Bitcoin is environmental menace! BTC miners are carbon terrorists!

[Glimpses]

We definitely can’t ignore the environmental hazards that bitcoin mining causes but we all know that developers have been attempting to fix it. Let’s wait for that.

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[LegendaryK]

We definitely can’t ignore the environmental hazards that bitcoin mining causes but we all know that developers have been attempting to fix it. Let’s wait for that.

I am curious what exactly are the developers doing to fix the environmental hazards that bitcoin mining causes?

[Bitcoin SV]

Tesla’s Kimbal Musk says company was ‘very ignorant’ of environmental impact of its Bitcoin purchase



In an interview with TechCrunch onstage at the Ethereum Denver conference, Tesla board member Kimbal Musk, brother of CEO Elon Musk, said that the company had been “very ignorant” of the environmental impact of Bitcoin when it announced last year that it would purchase $1.5 billion worth of the cryptocurrency and would plan to allow owners to purchase the company’s vehicles with the currency.

“When we invested in Bitcoin, we were very ignorant. We had no idea of the environmental impact, we literally didn’t know, we were like this seems like a good store of value and a good way to diversify assets. And of course, it didn’t take very long to get a million — I’m not kidding probably a million — messages telling us what we were doing to the environment,” said Kimbal Musk, in an interview with this reporter. “And of course, our company is about creating alternative energy futures so we really were not informed enough when we made that decision.”

Kimbal Musk says that while Tesla “didn’t necessarily regret” its Bitcoin purchase, he hopes that the broader blockchain industry can move to more environmentally friendly infrastructure, noting that his own philanthropic organization Big Green had embraced a crypto-native DAO governance structure operating on a less energy-intensive blockchain.



“I really do not agree with the environmental impact of crypto, but I love what it does.” Kimbal Musk said onstage. “So we’ve just got to figure out how to do it without the environmental impact…. it’s simply not an option to have this environmental impact.”

Tesla’s decision to buy Bitcoin last year prompted a major bull run for the cryptocurrency, though that surge was famously reversed months later by the company’s announcement that while it did not immediately plan to sell its Bitcoin, it would no longer be accepting Bitcoin as payment for vehicle purchases.

“Cryptocurrency is a good idea on many levels and we believe it has a promising future, but this cannot come at a great cost to the environment,” Elon Musk wrote, partially, in a tweet last May. “Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.”

While there is still plenty of missing data around how heavily the Bitcoin mining network relies on renewable energy sources, it is clear just how significant the network’s energy usage is. Estimates from Digiconomist‘s energy tracker suggest that the total annualized energy footprint of Bitcoin’s mining operations has nearly doubled since Musk’s tweet last May. The Bitcoin network contributes as much carbon to the atmosphere as the country of Kuwait does on an annual basis according to the site’s estimates.

Kimbal Musk has served on Tesla’s board since 2004.

https://techcrunch.com/2022/02/23/teslas-kimbal-musk-says-company-was-very-ignorant-of-environmental-impact-of-its-bitcoin-purchase

[DooMAD]

Looking at Bitcoin and comparing to other digital assets based on CO2 emissions and the amount of energy used for hashing, BSV is the overall greenest.

Power consumption is the price you pay for security.  And this is the alternative price you pay if you don't have a secure network.  I know which one I'd rather have.  

Arguably, transacting on weak and insecure blockchains is a bigger waste of energy.  Like squandering money constructing something expensive on a known sinkhole or bog.  BSV scamcoin is an utter waste of time/effort/energy/money.  Not green in the slightest.  It's basically just pissing resources up the wall to talk a big game when you aren't actually achieving anything (aside from painting a target on your arse).  

Not to mention the part where the entire scamcoin project is part of an ongoing fraud to support a renowned identity thief who has declared war on this very community.  You and all your supporters are scum.

[Bitcoin SV]

Bitcoin mining is actually worse for the environment since China banned it, a new study says

Despite a crackdown on Bitcoin in China last year, mining the largest cryptocurrency actually got much dirtier and emits around the same amount of CO2 annually as a country the size of Greece, a new study shows.

The joint study, titled Revisiting Bitcoin's Carbon Footprint, showed that the share of renewable electricity sources that fuel the Bitcoin network may have decreased from an average of 41.6 per cent in 2020 to 25.1 per cent in August 2021.

It also showed Bitcoin could be responsible for 65.4 megatonnes of CO2 annually, which is comparable to country-level emissions in Greece.

In May 2021, Chinese authorities ordered a crackdown on crypto mining and trading and regulators banned financial institutions from offering services related to cryptocurrencies.

As a result, many miners fled to Kazakhstan and the United States.

One of the reasons for the decline in renewable energy sources powering Bitcoin mining is because the Bitcoin network no longer had access to hydropower from the Chinese provinces of Sichuan and Yunnan, said Alex de Vries, one of the authors of the study and a researcher at the School of Business and Economics at the Vrije Universiteit in Amsterdam.

"The reason why they had that amount of renewables was because within China, they could move around and they could get hydropower during the summer months and then in the winter months, they would be using coal," he told Euronews Next.

https://www.euronews.com/next/2022/02/26/bitcoin-mining-was-actually-worse-for-the-environment-since-china-banned-it-a-new-study-sa

[amishmanish]

This Shit Vision scammer had gone off the radar for some time. Looks like its back again with the same old agenda. The BSV scammers definitely have a very well-paid PR team. Despite getting shat upon almost everywhere including twitter, they seem to have a knack for making up new websites to give BSV a veneer of being legit.

I wonder if its the same person behind the account now or just another paid sock-puppet posting his lying master's bullshit.

After failing to convince anyone of the legitimacy of BSV, they seem to want to play the environment card. Well, at scaled TPS, every PoW crypto will be the same. Even if changes are made, they can be incorporated into Bitcoin. Nobody needs a scammer like CSW to tell the community what to do or believe in. The community chose a long time ago when every respectable figure rejected BSV and that scammer.

Just take your shit away.

[Bitcoin SV]

This Shit Vision scammer had gone off the radar for some time. Looks like its back again with the same old agenda. The BSV scammers definitely have a very well-paid PR team. Despite getting shat upon almost everywhere including twitter, they seem to have a knack for making up new websites to give BSV a veneer of being legit.

I wonder if its the same person behind the account now or just another paid sock-puppet posting his lying master's bullshit.

After failing to convince anyone of the legitimacy of BSV, they seem to want to play the environment card. Well, at scaled TPS, every PoW crypto will be the same. Even if changes are made, they can be incorporated into Bitcoin. Nobody needs a scammer like CSW to tell the community what to do or believe in. The community chose a long time ago when every respectable figure rejected BSV and that scammer.

Just take your shit away.

LOL.

We are helping to protect environment offering green alternative of BTC

BSV - is a green alternative

[Darker45]

Bitcoin mining is turning green. But the point is, what is not an environmental menace nowadays? Your food is an environmental menace. Your clothes are an environmental menace. Your gadgets are an environmental menace. Your house, furniture, car, bicycle, lamp, carpet, and everything else are an environmental menace. Your hobby is an environmental menace. You know what, humans are an environmental menace. But, again, Bitcoin is turning green.

[Bitcoin SV]

Bitcoin mining is turning green.

That ridiculous. Hashrate of BTC is growing. BTC is not green. Greedy BTC miners are carbon terrorists!
BTC is environmental menace.



https://www.blockchain.com/en/charts/hash-rate

[odolvlobo]

Bitcoin mining is turning green.

That ridiculous. Hashrate of BTC is growing. BTC is not green. Greedy BTC miners are carbon terrorists!
BTC is environmental menace.

I totally agree, but ...

• The solution is to force Bitcoin miners (and everyone else) to stop using fossil fuels to generate the electricity that they use.
• Bitcoin's high energy usage is due entirely to its incredible success. Bitcoin SV is greener only because it is a dead coin.

European Union is on Track to Ban Bitcoin

Yeah, that didn't last long.

[Bitcoin SV]

Bitcoin SV is greener only because it is a dead coin.

THIS IS NOT TRUE

BSV is not dead coin, BSV is cheap

look at our metastore, we have many active BSV-based apps

[Darker45]

European Union is on Track to Ban Bitcoin

Here's the latest: "EU Parliament Monetary Committee to Vote on MiCA Next Week. Wording that would have banned proof-of-work cryptos like bitcoin has been removed."

"An independent topic of proof-of-work is no longer provided in the MiCA," Berger told CoinDesk, confirming his promise to remove language he had previously called a "de facto" ban on Bitcoin.

https://www.coindesk.com/policy/2022/03/07/eu-parliament-monetary-committee-to-vote-on-mica-next-week/

Bitcoin mining is turning green.

That ridiculous. Hashrate of BTC is growing. BTC is not green. Greedy BTC miners are carbon terrorists! BTC is environmental menace.

I hope we could find a totally objective and comprehensive data on how green or not Bitcoin mining is. So far, anti-Bitcoin could cite data that would serve their purpose while pro-Bitcoin could also cite data that would serve theirs.

On the other hand, pro-Bitcoin has been arguing that its energy consumption is somehow justified because that's the way to make sure transactions are secured and are impossible to tamper. In the same manner that tumble drying, which has a higher carbon emission than Bitcoin, is justified because it's the most efficient way to dry clothes.


https://twitter.com/DocumentingBTC/status/1500919244229390342/photo/1

[Bitcoin SV]

Biden to Order Federal Agencies to Study Cryptocurrency Impacts

On March 9, President Biden will sign a long-awaited executive order instructing federal agencies to study various impacts of cryptocurrency use. The order will task regulators with reviewing risks to consumers, investors, and the economy at large. Following the study period, which will be ongoing for several months, federal agencies will prepare reports based on their findings. The White House will then use those findings in any new regulatory actions in the future.

The cryptocurrency market has grown to about $1.75 trillion in value in the span of just over a decade. Roughly 40 million adult Americans have participated in the digital currency market in some way, making this no longer a space for niche investors.

• President Biden's March 9 executive order will task federal agencies with considering the impact of cryptocurrencies on U.S. sanctions, the environment, and other areas of concern.
• Federal agencies will report findings to the White House in the coming months, with additional regulatory measures potentially to follow.
• The order aims to support innovation while stemming risks to the individual investor, to businesses, and to the broader economy.
• The order will also formally launch an investigation into the possible launch of a Federal Reserve-backed U.S. digital currency.

Concerns About Sanctions, Environmental Impact
In a Treasury Department statement issued ahead of the executive order, Treasury Secretary Janet Yellen said that the order will facilitate responsible innovation in the cryptocurrency space and will also address risks. President Biden's administration is expected to study how digital currencies may negatively affect U.S. sanctions and anti-money laundering efforts. These issues have become especially prominent in recent weeks as the U.S. has imposed sanctions on Russia following the latter's invasion of Ukraine.

The order will also launch a study of the environmental and climate impacts of cryptocurrency mining. The mining process is notoriously energy-intensive in many cases.

https://www.investopedia.com/biden-to-order-federal-agencies-to-study-crypto-impacts-5221587

[Bitcoin SV]

Bitcoin should be stopped

Environmantal impact of BTC is growing in geometric progression

Wake up! Blind fools!

[Bitcoin SV]

Bitcoin is getting even dirtier

Bitcoin is a pollution-creating mess. Despite efforts to make the energy-intensive mining process friendlier to the environment, it has grown significantly more reliant on fossil fuels over the past year.
China's cryptocurrency mining ban in the spring of 2021 significantly worsened Bitcoin's environmental impact, according to a new research on mining published in Joule. It is because Bitcoin miners were tapping into a significant amount of Chinese hydropower which suddenly evaporated when China made mining illegal, said Alex de Vries, one of the study's authors and a researcher at the School of Business and Economics at the Vrije Universiteit Amsterdam.
So miners took their business elsewhere, including countries using significantly dirtier energy than China. Electricity sources powering the Bitcoin network were just 25.1% renewable in August 2021, nearly 17 percentage points lower than the 2020 average.

Mining Bitcoin each year produces as much pollution as Greece created in 2019, the study found. A single Bitcoin transaction results in the same carbon footprint as a traveler flying from New York to Amsterdam.

"After China banned Bitcoin mining, everyone was expecting it to become more green, but we are somewhat surprisingly seeing the opposite happening." said de Vries. "A lot of the hydropower these miners got previously in China has now been replaced with natural gas from the US."
Bitcoin mining is still booming in the United States. According to the study, many of the American Bitcoin mines are powered by natural gas and coal. Kentucky now offers subsidies to crypto miners, looking to attract business for the state's coal industry.
Kazakhstan has also become a destination for Bitcoin miners. According to the study, the country's electricity grid is reliant on hard coal, which is even more polluting than the coal used in China.
The hydropower behind China's Bitcoin mines was often held up by cryptocurrency advocates to rebut criticism about the technology's environmental impact.

In May, Coinbase — one of the largest cryptocurrency marketplaces — published a "fact check" citing China's hydroelectric plants in trying to undermine the idea Bitcoin contributed to climate change.
Coinbase did not respond to CNN's questions on whether it stood by its fact check in light of China's cryptocurrency crackdown, but said in a statement it believes "the industry is innovating at an encouraging pace to solve these challenges... Community-led change is possible and crypto can be part of the fight against climate change if we come together to solve these challenges."

https://edition.cnn.com/2022/02/26/investing/bitcoin-mining-renewable-energy/index.html

[Fundamentals Of]

Which comes heavier, the environment or our currency's security? But it doesn't mean that Bitcoin's only option to be able to work and be of use to everyone is to destroy the environment. It could keep it's secure design while minimizing its environmental impact. Bitcoin is no special case when it comes to environmentally-destructive technologies. But like the other technologies, Bitcoin is also starting to transform into an environment-friendly currency.

[Bitcoin SV]

Funny to read from a fan of pedobitcoin about the harms of the original bitcoin! For some reason globalists, when talking about carbon dioxide emissions, forget to mention erupting volcanoes, which emit more CO2 than all of humanity. So it seems to me that this topic is best not brought up at all. I take this opportunity to say hello to the real Satoshi through the author of this thread.

Hey toddlers. BTC has no future with that agressive mining

Volcanoes? You forgot one thing, volcanoes - it is a natural formation. BTC - is a fully anthropogenic factor

[Bitcoin SV]

Why Is Bitcoin Bad For the Environment? It Spends A Lot of Energy (and Elon Musk Knows It)
https://youmatter.world/en/bitcoin-bad-environment-impact

[DooMAD]

BTC has no future with that agressive mining

It's the complete opposite of that, actually.  Weak and insecure chains get compromised.  They are the ones with no future.  

BTC continues to be more secure than any other PoW coin.  For that reason, it will outlast the multitude of cheap imitations out there.

Bitcoin should be stopped

 

It can't be.  Market forces determine everything.  No one is choosing for Bitcoin to have a higher hashrate than any other coin.  That's just something that naturally occurs when a coin is actually worth mining.  Undesirable shitcoins can claim to be "green", but that's merely a side effect of being worthless trash that no one can be bothered mining for.

BSV is cheap

"of inferior quality or worth"

No arguments there.  Exceedingly cheap.  

Sometimes in life, you get exactly what you pay for.

[odolvlobo]

Why Is Bitcoin Bad For the Environment? It Spends A Lot of Energy (and Elon Musk Knows It)

Using electricity is not bad for the environment. Burning carbon to generate electricity is the problem.