The ugly side of Bitcoin

[Xising]

We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming  Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?

Well, I would say that amongst all similar assets that can be held upon, Bitcoin is really one of those that has a lot of ugly sides so to speak because all of its characteristics have been given that negative image from when it started. Many of its characters can be considered a double edge sword that can be good or bad at any given situation, it's just up to the user himself to know what and when to do the correct actions in order to make those characteristics work for him to get good profits. Also, as much as Bitcoin having its ugly, we cannot discount the fact that it also has a lot of good sides in it that can be capitalized upon in order to get good returns and profits. It's just a matter of knowing what to do, which can be had through continued gathering of knowledge and experience.

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[ogini]

As long as humans are existing we all need money and energy consumption,Bitcoin mining is not the only source of  carbon,the bank,oil companies,private business etc,all of these generate carbon,so I don,t see bitcoin as a source of global warming. 

[darklus123]

this too will change in time. Miners will become more efficient...the code will shift to reflect this too most likely

It will definitely happens sooner or later. It's just that now is not the right time to do so. We still have things to fix, I am not saying tho that the environment effect should not be prioritized the thing here is that it will be very difficult to address as for the current bitcoin situation

[martychubbs]

We can apply this ugliness to almost everything in this world that has been created by human. Probably because it's us who ugly in our greed and consumerism. Global warming was unavoidable. In the scale of a planet it's a normal process and it's only harmful for us. Bitcoin is just a by-product of our need for convenience and our stress about safety of our funds.

[jhonjhon]

Yes, it is true that mining bitcoin uses a lot of energy but how about those gold mining, illegal logging & etc, I think those are the ones who has been damaging our environment big time. Even before the birth of bitcoin, pollution, global warming and the likes has been an issue how come you all blame it to bitcoin all of a sudden. On the other hand, a lot of us is still using money, where do you think it's from? It is from trees right? Bitcoin may have an effect on the environment but it is not the main cause of all environmental problems.

[pragna]

I am not agree with it as i astonished how Bitcoin pollutes environment? Bitcoin using electricity and battery for mining but electricity is much needed at present time. Electricity has changed our life ridiculously day by day and in each and every part of our life electricity is working like Wonder light. So for electricity may has some bad effects but how we blame BTC for that??

[Karamabit_209]

We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming  Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?

Well, don't blame it all to bitcoin because it is not the only one contributor to global warming and in fact, what it does is just a small fraction compare to what gold mining and other human activities do. And to tell you, bitcoin miners is now trying to use the alternatives. And for me, it worth it because of the pros it gave us like fast transaction speeds, a form of investment, an alternative way to buy things with an ease. It even allow us to play on an online casino where we could play poker, cards, and the likes on your home. So don't blame bitcoin to global warming, other polluters do a huge damage compare to bitcoin and bitcoin miners again try to lessen it's effects by doing the alternatives.

[Yamifoud]

I am not agree with it as i astonished how Bitcoin pollutes environment? Bitcoin using electricity and battery for mining but electricity is much needed at present time. Electricity has changed our life ridiculously day by day and in each and every part of our life electricity is working like Wonder light. So for electricity may has some bad effects but how we blame BTC for that??

Even we think that miners contributed wastages to the environment but they will handle it carefully in never cause pollution to us. If we compared it to big factories, I believe it is just below 1% contribution and it will give a huge effect into our environment condition.

Only I saw the dark side of Bitcoin is someone used this into illegalities and fraud. I'll never think this as a huge pollution contributor.

[DreamStage]

Yes, it is true that mining bitcoin uses a lot of energy but how about those gold mining, illegal logging & etc, I think those are the ones who has been damaging our environment big time. Even before the birth of bitcoin, pollution, global warming and the likes has been an issue how come you all blame it to bitcoin all of a sudden. On the other hand, a lot of us is still using money, where do you think it's from? It is from trees right? Bitcoin may have an effect on the environment but it is not the main cause of all environmental problems.

Well if we consider mining does produce a certain amount of polution coming from it's electricity that is used for mining only or creating new network technologies.
Then we should accept the fact that is does have a ugly side overall. But i'm sure there will be better ways to prevent such in the future like using Solar Panels.

[scambust]

We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming  Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?

The carbon footprint of Bitcoin mining compared to other industries is miniscule. Although, it doesn't excuse the pollution caused by the mining. IMHO, it is a bigger issue of pollution caused by generating power. Renewable resources is the key.

[kotajikikox]

In relation how useful bitcoin is i think the polution from the mining farms / transactions is worth it.
I’m more worried about the polution by manufacturing and disposing the batteries for e-cars...

In my understanding bitcoin electricity and power to run the computer system use for mining. I agree with mate food manufacturer, chimical manufacturer use to make cars or equipment are the highest polution contribute worldwide.

[Ranly123]

We all know how beneficial it is for us to have a currency like Bitcoin , something that we can use without any interference and without any middle man, but there is always a problem with things that we usually unsee because of the huge benefits it earns to us and this time it's environmental pollution.
Bitcoin as we know it requires mining to continue it's supply , but the thing is mining consumes Tons of energy and thus makes it harder for us to cope up with the stress it is putting up on the environment.
Pollution, global warming  Bitcoin is causing all this , one might argue that it won't be necessary after a while but what about right now ? It's hurting the environment and we have no stable solution for this.
Shouldn't we focus on this too ? Rather than other things ?

Pollution is everywhere and it a nature to mankind that everything will have an effect to the environment. Maybe we should just accept the fact that every positive action that people do has a negative reaction to the environment.

[MFahad]

In relation how useful bitcoin is i think the polution from the mining farms / transactions is worth it.
I’m more worried about the polution by manufacturing and disposing the batteries for e-cars...

In my understanding bitcoin electricity and power to run the computer system use for mining. I agree with mate food manufacturer, chimical manufacturer use to make cars or equipment are the highest polution contribute worldwide.

But i heard most of the countries ban mining, recently China also ban it then it is good thing. It is true, mining need a lot of electricity and also need big capital tomake it. So better to buy only bitcoin and in my country mining is totally ban.     

[niisarearning]

Bitcoin emerged as an alternative option to the traditional currency with extended features and its underlying technology i.e. blockchain is grabbing the attention with its security benefits. But every good thing has some setbacks which make it harder to accept with ease and the same thing happening with Bitcoin now!

Yes bitcoin or crypto currencies are having set back and also compare to traditional fiat currency required paper it was also harmful for environment . Bitcoin reduced that and some mining electricity required now , Even Smart phone and laptop charge required phone . It is also consuming huge electricity . Once segwit or offchain transaction implementation done there will be reduction of this problem.

[Nnuego]

How on earth is bitcoin causing environmental pollution through mining (small portion of it though). What happens if it's been mined all over the world? That means the world will put a stop on it. Bitcoin pollution is never an issue,the issue is how it will be adopted all of the world

[Irvinn]

How on earth is bitcoin causing environmental pollution through mining (small portion of it though). What happens if it's been mined all over the world? That means the world will put a stop on it. Bitcoin pollution is never an issue,the issue is how it will be adopted all of the world

Actually, I wonder who raises this question.  Why do some people talk about the fact that mining Bitcoin causes environmental pollution, while not paying attention to what is happening with the pollution of the seas and oceans, with deforestation, with CO2 emissions into the atmosphere and in general with the complete destruction of nature in the world  .  Why not pay attention to this, when our system destroys each state with its own plants, while no one is engaged in reducing carbon dioxide emissions. 

[fiulpro]

In relation how useful bitcoin is i think the polution from the mining farms / transactions is worth it.
I’m more worried about the polution by manufacturing and disposing the batteries for e-cars...

No pollution is worth it , none.
You are more worried about pollution from manufacturing departments ? But will choose to ignore this ?
This is something that actually shows how concerned you are about your environment, actually there are renewable options available for us when it comes to using electricity, one can actually go and do something about it , but just considering that it's useful and not doing anything about it is something that won't do good for anyone.

[samsul1234]

maybe you are too blaming one side especially bitcoin, you don't see much from people in luarsana that damage nature not because of bitcoin, a lot of pollution everywhere, i live in indonesia and pollution here is not caused by bitcoin

[Janation]

It all depnds upon how you use bitcoin.
Like Many Scammers are using crypto only. It is a bad side.

It is true that there are a lot of scammers, but it is on us how we will be taking care of our investments or cryptos.

Since the first year Bitcoin became available, we all know it is not safe since it is a decentralized cryptocurrency and it is a digital currency, the horror of early digital currencies will still be in our minds. But it proved that Bitcoin is secure, it is hacked in the past but after that, it never happened again. For me, the ugly side of BTC is the people who wants to earn money since they are taking advantage of the price movements and other people are affected by that decision, I think this world is cruel for those people that is new here.

[Sithara007]

This is more of a temporary issue. As technology progresses, we will see more powerful mining rigs, that consume only a fraction of the power that the current mining rigs consume. If you remember, the old computers (of the 1990s) consumed a lot more power when compared to the PCs and laptops of current generation. The same will happen with Bitcoin miners.