Will bitcoin destroy the world?

[zwiggel]

I think this is not true. bitcoin does not destroy the world. bitcoin is helping the world economy grow. bitcoin creates jobs for many people. Bitcoin helps people get out of poverty. Many people become wealthy when investing in bitcoins.

[Cryptohad]

you also must to calculate the amount of all companies doing mining in the world, I think only 30%, and it will not spend a country's electricity supply. therefore, if mining is little, then bitcoin price will be more expensive.
in addition, using hydro mining is one way to save electricity state. and I do not think mining will destroy the world.

[killerfrost]

I think bitcoin does not destroy the world. bitcoin is giving the world a go. Bitcoin creates jobs for millions of people. Many have escaped poverty when investing in bitcoins.

[anussayme]

We all know that Bitcoin is currently a strong currency in many markets as well as a virtual currency that is on the top of the world rankings. There are many who believe Bitcoin cannot be. Canceled as well as canceled, but actually, the virtual currency contains a lot of risks.

[Olga1111]

I don't think bitcoin can destroy the world, it's the opposite view of bitcoin. But if we say that bitcoin has improved economic growth worldwide, I do agree with that.

[nowlscor18]

Mankind can product the energy not only from oil. There are wind energy, sun energy. Soon people will switch to this types of energy product.

Yeah I would agree with you.It's about mankind but not the crypto currency or the bitcoin.This is favored to us becuse humanity is the one who controlled the world.

[ellabanana]

This is quite alarming, considering that these are non- renewable resources and very expensive in the world market nowadays. However, mining can also be doing well in countries abundant with this resources.

[lincolnmad]

Hell no, no way bitcoin is destroy the world lol. What I think is bitcoin, cryptocurrency, blockchain technology and smart contract are help the world become better. Let's see what will happen in the next 5 year into bitcoin and cryptocurrency.

[aleksej.rozhkov]

If the boon of getting bitcoin leaves 20 oil barrels, but do not forget how many resources are being extracted all over the world! and I can add that only 4 million bitcoins are left to be extracted, and other resources will be extracted even more than 70 years

[abderrazak belkhir]

Ther is a lots of meaningless things that can realy destroy the world...look just at the billions of dollars spent on football as hundreds of Africans die of hunger every day...you don't think that foitballe can destroy the world economy...why everyone talk about bitcoin and forget The real things that harm the world

[Kambal2000]

If the boon of getting bitcoin leaves 20 oil barrels, but do not forget how many resources are being extracted all over the world! and I can add that only 4 million bitcoins are left to be extracted, and other resources will be extracted even more than 70 years

Actually it is not destroying the world, it is actually saving the world from poverty as it provides great opportunity for all the people and I know that this opportunity is for everyone, unlike when we are doing a job where in you are not allowed to enter it without a single knowledge  but here we are free to do it.

[Elmer1]

Mankind can product the energy not only from oil. There are wind energy, sun energy. Soon people will switch to this types of energy product.

Theres a lot of technolgy . The people in the world is so smart . Do not relly on oil .  Do not lose water . Because water is very impprtant

[livingancient]

What ever people think, I still don't believe that bitcoin will destroy the world. All things don't have power of destruction, it always start from a person.

[zero9119]

If the boon of getting bitcoin leaves 20 oil barrels, but do not forget how many resources are being extracted all over the world! and I can add that only 4 million bitcoins are left to be extracted, and other resources will be extracted even more than 70 years

Bitcoin is increasingly showing its importance in payment and e-commerce, so there are now a lot of corporations and a lot of services that accept bitcoin payments. Bitcoin also generates a lot of income for investors, with very few bitcoins in existence, I believe the bitcoin value will grow tremendously in the next few years as the remaining bitcoin is fully exploited.

[tylerderden]

If the boon of getting bitcoin leaves 20 oil barrels, but do not forget how many resources are being extracted all over the world! and I can add that only 4 million bitcoins are left to be extracted, and other resources will be extracted even more than 70 years

Bitcoin is increasingly showing its importance in payment and e-commerce, so there are now a lot of corporations and a lot of services that accept bitcoin payments. Bitcoin also generates a lot of income for investors, with very few bitcoins in existence, I believe the bitcoin value will grow tremendously in the next few years as the remaining bitcoin is fully exploited.

Bitcoin is a money making machine.It is capturing the market.It is now used in many places.People use their bitcoin money for the payment of their bills.People hold their bitcoin for future price rise that is a characteristic feature of an asset.Some nations are now accepting bitcoin by seeing its advantages.A lot of profit is also generated from bitcoin for its investors.In today's date bitcoin is the best option for investment.Billionaires also invest in bitcoin too.

[handyhuman]

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.

Actually for me bitcoin wont give us reason to destroy the world . Instead, it can help the world to become more richer . It is also one of the best way of investment.

[mxyzptlkof6th]

I dont think so, because bitcoin is the worlds strongest cryptocurrency

[Houseman]

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.

[yvonnegalvan]

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?

Actually bitcoin won't give us a reason to destroy the world, we are just using bitcoin for our life to have a better future fo our family, we are just using bitcoin to have a good business, we are using bitcoin to have an extra income for our daily needs. So that bitcoin won't destroy the world, is was so hard to know that bitcoin will destroy thr world.

[jhache]

Firstly, I'm getting a feeling that your numbers are way off and that you are just bumping the numbers to make bitcoin look bad. Secondly, many people who mine use the heat generated from the miners as a heater during the winter season and thus it is used for dual use cases, also many people are using solar energy to mine.