“Green Cryptocurrencies” - they way forward?

[okala]

I think so and as a matter of fact that is already happening, cryptocurrencies have already created an eco friendly environment that have revolutionized the whole financial system today.

[Mometaskers]

It would really depend on the crypto producers, if they think it's worth transitioning to greener energy. Take a look at bitcoin farmers in China. They mostly stay there coz of the cheaper electricity. Some even outright stole power they used for operations.

If the government make it more expensive for them, either they'd move out or invest in alternative energy sources. If it's the later they'll choose I'm expecting some might relocate to the desert areas and setup solar farms though they probably need a HUGE one.

[pawanjain]

Though currently struggling for survival, if we’re talking about the future, could cryptocurrencies have a potential to trigger an eco friendly finance revolution?

All the potential cryptocurrencies are running smooth without any problems. So the matter of survival is not an issue here.
Though the shitcoins are struggling hard, they should probably be, they will end up turning into dust anyway.
The potential coins do have a bright future and I don't know about the eco friendly nature of them but yeah if we find alternative solution for energy consumption then it might trigger an eco friendly solution.
For example, if solar panels are used to generate energy which can be used for crypto mining then it might, in a way, trigger eco friendly revolution.

[rahmatullah9305]

There are alternatives that are more environmentally friendly, efficient, even though they are considered less profitable. In several other crypto variants, the Proof of Stake (POS) system has been used. In this process, it is not based on computational resources, published using a number of coins given by the miner as the main key.

[proTECH77]

Though currently struggling for survival, if we’re talking about the future, could cryptocurrencies have a potential to trigger an eco friendly finance revolution?

Capital YES, cryptocurrency has the potentials to trigger an eco friendly financial environment. The revolution brought by cryptocurrency has been embrace by many countries in the world and others will follow suits. Based on my analysis, cryptocurrency is not struggling for survival rather waiting for adoption to change the entire eco financial system.

[r1s2g3]

I guess the whole cryptocurrency system is much more efficient than whole banking system.
But still you want too eco friendly then you can choose the centralized crypto currency just like current currencies by government (Though it defeat the whole purpose of decentralization revolution)

Have you ever thought how much damage we are doing by promoting urbanization? but still government/leaders are working toward more urbanization in name of development.

[aylabadia05]

there are many ways to change every aspect of our lives with crypto currencies and Blockchain. Because crypto currencies are gaining popularity in the business world and in everyday life, more and more adoptions may be developed from these technologies. Not only is the financial world experiencing a revolution, but almost all aspects of life that require transparency will also benefit from the use of crypto as well as Blockchain technology.

[coffeeastronaut]

there is nothing cheaper than PoW, period. PoS is more expensive in game theoretical contexts.

Cheaper in terms of electricity bills or what do you mean? Care to elaborate on this statement?

[klaaas]

If in the future enough energy can be collected on a green way and become competitive on the rates it could be way cleaner.
It will not happen soon since both takes time.

[XinXan]

Whatever, there are far worse things fucking up the world than cryptos. No one cares about it really, all the politicians that talk about climate change and all that shit do it to get votes, don't get confused.

very true
fun facts
pepsi-co waste more on electric to keep their bottles refrigerated than bitcoin uses. and that refrigeration cost does not protect bottles for eternity/immutably. it just keeps them cool for a short period before it ends up as human urine

fun facts
the funds raised by 'carbon tax' dont go towards planting new tree's in rainforsts. its actually wasted on corporations that develop land into new real estate by them buying up cheap land near waterways and then getting eco-grants to raise the ground level to reduce risk of flooding to their own private property.
(also yes some of the carbon tax ended up paying for some of them man made islands in the middle east)

Of course, plus if they really wanted to save energy or be eco friendly, they wouldn't tell us, we are not the ones responsible for the 99% of the emissions and all that shit, they are, big companies and industries, it's the same as recycling or saving water, we barely use any % of water or recycle 1% of all the shit out there, a big company probably uses more water and throws more plastic than a whole city.

[Kez1817]

Mass adoption of cryptocurrency keep increasing and i didn't see crypto are struggling because it always survive and running smoothly. Also it was an eco friendly than others using energy consumption. It has a bright future of course as you can see that adoption continuesly increasing.

[Altero]

If in the future enough energy can be collected on a green way and become competitive on the rates it could be way cleaner.
It will not happen soon since both takes time.

We are diversifying some technologies into an ECO friendly already and to have a healthy life. But of course, it takes time(probably a years) to finally imposed and may our next generation could fully enjoy it. Good thing in cryptocurrency/blockchain technology is that, we are just saving a millions of papers cause there is no need to print it and we are just using internet to run the system and do transactions. That is very helpful to us and to the mother earth.

[cryptovigi]

that energy consumption index is wrong on so many levels

hers some logic
lets use the high of 50exahash
thats
=3,571,428~ 14thash asics which use 1.3khw
=4642857~ kwh
=4642.9 mhw = 4.6gwh
=40671gw per year = 40tw per year PEAK

we all seen that there have been more efficient asics in the last 6 months. so the number would be lower than 40tw/year
we all seen that there has been hashrates of under 40exa in the last 6 months. so the number would be lower than 40tw/year
...

Undoubtedly you are right, but in this comparison it's not exactly about the exact numbers. Even if, instead of estimated TW per year, we take Minimum TW per year (which is much closer to your calculations) or even simply use the values ​​calculated by you, it does not change the fact that the energy needed for the mining process is similar to the average country consumption what means that it really needs a lot of power!

I am convinced that not everybody throws out old aisics when new ones appear, only a few generations work at the same time - maybe modern farms immediately sell obsolete models, but somebody buys them and for a while mine with them.

In addition, in your calculations you focused only on energy consumed by aisics and to the whole process we also need additional devices that also consume energy, lighting, air conditioning, in addition, we should also remember about energy losses on transmission so it's getting a little more ...

We should also remember that in the world we do not have only bitcoin - of course, it consumes the most energy, but we still have two thousand other cryptocurrencies, of which probably several hundred are based on PoW, so looking at cryptocurrencies as a whole, energy consumption increases to much higher levels.

[ecnalubma]

Though currently struggling for survival, if we’re talking about the future, could cryptocurrencies have a potential to trigger an eco friendly finance revolution?

Potentially it can open a new era of financial revolution, once this industry will bypass all that hinders its growth then nobody can stop it. As cryptocurrency mining moves forward there a lot of rooms for innovation and efficiency solutions were not far from that I believe.

[Doell]

bitcoin has not survival to live up to the value increase with increasing popularity ,I think that survival are only living things and that thinking is far beyond the context ,of this environmentally friendly finance makes sense because use can only be accessed through internet networks ,different from fiat which is difficult to put into a pants pocket if the amount is one car trunk while digital is very easy to save

[gesdan]

right now yes, the bitcoin is a green cryptocurrency, why? because we know that it dont need the material like paper or anything else, because bitcoin is a digital currency, doesnt have physic form. it dont like the real money paper that use paper as their physical media.

[sidhujag]

there is nothing cheaper than PoW, period. PoS is more expensive in game theoretical contexts.

Cheaper in terms of electricity bills or what do you mean? Care to elaborate on this statement?

http://www.truthcoin.info/blog/pow-cheapest/

[jvdp]

right now yes, the bitcoin is a green cryptocurrency, why? because we know that it dont need the material like paper or anything else, because bitcoin is a digital currency, doesnt have physic form. it dont like the real money paper that use paper as their physical media.

Haha great explanation about it. I was thinking about that but fact we are using more internet for making transaction then without digital devices we will not be able to make transaction at all if the world completely adopts bitcoin and other crypto currencies.
Bitcoin should come in physical as well as digital to make green friendly crypto.

[thirdlight]

It seems to me that cryptocurrency does not make sense to fight for a place under the sun. Because it is a separate technology which has been developing very strongly lately. And I think that something will not be in her way.

[Firecold4]

of course you can because paper money in modern times is no longer efficient besides damaging the environment of paper money is also very easily damaged differently with cryptocurrency that will not be damaged because of anything