Will bitcoin destroy the world?

[AurumService]

No, i dont think so.. Human always find their way to survive when it comes to source of energy. We can produce another renewal energy source. Human race might face some threat of extinction, and bitcoin is not one of them. Not a chance

Since the very beginning we the mankind have been destroyed nature slowly. As the progress goes on the nature suffers more and more but it`s something that we can change only partially. But we all should care more about it. All new technologies and innovations like mining, bitcoins etc require more energy thus consumption of electricity rises from day to day.

[nurbay]

Bitcoin mining activities do require tremendous power.
We can not cover it because it is for mining Bitcoin required sophisticated and special tools and large electrical power.
If mining Bitcoin can destroy the world then its use will obviously be banned all over the country.
But in reality, there are some countries that support Bitcoin.
I think the impact of Bitcoin mining will not be that bad.

[Lakash]

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?

honestly, i have no idea where these numbers came from. how can bitcoin destroy the world when it’s not even a threat to humanity?

[Gudhal Untu]

It may be that everybody thinks that bitcoin can not possibly destroy, but as many hackers and programmers continue to search for bitcoin weakness it is possible that someday they can make a bitcoin destroy.

[njnvvmjp]

Bitcoin has not been able to destroy the world, and the energy of bitcoin in front of Fiat is very small. Perhaps one day many industries will adopt block chain technology, and many companies will use bitcoin to carry out business, but I think it can only be used in the way of national supervision to make digital money be applied on a large scale.

[hefjor]

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?

Thats is normal my friend when you are gaining money from bitcoin, the issue is how much of bitcoin being mined  for that consumption of energy i think its really big enough  theres a lot of getting energy anyway like hydrothermal plant,boimas ,windmill,solar energy not only for oil.This  situation can make people avoiding bitcoin to preserve oil but it is not convincing my friend.

[royromales]

I think that bitcoin will not bother the world because bitcoin is a big cruptocurrency that can be especially cheap to investors and to all people who use bitcoin maybe it will change everything

[Petmalu001]

No, it will need to change or regulators will make it illegal to mine / transact Bitcoin, here are a few problems with Bitcoin. Many people believe that Bitcoin

is the future currency of our world, others argue that it is a store of value. Whilst both could be true, there are fundamental issues with Bitcoin that need to

be changed in order for it to scale to mass adoption.

[satria2]

It may be that everybody thinks that bitcoin can not possibly destroy, but as many hackers and programmers continue to search for bitcoin weakness it is possible that someday they can make a bitcoin destroy.

It's certain that it will happen, but Bitcoin should have better security every day to handle this kind of problem.

[Saddam Bin Delowar]

In my own opinion that Bitcoin will not destroy the world, As long as Bitcoin will not use anything illegal. I do not see bad in bitcoin until it will be used for illegal things and if we mean about Bitcoin improved economic growth all over the world. I believe, Bitcoin will improve the whole world.

[tesmark07]

No and never.
I think it will fix some of the problems like financial crisis and poverty especially to poor and needy people .
Because thru bitcoin will have a chance to earn and gain extra money in a short time period.

[princehandsome]

it depends on the use of Bitcoin if done in the right way then it will not destroy the world, but if used for a negative way then it can destroy the world. the positive and negative side of Bitcoin there it is, then you must use the right way so that Bitcoin can provide good benefits to the world.

[Dark_raven007]

To be honest so much globano did not think. For the present nobody has sounded the alarm, for example ecologists. While there are enough energy resources in the world, he will live. I think there will be enough for our age)

[Flayme]

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've honestly agree with your idea...  We all know that everything has an advantage and probably disadvantage as well...  Bitcoin is really helpful but we cat take the facts that lots of problems emerge because of it including it...  But bitcoin didn't destroy the world but rather creat it...  Possibly soon this problem will be addressed by bitcoin itself...  While lots of bitcoin user earn we cant control that a lots of energy consumed but we are hoping that soon we can solve this problem because electricity is the our major capital here... And if it always used by lots of people soon it will short and probably if it happens the bitcoin will die...  So we should manage our consumption as well....  

[Chacha1000]

It can not,rather it will unite the world

[Pejoh Asu]

I think not, bitcoin works on blockchain technology that everyone recognizes has a very good speed compared to relying on one server, I'm sure that bitcoin development will continue to increase so as to improve the economy globally, and little evidence we can see now that many transactions are turning to bitcoin so that it becomes more effective and cheaper.

[De Suga09]

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?

With that in mind, I think bitcoin will not destroy the word. Some companies that promotes bitcoin are building bitcoin mining center which promotes energy saving devices that is healthy for the environment. With that project, it can give jobs and opportunities to people. Also, many bitcoin companies help those who are jobless to find a job with the use of bitcoin so bitcoin will not and cannot destroy the world, it actually helps the world’s economy.

[priyanjana]

I'm not sure with your statics but as I know bitcoin transaction consume energy than normal visa or master card transaction. But we can produce energy from other source than OIL.  There are several cryptocurrency project  such as Wepower for energy sector to produce Green energy. When think about cost for other transaction, bitcoin is on the best in the world.

[Kaykay]

Many people believe that Bitcoin is the future currency of our world, others argue that it is a store of value. Whilst both could be true, there are fundamental issues with Bitcoin that need to be changed in order for it to scale to mass adoption.

[marites]

How can we say that bitcoin can destroy the world?
Bitcoin is a blessings to everyone because i believe that with bitcoins our life can be changed into comfort.
Mostly to financial problem thru bitcoin we will survive in any financial crisis.