bitcoin.In my own opinion it can be good also in the future if all people will use digital currency like bitcoin.

[cryptonewsID]

I think maybe it can, because bitcoin is money online and can be an asset to invest. And there is no paper model that makes the environment not good.

bitcoin is very good for the environment, and there is no pollution, but for noise in mining it must also be completely closed so there is no noise pollution.

[Froy]

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?

I think, of course, it can be useful for the environment, because it is financially, it can manifest itself as a good kind of initiative, and something like that, the coin is getting closer to the management.

[shesheboy]

I think maybe it can, because bitcoin is money online and can be an asset to invest. And there is no paper model that makes the environment not good.

bitcoin is very good for the environment, and there is no pollution, but for noise in mining it must also be completely closed so there is no noise pollution.

not only noise pollution but also mining wastes alot of electricity or energy  , so imo bitcoin is not good for the environment .  bitcoin might be only good for the economy of the country because it is helpful for making our live more easier in terms of payment purposes , however altcoins are the ones that is being used for payments due to thier low fees and faster processing . altcoins are mostly suitable for investing or trading because they are more cheaper and can be boughtable as when compared to bitcoins  , so altcoins must also take the credit .

[iqlimasyadiqa]

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, in the beginning bitcoin had to be produced from various processes that needed energy and that could make bitcoin have a price value. the result is that now bitcoin has a price that was not predicted 9 years ago. bitcoin is at a very good performance and when compared to paper money bitcoin has things that are much more environmentally friendly. we talk about the future and it's proven that bitcoin has the capability as a digital financial system that is trusted by many people.

[FlightyPouch]

I don't know why many people say bitcoin is not good currency.  I think bitcoin now digital currency. It's popularity increase day by day.  Bitcoin now good for environment

I don't think that is the word or term to be used there. Environment are everything around us might be living or a non living thing, I guess the word really here is not environment but the economy of a country. Currency is not really helpful in our environment since it is just a piece of metal and paper given a value by the government. It is helpful as an investment but not in the environment.

[tuturutmunding]

can it or not or not. it all depends on the user maybe if it is used as a transaction and investment tool that can help people in doing business of course it will have a good impact on the economy while with a stable economy it will also have a good impact on the environment. and vice versa if bitcoin is used in negative matters such as funding terrorism and money laundering, it will have a negative impact on the environment

[BALIK]

Bitcoin is probably never going to be GOOD for the environment, but it can be better than the VISA system which is currently the gold standard. We need to see a switch from POW to POS to see less of the energy burden though, as right now using 1% of the worlds energy supply (dubious I know) is certainly not contributing towards a stable environment.

[sarungmen]

if this comparison is the same in my opinion, even though I agree more that saying bitcoin is more profitable and more energy efficient, because in my opinion bitcoin does not need to take place, infrastructure, facilities and accommodation for employees who all come from nature and are very detrimental in long-term

[player1001101001]

Bitcoin mining completely depends on electricity. And we can produce the electricity with the use of natural resources. So it's completely fine. Bitcoin mining doesn't affect the environment.

[Najam11]

Yes why not I see bitcoin changed to solar powered so the future is quit bright side let's it happen

[missyqt29]

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?

For me yes, because I think if the bitcoin use by the people in their country their economy rises up. I think if all the government are support the bitcoin all of the economy of all country are rises up and no one experience poverty.

[bsce1-1]

Actually yes, it can help through environment by for the people who does not have a job so that bitcoin can provide such a work for their to earn digital money or real money, they may be help through transaction country to country with no payment and also they does not need some effort to go in a branch (that have money transaction) in short effortless transaction. And lastly, it extremely help to the environment and also in government by they can impose a tax on such a task, for how much we have the budget for a country to grow or develop.

[BitcoinPanther]

Bitcoin is probably never going to be GOOD for the environment, but it can be better than the VISA system which is currently the gold standard. We need to see a switch from POW to POS to see less of the energy burden though, as right now using 1% of the worlds energy supply (dubious I know) is certainly not contributing towards a stable environment.

There's really a lot of sense there BALIK.

Since miners compete with each other to confirm a transaction with POW (or Proof-of-Work), the process is so intensive and requires a lot of computing and of course, consumes a whole lot more of power.

But should transaction confirmations be on a POS basis (or Proof-of-Stake), the intensive demand of computing is lessen since confirmation is to be distributed among miners in the blockchain. This lessens the competition and in turn lessens power consumption too.

Perhaps this is already under consideration within the system of bitcoin and hopefully the change in consensus proceedings will contribute a lot for bitcoin to be more eco-friendly.

[kuto]

bitcoin for the environment actually doesn't have a bad impact it will make it better and can share experiences and knowledge .

I don't know what are you trying to ask buddy, but if I understand you correctly you are asking if bitcoin is good for the environment or not. My answer would be not. Bitcoin has nothing to do with the environment but there are projects that involves in conserving the environment and its in the crypto market. Bitcoin in the other hand help each individuals to earn more and extra fro their family crypto currency market.

[erikoy]

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?

Yeah of course it could lessen the damage of fiat money if bitcoin will be taken as an alternative form of payment and in that way the resources and the raw materials that fiat money will be made will be conserve due to minimal damage on it as bitcoin will take as an alternative form of payment. And i think there are many advantages here with bitcoin yet there are also disadvantage of using it. Either way all in all i believe that bitcoin will do good on environment.

[bajigur894784]

Well, many say that Bitcoin is bad for the environment, and what's worse, some say that, if Bitcoin's energy use continues to grow at the same rate, Bitcoin will use all of the world energy.

I think they are too paranoid. because Bitcoin can be good for the environment, why is that? The answer is simple because Bitcoin mining has driven the growth and development of renewable energy.

Mining is about maximizing the amount of hash per kW of electricity. At present, the most efficient way to produce the highest hash / kW is through the use of solar energy and hydro-electricity, because it is the cheapest way to generate electricity.

If Bitcoin continues to grow, the demand for solar energy will increase as people rush to find cheaper ways to generate power. In addition, renewable energy sources sometimes produce surplus electricity. Burning part of the excess electricity to mine Bitcoin will offset the cost of running a renewable energy source, making it even more efficient.

I believe in this theory because Bitcoin Miners will make the most energy-efficient mining for large profits.

[treatWy]

Environment is good to bitcoin but bitcoin is good not to just to environment but also into the people lives. Nowadays, it is not yet well know all over the globe for some doesn't like this new trend of cryptosystem. However, in due time everything will be alright due to its demands and wants.

[erikoy]

I think there are things that bitcoin needed to address like the power usage of the GPU's that is use to mined bitcoin during trading and transactions. Though we know that bitcoins has a lot of benefits especially on those ICO projects that are now working and being realize that benefited the community the problem with mining will be hopefully address. I suggest to find another means to mine bitcoin or confirming transactions without using those power consuming GPU's.