Will bitcoin destroy the world?

[airdnasxela]

Is this really a question?  Absolutely not!  If you are talking about the energy consumed by the mining industry,  I think it wouldn't. Bitcoin mining consumes an amount that is not even felt by those energy producing companies like those who produces oil barrel because it is just a percent of those who uses energy worldwide.  And if you are talking about greed,  bitcoin is not the problem and not the root of all problems,  it is the person who have this feeling or those greedy persons.

[Owl_Fintech]

Governments are the ones who threaten destroy the world with their mass destruction weapons. And those toys are financed with fiat money, not Bitcoin.

[Craigne]

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?

Where is the source of this information?  Where do these numbers come out?  I mean,  is this even reliable? But for the question if bitcoin will destroy the world,  absolutely not! If you are talking about the electricity consumption,  I think those who are in bitcoin min in ng,  they are just a little amount compare to the worldwide consumption.  It is not felt by electricity producers. So not.

[wave1002012]

I think I’ll stick with my hypothesis that bitcoin, and its correlative phenomenon, blockchain, are really an advanced Bond villain plot to crash the world’s markets somehow.

No it's not true, bitcoin cannot be the reason to destroy the world in fact it helps many people to have a better life.

[hualangktsld841]

Bitcoin does not destroy the world. Encryption may help the world in the future. We all know that most of the energy in the world can't be regenerated. People have been criticised for exploiting bitcoin to consume too much power, but what we need to note is that most of the bitcoin is consumed in remote areas, and in the next few decades it is believed that more alternative energy is used by the Association and the sun. Both energy and wind are a good choice.

[Paka1]

Each bitcoin transaction costs 215 kilowatt-hours of energy??

Honestly, I have no idea where these numbers came from,
I would say 2 watt per transaction (not kw).
But if you are so environmentally sensitive person,
why don't you take a closer look,
of how much electricity is being consumed by the banks on a global scale.
There are 90.000 branches with average branch size of 5,000 square feet. This is just the U.S.
A branch is made of concrete and steel and consumes not only Electricity, but Gas and other materials as well.

Bitcoin is the most energy efficient transaction system ever.

I totally agree,  banks are operating for 8-10 hours per day that means they are consuming more electricity plus the waste coming from those papers and such. Moreover,  there are more than enough banks in the world that is using electricity and other office equipment. So technically,  bitcoin is using lesser amount of electricity compared to other modes of payment plus it doesn't need alot of papers when making transactions. With that we cannot conclude that bitcoin could destroy the world.

[Reid]

It is the people who is the virus of the world and you cannot stop that. You need to kill them all if you want a better environment.
Bitcoin mining or vehicles it will still be the same.
You do not need to compare it with other shit that use oil.
Good thing bitcoin have a limit of supply so no worries, somehow it will end.

[Joyeeta]

Why would bitcoin destroy the world? They are helping people to control their own currency without paying bank a hefty fees. So in that case bitcoin actually helping the world and will continue to do so.

[Lebovsky]

To be honest, I never thought about it. Of course these are impressive figures. But if you look deeper into it, one thing becomes clear. How much electricity is consumed by banks and their branches or terminals?  I think this figure will be no less than for bitcoin transactions. Moreover, alternative energy sources are becoming more popular in the world. Therefore, all these figures are relative.

[baho11]

My answer is no .Bitcoin has a big contribution to the world which supported to the people in poverty instead of the government .How lucky we are that bitcoin is being created because we benifited the most .Bitcoin improves the life of people and gives them wealth .

[bellakrstna]

bitcoin wont destroy the world, it is the opposite. bitcoin is building a better world for us.
because bitcoin, many altcoins has created for development of cryotocurrency world.

[wall101]

if i ask the bitcoin will change the world because my future estimate is nothing to suffer because everyone in the future is using bitcoin.

[cryptohacker29@]

World is on the verge of of being destroyed. Bitcoin will fuel it to make it living again.
We are so accused by the government with several taxes and many other things. But bitcoin, due to it's decentralization, we are free to explore where we want and when we want.
So Bitcoin will help us to take desired action to grow up our life.

[Cairo18]

World is on the verge of of being destroyed. Bitcoin will fuel it to make it living again.
We are so accused by the government with several taxes and many other things. But bitcoin, due to it's decentralization, we are free to explore where we want and when we want.
So Bitcoin will help us to take desired action to grow up our life.

For me it cannot destroy the world, it gives better in our economy especially to those people who need extra income, even though time and long transactions will undergo it can also give us new beginning in our life way to success.

[Df9898]

certainly not because of the bitcoin it just as a means of payment and will not destroy the world and instead would help the world economy.

[tikaka]

People can not blame completely for bitcoin. This is because human greed has destroyed our environment. There are many different ways that we can replace oil to generate energy to exploit bitcoin. These are clean energy sources that do not pollute the environment like wind energy, solar energy ...

[dvillier]

World is very nearly of being obliterated. Bitcoin will fuel it to make it living once more.
We are so blamed by the legislature with a few assessments and numerous different things. Be that as it may, bitcoin, because of it's decentralization, we are allowed to investigate where we need and when we need.
So Bitcoin will help us to make wanted move to grow up our life.

[pengejarcoin]

Bitcoin will not destroy the world, because I think bitcoin is helping the economy for the country in need, bitcoin does not make the country bankrupt, bitcoin even help us from the difficulty of our financial situation at this time.

[Ilegendph]

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?

From your statement, bitcoin is not the main reason that will destroy the world but instead, its the energy in mining bitcoin. Not all energy resources are coming from oil, and in china, most of the mining their uses solar panel to maximize their profit which is more environmentally friendly than oil.

[Nerman]

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?

First I do not know if the numbers you provided is accurate, if you can share the link or the resource it would be a nice read. For the I do not think so because every year the world are switching to other sources of producing electricity. Even United states of America, United Kingdom, China and Germany are  the leading countries  that produce renewable energy.You can expect that in the future using oil to produce electricity will be non existent. You do not need to worry about Bitcoin destroying the world because it will not happen.