Will bitcoin destroy the world?

[Bdstar]

I don't think so, You see that the conventional banking system is going to get involved a lot of internal negative issues about the bankruptcy and loan defaulter. So people are getting less dependent on this system day by day. So this blockchain system would be an alternative platform for this monetary issue.
In the future, Blockchain system will be the most popular for saving and investment. So it will be a more friendly platform rather than this conventional system.

[DoublerHunter]

of course not, bitcoin will not destroy the world, bitcoin technology is created because it wants to make a solution to alleviate the financial condition in the world but if you talk technology all the technology like a double-edged sword which means it could just destroy the user so there is no harm in being cautious.

Yup the technology is for a solution and not a destruction so instead of thinking about destroying the world, why just stick to the positive part and always be optimistic because being positive will bring more positive vibes that will make things better with bitcoin we can make more inventions that will help the world change for the better.

[Isaacck]

Mankind will become aggresive, and if that is happened. More people will do anything without hesitation to gain more bitcoins as happening to our world now

[tsinelas]

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?

I think bitcoin won't destroy the world but it will change the economic flow. bitcoin helps individuals which do not need too much energy to earn. it make living more comfortable especially in times we earn it.

[fosco333]

bitcoin won't destroy the world just because many peoples mining bitcoin. beside peoples mining other altcoins too.
what is worse, mining bitcoin or mining mineral or metal ? the wasting product of mining metal are more dangerous.

[glycine88]

Let's see how BITCOIN will go on.

I guess it will increasingly high TO THE MOON!!

[Victorycoin]

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.

That is something OP failed to realized - this is the 21st century and oil no longer is an indispensable source for energy. I wish he had shared some links of where those figures he had used came from, because they're too bogus to be taken serious by any sound mind, except of course, haters of Bitcoin.

That line on power consumption being more than total energy consumption in Nigeria, a country of about 186 million people is laughable, because major of that population do not have access to electricity and even those that do, have epileptic supply the year round.

[icechliu]

maybe  this question like is money can destroy  the world!I think  it's  not!

[Nilda]

Ever heard of renewable energy? An asteroid the size of Mt. Everest or World War III can destroy the world. Bitcoin is more of a life saver than a global killer if you ask me and most of the people in this forum.

[Mr Bhuiyan]

I think no.Bitcoin will not destroy the world because bitcoin purpose is make a new economic system more fair.Bitcoin  help many people to learn how to earn money.

[Axelseseclevz]

Bitcoin will never destroy the world,instead it can help a lot of people all over the world,mostly those who have not completing their education,due to the lack of financial.

[jcumins]

I don't think that statement is even close to the truth.I am sure that bitcoin is only a positive thing in our life and it can not have a negative impact

[adjong]

Of course not. Bitcoin is not even that popular to cause that much energy consumption.Alternative energy has already been invented.  This precious world is not yet well promoted. If it is promoted well then people will get a good idea about Bitcoin slowly. Ultimately, Bitcoin Bitcoin can not destroy the world in my eyes.

[nory51]

For me bitcoin cannot destroy our world because bitcoin and cryptocurrency is have a great project to help the world to improve. Many kind of project that improve world like sunmoney project that collect trash and that why the world helping the environment and the world not to trash by this kind of project

[dillpicklechips]

Actually I don't see bitcoin as a destroyer of our world in fact I can see bitcoin as a saver of our world. Bitcoin helps our economic grows and opprtunity for business and jobs. Maybe Bitcoin can consume too much electricy and affects the connection but I think this is not tge issue if that's the problem we can rebuild and develop it.

[ZAYANDI]

Bitcoin will not destroy the world and in fact, it will help the world get better. bitcoin provides something beneficial to the world's environment and the future world economy. I do not think bitcoin can destroy the world, it is the opposite view of bitcoin. But if we say bitcoin boosts economic growth worldwide, I strongly agree with that.

[puday]

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.

Totally agree with you mate. I say eradicate all the banks (with concrete hammers to save energy) and we can save more energy for the next years to come.

[main320]

Bitcoin is the main source of a dangerous atmospheric deviation and without it, you will have a spring throughout the entire year. You trust that electric organizations can be honored with top-ups they get however they might be sick of creating more vitality than typical costs. We envision however it is valid and it will influence the world condition and the world economy later on.

[jame kotler]

if we thingking about that not a big deal for the bitcoin to using that energy, because there has a lot of industry that using so much enegry that we can't imagine and somewhat i don't know how people are getting so neg with bitcoin and just looking in one side of it

[hatha way]

It is true that Bitcoin depletes energy while mining, but it is our responsibility to take more effective and safe steps in that direction. Adopting alternative and renewable energy sources is the best solution to that problem. Bitcoin is about to bring more advantages to the world in comparison with the energy and requirements it needs to do that. We are creative creatures, we have always the ability to find the solution.   Wink