Will bitcoin destroy the world?

[shaheer001]

Every process take some energy not only Bitcoin transaction and for your kind information if you count the world banks and then again count the total area of the banks and each bank total electricity cost then in my opinion Bitcoin is 100 time more cheaper than fiat currency transactions and processing.

[kyucryp]

I do not think so. Bitcoin will not destroy the world instead of petrified bitcoin to improve human life. And I do not think bitcoin spends a lot of energy. Bitcoin mining is energy consuming but I'm sure it's not much. and if we are creative we can do bitcoin mining using alternative energy such as electric energy coming from wind and solar.

[Kidmat]

Bitcoin does not destroy the world and it has many reason's contributes the problem in the world. As day passed were not certain what will gonna happen tomorrow. A lot of things could exists in bitcoin that affects the market but not bitcoin could destroy it. Moreover, bitcoin as of today helps many people and at least continuous contributing good in the industry.

[Ayasena]

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

[Legone]

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?

There's alot of huge establishments with heavey equipments and billions of vehicles that consumed alot of energy or oil, but until now a lot of factory companies that continously  producing their products like the product of any new technologies, But the supply of the oil or some other form of energy is still abundant. Don't worry about it because oil or energy won't gone.

[Silberman]

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.

Bitcoin will not destroy the world but we must recognize that there are some characteristics of bitcoin that will make the life of police officers and investigation agencies a lot more difficult, however we cannot delay or destroy this technology just because of that, especially when we take into account that the benefits of bitcoin are going to be way bigger than any disadvantages that it may bring.

[missyqt29]

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 don't think that the pretty large amount of energy consumption of sustaining bitcoin can harm the environment because there are more sources of energy that does not harm the environment. We have new technological advances nowadays and I think bitcoin can run with green energies like solar and wind power.

[patykuprova]

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.

Bitcoin will not destroy the world but we must recognize that there are some characteristics of bitcoin that will make the life of police officers and investigation agencies a lot more difficult, however we cannot delay or destroy this technology just because of that, especially when we take into account that the benefits of bitcoin are going to be way bigger than any disadvantages that it may bring.

I still think there is a chance Bitcoin can destroy the world but indirectly , Bitcoin isn't a weapon or not but it's a currency and it can be used for financial war which is a war without a weapon but it can destroy the whole country in a few years.

[Crafts12]

I believe that Bitcoin will not destroy the world, as long as they will use Bitcoin in the good way. Bitcoin is really the best technology in this century, it enable people to send money virtually without going to any banks. I believe that Bitcoin is the future payment of everyone, it will very helpfun soon.

Of course bitcoin cant do that. Bitcoin hasnt the power to destroy the world. Only people can or the user of it. And I dont think people will let that happen. Bitcoin was very helpful and what is the reason you think that will destroy the world. Use it in a positive way and surely it wont happen.

[Duzter]

Bitcoin is something which is in need for an effective functioning of each and everything in the world. Being a technology advancement what it has caused is big. With blockchain into effect it has made big changes in terms of efficiency and one among that list is the bitcoin.

[Mentari78]

I do not think that will destroy the world, because the digital financial transactions that come with real prices, the growth of cryptocurrency has created an exponential demand for computing power.

[kuckong]

I never thought bitcoin could destroy the world. Although in bitcoin mining requires large electrical power it will not cause contamination. Or maybe in the future we can mine bitcoin by using alternative energy. Bitcoin is very beneficial to millions of people in the world.

[dillpicklechips]

I don't believe that bitcoin will destroy the world they said that bitcoin waste too much energy like consuming too much electricity and connection but I think this kind of problem are easily to resolved and rebuild. Actually bitcoin is not the destroyer it will help us to improve and develop the progress of economy.

[Grayy]

Indiscriminate mining activities, cutting down of trees and general production of heavy machines and equipment have done worse to the world than bitcoin can ever do. You don't need any one particular source of energy to mine bitcoin, so the possibility of using other energy sources can equally be used in bitcoin mining; much solar energy is left untapped.

[adjudicator]

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?

Although you have a point, bitcoin mining is very consumable in energy. But as of now there are lots of things that we can used to provide energy like in dams, we can use the sunlight, the geothermal and also the wind or the windmills, so I believe bitcoin will not destroy our planet.

[jumail]

I don't believe that bitcoin will destroy the world they said that bitcoin waste too much energy like consuming too much electricity and connection but I think this kind of problem are easily to resolved and rebuild. Actually bitcoin is not the destroyer it will help us to improve and develop the progress of economy.

Moreover, bitcoin users are very few in number when compared to the number of vehicles worldwide that cause pollution and global warming. Moreover, many ICO projects are engaged in environmentally friendly energy today, it has a good progress for the future of digital era in the future.

[misteid]

Look from another side, bitcoin and Altcoins will evolve our life Through scientific, medical, environmental and other projects and Make us free from international constraints Imposed by States that control economically and militarily..
I think, despite the drawbacks, that these currencies will achieve international success because we see some countries that have already started trying to apply them now.

[Melodimayy]

Energy consumption of bitcoin transaction is not just depend on that oil barrel that you talking. These days we are not just depend on that kind of energy, but it is true that some of us still used it. Many source of energy in the world these days. I think bitcoin wouldn't destroy the world.

[jurelmartin]

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 dont think so, you see when bitcoin is created it gets a lot of attention, some of it supports it some of it doesnt, those supporters have made a very good point about the creation of bitcoin and the technology behind it because bitcoin can solve the problem that a community suffers from most specially when sending a money around the world they cant send the money that they want to send exactly because of microtransactions bitcoin eliminates that. So if those people open their minds with the oppurtunity of bitcoin it will really affect the way of their living in a good way

[anehh]

yes, bitcoin can destroy the world, if used for a negative activity. money laundering, drugs and acts of terrorism is an issue of bitcoin abuse committed by irresponsible people, this situation could damage the economy, national stability and possibly could cause the world monetary crisis. there is a need for a clear rule of bitcoin, good oversight for the security and goodness of bitcoin to create good prosperity and economy for the presence of bitcoin for the world.