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Author Topic: Let's make mining sustainable  (Read 551 times)
danherbias07
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January 15, 2020, 07:50:53 AM
 #61

Interesting to keep the environment clean.
But there are a lot out there which needs some focus first before going for bitcoin.
How old bitcoin is? Why is it questioned now with pollution?

At what time is cigarette created? How the hell is that thing cannot be stopped from creating more?
How about the pollution of vehicular things?
Let us not go with factories too.

This world will be abused by human no matter what goal we look to save it.

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January 15, 2020, 08:51:24 AM
 #62

You keep saying the miners will switch pools, what you keep avoiding is they only know to switch pools
after the 51% attack is made public.
Miners will realize immediately that they are no longer mining on the main chain and can switch to honest pools. You are also assuming that somehow these 4 mining pools (which as we established are comprised of thousands of users) will be able to co-ordinate a 51% attack in complete secret without a single user deciding against it, bearing in mind that any user who continues to mine honestly will make much more money than if they take part in the attack.

Given that we mine (on average) 144 blocks a day for a total reward of 1800 BTC, in what scenario are you imagining a pool with 20% of the hashpower wpi;d be willing to give up ~360 BTC a day (~$3 million a day) to support someone else's 51% attack, at no profit to themselves?

giving power to another 4 guys to trust
Repeating a lie often enough doesn't make it true.

That is the scenario set to be played out, thinking miners will support btc out of the goodness of their heart, well is fantasy at best.
The difficulty will readjust and mining will be profitable again. This is pretty basic stuff.

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January 15, 2020, 03:08:17 PM
 #63

Interesting to keep the environment clean.
But there are a lot out there which needs some focus first before going for bitcoin.
How old bitcoin is? Why is it questioned now with pollution?
Same question. It is sad seeing the world on fire now especially in our rain forests, pollution contaminating both water and air but what these things can connect to bitcoin mining? All miners are just consuming electricity power and that has nothing to do with pollution, climate and environment changes. Mining operations uses a lot of electricity because of high capacity chips producing E-waste consuming 54 terrawatt per hour a year and If you don't know how much electricity is that, the average estimated consumed power of mining is the same as what the Switzerland is consuming in a year.

This world will be abused by human no matter what goal we look to save it.
What happening to the world right now is more of like the consequences of modernization. Have you seen the path of bushfire in Australia similar from what the possible loop train project? I'm not sure about this one but I think that's how they deal with the environment. sucks.

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January 15, 2020, 09:13:37 PM
Merited by dkbit98 (1)
 #64

<snip>
If you don't know how much electricity is that, the average estimated consumed power of mining is the same as what the Switzerland is consuming in a year.

There is no doubt that the amount of energy consumed by bitcoin mining is huge, but its energy usage shouldn’t be compared to the power usage of a country. Bitcoin isn’t a country, so it makes no sense. Here's another fun fact to put things into perspective: "The amount of electricity consumed every year by always-on but inactive home devices in the USA alone could power the Bitcoin network for 3.2 years." (source: Cambridge Centre for Alternative Finance)

Cryptocurrency mining is not to blame for the world relying mostly on fossil fuels for its electricity.
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January 16, 2020, 12:24:26 AM
 #65

giving power to another 4 guys to trust
Repeating a lie often enough doesn't make it true.

Ignoring the truth won't stop the consequences of being ignorant.

That is the scenario set to be played out, thinking miners will support btc out of the goodness of their heart, well is fantasy at best.
The difficulty will readjust and mining will be profitable again. This is pretty basic stuff.

In your Delusion, Miners never go bankrupt, Reality Differs from your opinion.
When the miners decide another network is more profitable , btc is dead in the water, your home PC can't secure it anymore.  Cheesy

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January 16, 2020, 03:11:36 AM
 #66

one of the things that we really have to pay attention to if we don't want bad things to happen, hopefully we can understand from this problem what we must do so that this does not become a bad impact.
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January 16, 2020, 07:05:33 AM
 #67

I don't understand what OP mean, is he saying the fire that broke out in Australia was caused by mining bitcoin? Or was caused by bitcoin miner? This is so stupid and hilarious way of thinking  Grin Grin dude what are you thinking?  Huh , people have been mining bitcoin since 2009 including Australia too and fire never broke out since then OMG this is stupidity

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January 16, 2020, 09:34:55 AM
 #68

I don't understand what OP mean, is he saying the fire that broke out in Australia was caused by mining bitcoin? Or was caused by bitcoin miner? This is so stupid and hilarious way of thinking  Grin Grin dude what are you thinking?  Huh , people have been mining bitcoin since 2009 including Australia too and fire never broke out since then OMG this is stupidity
Whenever there happens something it'll be related to cryptocurrency in some way. Long back itself there is more controversy regarding the power consumption on mining activities as a major factor for global warming and other climate change. Compared to the pollution happening around due to different sources the pollution by mining is very small. Also the recent market products on mining were very efficient which further reduces its power consumption and makes it more sustainable.



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January 16, 2020, 09:58:55 AM
 #69

I don't understand what OP mean, is he saying the fire that broke out in Australia was caused by mining bitcoin? Or was caused by bitcoin miner? This is so stupid and hilarious way of thinking  Grin Grin dude what are you thinking?  Huh , people have been mining bitcoin since 2009 including Australia too and fire never broke out since then OMG this is stupidity
Whenever there happens something it'll be related to cryptocurrency in some way. Long back itself there is more controversy regarding the power consumption on mining activities as a major factor for global warming and other climate change. Compared to the pollution happening around due to different sources the pollution by mining is very small. Also the recent market products on mining were very efficient which further reduces its power consumption and makes it more sustainable.

Hmm the main factor of global warming or climate change in my opinion is not just caused by mining, a lot of factors in this world that are not known even greater than a mining. Deforestation, urban development, air conditioning, and many others. In my opinion it has a greater contribution from global warming because there are so many in the whole world even in small or medium intensity.

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January 16, 2020, 02:07:33 PM
 #70

I don't understand what OP mean, is he saying the fire that broke out in Australia was caused by mining bitcoin? Or was caused by bitcoin miner? This is so stupid and hilarious way of thinking  Grin Grin dude what are you thinking?  Huh , people have been mining bitcoin since 2009 including Australia too and fire never broke out since then OMG this is stupidity
Bitcoin mining in itself consumes electricity which are generated mainly from the burning of fossil fuels that deplete not only the quality of land but also the atmosphere that we live in. What the author wants is to promote ways that can make bitcoin mining greener by promoting the use of renewable resources and many others. And yeah it could also be because of the Australia Bushfire. Either way this is a good idea.

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January 16, 2020, 07:09:53 PM
 #71

Examine the contradiction in your words.

It ok , if ethereum switches to PoS , but not bitcoin.

Why one and not the other?

I'm not contradicting myself. PoS was never on Bitcoin's roadmap and will not be forked in ever (the far majority is actually against it to make it even more clear that it's not going to happen). PoS has been on Ethereum's roadmap for years now, and they might actually get it to work out. Different roadmaps, different niches, different ecosystems. It's just how things are.

PoW is quite powerful as long as the incentives align and the miners are following the rules just the way they are. In Bitcoin it's more profitable to be a brave miner than to be a rogue one. There is always theoretical risk, but that's with anything in life. Nothing is bullet proof. Bitcoin throughout the years has proven to be on the right track with PoW while PoS networks haven't shown much of what they claimed to be or wanted to achieve.


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Swordsoffreedom
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January 16, 2020, 09:24:29 PM
 #72

A solution to this is moving to PoS.
We have renewable energy source like solar, wind and water. If we generate more electricity from these resources then we can surely reduce the carbon footprint in the air. Last but not the least, do plant trees.

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nydiacaskey01
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January 16, 2020, 09:42:43 PM
 #73

While it maybe true that mining Bitcoin consumes a lot of energy, it doesn't mean it is the culprit in destroying the environment. Blame the energy producers because they are still producing energy using coal. Also, you may wan't to look into how many old vehicles are out there in the road that produces a lot of smoke which is not good for our health and the environment. Producing power through hyrdo and solar is environmental friendly at least.

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sovie
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January 17, 2020, 03:29:12 AM
 #74

I do agree that carbon emission must be kept under check. In my country there is snow emergency because of too much snow this winter. Obviously this is abnormal whether behavior.
The solution to this is only trees. Time is running out and we must plant as many trees as we can to save our earth from disastrous of carbon emission.   

 
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