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freshm4ker
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May 01, 2018, 09:09:19 PM |
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If you compare the energy consumption of the financial system with household energy consumption compared to unreliable comparisons. Compare the energy consumption of cars with horses. Where can we say horses if more environmentally friendly. Energy is needed for human life.  |
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Silberman
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May 01, 2018, 09:28:22 PM |
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Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
Until sometime ago most of the electricity consumed by bitcoin came from hydro electrical plants I don't know how this has changed but if this still remains true for bitcoin then the consumption is not as big as you make it out to be, besides the bitcoin network has the potential to become a world currency and something that is so big needs to consume a lot of energy, but as time passes new miners that are more effective should appear. |
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Gabb
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May 01, 2018, 09:35:59 PM |
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In reality, the production of energy should not be a reason that leads the world to its destruction, as it is well known that energy abounds in the universe, but human beings have been especially inefficient when it comes to taking advantage of multiple sources of renewable energy that we have at our disposal, and we have become excessively dependent on the most harmful energies.
If something characterizes the crypto universe is its ability to innovate and adapt to the continuous challenges that continually emerge everywhere, so I have no doubt that very soon we will have real, practical and sustainable solutions for this problem that has been so present in the mind of many.
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MakeMoneyBtc
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May 01, 2018, 09:38:42 PM |
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Chill out, bitcoin will not destroy any world because there is enough electricity in the world and people are producing it everyday. Your numbers can be correct but still that doesn't affect us in any way because I am sure they are not so bad as they seem because Visa card network doesn't work alone. There are tons of people and machines that have to take care and update it every hours in order to dont be hacked. Visa cards are created by banks which also require a lot of energy to works.
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melekseverce
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May 01, 2018, 09:39:58 PM |
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we live in a rapidly changing world and must learn to adapt if we are to succeed,i think bitcoin will change the world, not destroying it.
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KuyaBreezy
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ONe Social Network.
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May 01, 2018, 09:46:04 PM
Last edit: May 03, 2018, 07:30:27 AM by KuyaBreezy |
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As much as Mining BTC requires lots of energy out put, I don't think It will destroy the world, there are lots of other environmentally unfriendly activities in the world that are far much worse than BTC mining.The Bitcoin Activities doesn't have direct effect on Humanity as much as things like industrial Pollution does, its just a revolutionary technology that is meant to improve financial transactions and offer better services. Human activities such as war are more likely to destroy the world, more than BTC
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bling-bling
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May 01, 2018, 10:21:28 PM |
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yes, bitcoin is the only cause of global warming and without it we will have spring all year long. bitcoin is also evil and eats babies.
it is not at all like bitcoin is providing anything useful. and nobody has ever used bitcoin for anything meaningful like as a currency or anything like that. it is just there to waste energy.
Hahaha! I loved the sarcasm...or are you being serious? Anyways, I just don't see how will Bitcoin destroy (which is quite extreme!) the world, environmentally that is. It is quite energy sufficient compared to the other industries. Just take NASA for example, how many tons of fuel do they use for a single lift off? Quite a lot!!! And they run their station/s 24/7 using up quite an amount of electricity all year round. Now I don't hear anyone complaining about that. Bitcoin is small time in terms of energy usage compared to those industries that have been operating for generations. So I don't see this as an issue. |
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onnz423
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May 01, 2018, 10:27:51 PM |
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There's a difference between bitcoin and mining, I understand that to some degree they are synonymous, but they do not need to go hand in hand. The lightning network will to a large degree cede most of the environmental cost of bitcoin mining, as the bulk of the transaction will be handled off-chain. Also, bitcoin has the potential to remake the world borders, bringing the world together so that the energy concerns are less problematic than they would be now.
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coinmarketdaddy
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May 01, 2018, 10:29:31 PM |
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Bitcoin will continue to penetrate into people's life , still there are many people who even do not know the word bitcoin. Once there it popular among vide range of people, it will definitely be the currency of next generation.
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MiukoOk
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May 01, 2018, 10:36:21 PM |
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Why do you say that, BTC is now widely available in the market. It is not easy for BTC to destroy the whole world, BTC has created a lot of profits for the smart investors, helping them quickly get rich thanks to them.
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tvtoan1994
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May 02, 2018, 03:21:52 AM |
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Blcokchain is open to public for check and verify thus each transaction is clear and traceable.So i believe with the existance of blockchain, it will hard to destroy bitcoin.
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ondabeat
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May 02, 2018, 01:40:11 PM |
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if it is said to be bitcoin economic growth around the world, I strongly agree with that, but the negative issue of bitcoin business is not a new bitcoin business, probably because of the popularity and fast increase of people accessing bitcoin.
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Name: Claudio
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May 02, 2018, 01:44:32 PM |
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You have wild imagination their, If Bitcoin is also used for a cause then it has the greatest impact on the charity history, make point?
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Ashong Salonga
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May 02, 2018, 01:53:40 PM |
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Of course not. Bitcoin is not even that popular to cause that much energy consumption. Besides, there is a natural tlimit to how much energy we can produce, and if bitcoin takes too much of it, then the number of transactions will go down, because such a process could not be sustained.
That idea is impossible, infact bitcoin right now is helping people to have their partime job to earn extra income. So the idea of bitcoin destroying the world is so unrealistic so please stop believing that thing about bitcoin. I know bitcoin will make a world a better player instead. |
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Sexie
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May 02, 2018, 02:03:47 PM |
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Bitcoin mining is based on very high energy costs and environmental costs.
One bitcoin =20 barrels of oil.
How many barrels of oil do you think the industry consumes every year?
10 barrels? 50 barrel?
Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.
Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).
In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.
One bitcoin transaction = one American family USES electricity a week.
According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.
Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.
The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.
What do you think about the energy consumption of bitcoin?
[/quo
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Sexie
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May 02, 2018, 02:22:45 PM |
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Maybe I don't understand the question, but I think, there are a lot of spheres that consume more power than mining rigs and destroy ecology of our earth. It is no doubt that Bitcoin can influence on the economy of every country, but it has no power to destroy the world (especially if to speak about influence of mining rigs on ecology). People all over the world use more electricity to light roads at night than for the work of miners!
[/quo
I agree with you. Using electricity , bitcoin oould not be able to destroy the world. It depends maybe on how big the gadget they’ve been using and if it is being installed by the element that will
destroy the world. According to an article that it is safer to do mining bitcoin through internet than mining metal gold that really destroy the environment just like making a tunnel underground and cleasing those granules of gold into the river that causes contaminating the body of water. |
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emili1020
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May 02, 2018, 02:24:20 PM |
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I have to admit that I don’t perceive bitcoin. Go ahead: browse the Wikipedia entry for the way bitcoins square measure “mined” and see if you'll are aware of it. the worth of it's soaring once more on the market nowadays, to over $15,000 currently $18,000 currently $19,000 (this movement happening as I write this item!) in what feels like a classic bubble. i feel I’ll continue my hypothesis that bitcoin, and its correlative development, blockchain, square measure very a complicated Bond villain plot to crash the world’s markets somehow, style of an imaginative remake of Goldfinger.
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luis fantom15
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May 02, 2018, 02:30:08 PM |
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Governments are the ones who threaten destroy the world with their mass destruction weapons. And those toys are financed with fiat money, not Bitcoin.
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jchav010101
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May 02, 2018, 02:34:54 PM |
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If we take into consideration mining, i think it deoends on the source of your energy which could be oil, or geothermal, or other sources. As far as i know, most ofthe mi ing facilities are in areas whose enegy source is oil while there are some huge mining facilities that are actually based in areas whetein their sources of energy is geothermal and this is what mostly prefers because electricity fees are cheaper compared to oil. Personally, i don’t think bitcoin is destroying the world because it is not bitcoin that is using energy but we, the people and it is up to us on which source of energy will we be using.
It is true. |
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DoublerHunter
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May 02, 2018, 02:36:28 PM |
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Bitcoin will not destroy the world and in fact, it will help the world to become better because of the blockchain that the people can use in order to create more good things in our world like make things easier like Artificial intelligence that is powered by blockchain so it will be more secured and safer compare to the other type of AI.
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