Bitcoin is environmental menace! BTC miners are carbon terrorists!

[Bitcoin SV]

Globally, Bitcoin’s power consumption has dire implications for climate change and achieving the goals of the Paris Accord because it translates into an estimated 22 to 22.9 million metric tons of CO2 emissions each year—equivalent to the CO2 emissions from the energy use of 2.6 to 2.7 billion homes for one year. One study warned that Bitcoin could push global warming beyond 2°C. Another estimated that bitcoin mining in China alone could generate 130 million metric tons of CO2 by 2024. With more mining moving to the U.S. and other countries, however, this amount could grow even larger unless more renewable energy is used.

https://news.climate.columbia.edu/2021/09/20/bitcoins-impacts-on-climate-and-the-environment

Bitcoin isn’t getting greener: four environmental myths about cryptocurrency debunked

Myth one: bitcoin mining is becoming more efficient

Bitcoin’s carbon emissions are not the network’s only dirty secret. In 2011, competing miners could win the bitcoin bingo with an average laptop. Today, viable operations require investing in warehouses filled with specialised hardware known as Application Specific Integrated Circuits (ASIC). As the majority of mining costs come from energy to run these units, bitcoin miners are always careful to use the cheapest. To avoid wasting energy, the global arms race for bitcoin requires ASICs to be replaced for newer and more efficient models every year.

ASICs can’t be easily repurposed for general computing. Redundant units create around 11,500 tonnes of hazardous electronic waste each year, much of which is dumped on cities in the global south.

Myth two: bitcoin encourages investment in clean energy

Chinese hydroelectric power plants are popular spots for bitcoin mining. While China cracks down on the industry, 61% of bitcoin mining is powered by fossil fuels.

Cheap coal in Australia has found new buyers through bitcoin, as formerly redundant coal mines are reopened to power mining. Miners are willing to move anywhere for residual energy, increasing the profitability of natural gas in Siberia and supporting oil drilling in Texas.

In Virunga National Park in the Democratic Republic of Congo, bitcoin miners are getting special access to cheap, clean energy produced by an EU-funded hydroelectric plant. The plant was designed to help locals find livelihoods beyond poaching and stop them resorting to scouring parkland for wood fuel. Bitcoin miners employ armies of computer servers, not the ex-combatants the plant could help.

Myth three: bitcoin replaces the need for gold mining

Gold mining is one of the world’s most destructive industries. Bitcoin was originally intended as a digital replacement for gold that was also a deflationary means of exchange, capable of rendering wasteful banks and regulators redundant.

But for many institutional investors, gold is being bought to hedge against bitcoin’s volatility. Tesla poured US$1.5 billion into bitcoin, but also declared an interest in gold. While bitcoin is currently experiencing all-time price highs, gold hit one of its own in 2020.

Nor has bitcoin displaced traditional finance institutions. Major banks are vying to get very rich indeed on the back of it.

Myth four: corporate players will boost market for ‘green bitcoin’

Some argue that institutional investors can turn bitcoin green. Yves Bennaim, the founder of Swiss cryptocurrency think tank 2B4CH, claims that as investors like Tesla push prices up, “there will be more incentive to make investments in renewable sources of energy” for bitcoin mining. But miners will always use the cheapest option to maximise returns. It’s not possible to allocate additional rewards to miners using renewables, because it’s difficult to know exactly which bitcoin miners use renewables.

Unfortunately, there is currently no such thing as a “green bitcoin”.

Not all cryptocurrencies are as energy-intensive as bitcoin, though. There are alternatives to proof-of-work. The second biggest blockchain project, ethereum, is switching to proof-of-stake, a new system which is supposed to remove the need for data miners and perpetual hardware updates.

https://theconversation.com/bitcoin-isnt-getting-greener-four-environmental-myths-about-cryptocurrency-debunked-155329

[willoweb]

The threat to the environment has existed since we (all people in developed and developing countries) switched to an industrial way of producing something. As soon as this happened, the inevitable process of chasing profits began, and against the backdrop of ever-increasing competition in the global economy, there are no prerequisites to hope that this process will be stopped or slowed down. And, of course, all this has been happening so long ago that the person who invented bitcoin (whoever he or they may be) had not yet been born. So all this is nonsense.

[fiulpro]

The cars emits a lot pollution as well, did we stop using them and the trucks? No ! Most of the things that we use have some probelms concerned with the environment and we have to understand that the developed nations and other industrial countries are not making it any easier on the environment. We do know that the green mining is just a small portion, But we can hope with projects like El Salvador for more people to take it on. At the same time right now we don't really have a system that can tackle the financial probelms that everyone is facing right now and thus needs bitcoins in every sense, it's a necessity for the moment, plus soon they will stop mining coins and the mining energy would be more concerned with taking transactions back and forth, the small miners will disappear because of all the competition but at the end of the day, the big companies would have to follow green rules and thus make things more sustainable inevitably.

[aoluain]

Ah here we go, another Copy/Paste post about the environment and Bitcoin.

Does the OP expect us all to switch our interest to Bitcoin SV?

I would love to know how the OP thinks about mining for Lithium to fuel new
electric vehicles, what about the energy used there? I'll bet the OP doesnt have
the motivation to search, copy and past all that data because it doesnt
attack Bitcoin mining.

Bitcoin's energy consumption has been debated to death here on BCT. I dont read
any of these threads anymore, there isnt an industry on Earth which doesnt have
a massive carbon footprint.

[Dunamisx]

On the contrary alot of people seems to castigate against what they don't admire and in this case, is the commendations coming from bitcoin enthusiast or those that are against it, naturally man tends to develop a kind of pleasure to what they don't like, bitcoin already is contributing to solving world inefficient energy wasted through the use of a renewable energy while providing another solution to environmental degradation, and with or without bitcoin energy consumption the total amount of waste energy globally remains constant and bitcoin has not come to constitute more loss to this but rather solve part of the menace through renewable energy.

[Bitcoin SV]

The threat to the environment has existed since we (all people in developed and developing countries) switched to an industrial way of producing something.

The cars emits a lot pollution as well, did we stop using them and the trucks? No !

there isnt an industry on Earth which doesnt have a massive carbon footprint.

Do you really think that you will be allowed to continue to pollute the environment?

At the same time right now we don't really have a system that can tackle the financial probelms that everyone is facing right now

New system coming soon

Bitcoin's energy consumption has been debated to death here on BCT.

Then few people attached importance to this, but now it is an official agenda approved by Klaus Schwab himself.

BSV is green. BTC is dangerous for nature. BSV ecosystem & the new world order will be on the same side. The rest of the non-green cryptocurrency will be outlawed

[TheNineClub]

No one is saying that it's not an issue for the environment, we are all aware of that. One of the big factors for its longevity is that it addresses its impact on the environment and in a growing increase in environmental awareness, it's something that it has to tackle sometime in the future. Maybe it could go the Norway route where it's investing in the environment after it got it's money from harming the environment with fossil fuels. It's a strange situation.

[fzkto]

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.

[CryptocurencyKing]

I see things like this and I ask if it's the only one out there. Secondly, bitcoin is just a decade and a year or 2 years old and suddenly, it feels the like the environmental menace just started. I wonder where crude refining has been and other activities that results in the production of hydrocarbon.

Anyway, bitcoin shouldn't be taking the front line of this, it's just pure hatred on the system and the fact that, government and individuals fronting this aren't at the end point of it all. Should they be, I'm sure all that would be forgotten.

[DooMAD]

Boring.  Same tired old crap on repeat.

Read the following topics and understand how minor of an issue it really is:

https://bitcointalk.org/index.php?topic=5325350.0
https://bitcointalk.org/index.php?topic=5385679.0

BSV is green.

I'd have said it's more of a shit-brown.
💩 BitcloneShitVision 💩

[Bitcoin SV]

The cars emits a lot pollution as well

Soon all people will switch to electric cars. And just the same, people should switch from BTC to BSV, because BSV is green (And BTC is not green)

Proof



https://coincarboncap.com

[Ryu_Ar1]

Actually I think this is just a classic reason that is always exaggerated.
Since I haven't been in bitcoin until now I'm here the reasons for environmental threats are still one of the reasons people dislike bitcoin.
Whereas on the other hand there are now many companies that actually produce B3 waste which is classified as a type of waste that is very dangerous for the environment.
I think if we bother thinking about bitcoin being harmful to the environment then B3 there is much more dangerous and who said bitcoin is dangerous not thinking about this?

[Bitcoin SV]

I would love to know how the OP thinks about mining for Lithium to fuel new
electric vehicles, what about the energy used there?

This forum about BTC, not about cars, lithium & waste incinerators. Fuel cars, harmful lithium & toxic wastes is a competence of environmental organizations.

Here is crypto community, not environmental organization. The competence of our crypto community is a awareness of the harm of BTC & fight against its impact on the environment.

[leea-1334]

I'd have said it's more of a shit-brown.
💩 BitcloneShitVision 💩

Hey,,, even shit can be environmentally friendly. Unfortunately, crypto shit does not even contribute to nutrients to help plants grow and make soil fertile.

I always laugh when I see people throw their alts out there and tell people it is environmentally friendly. And then you check the network and see only transactions of miners and holders to each other.

[Bitcoin SV]

P.S. I can't believe this thread is written by PoW coin supporter rather than PoS coin supporter.

BSV are the exception among other crypto. BSV is green in spite of PoW
Only 32 harmless BSV nodes against 8305 harmfull BTC nodes polluting environment

1. The root of the problem isn't Bitcoin, but miner who use non-green energy for their mining activity.

BTC should be banned by all governments for for the sake of the planet.
BTC has no chance of survival with such greedy miners polluting Earth.
Only BSV has the right to survive in the future utopia

[coolcoinz]

ASICs can’t be easily repurposed for general computing. Redundant units create around 11,500 tonnes of hazardous electronic waste each year, much of which is dumped on cities in the global south.

Which is like a grain of sand in a sandbox.
I'm not even going to argue if this is a right number, but for people who think 11k tonnes a year is a lot:
China, the largest producer of electronic waste in the world creates 10 million tonnes every year, the US 7 million.
Worldwide more than 50 million tonnes of electronic waste is produced every year.

You can find these statistics online with ease on multiple sites.

I'd rather if an average household threw out 10kg of electronic trash in the form of Bitcoin miners and support unconfiscatable, censorship-resistant money, than 50kg because they got bored by their 50" TV and need a 60".

[DooMAD]

https://coincarboncap.com

So, you crawl out from the altcoins boards and post a topic in Bitcoin Discussion with the deliberate intent to draw attention to the fact that your forkcoin can supposedly only do one thing remotely well?  And even if it is true, it is largely outside of your direct control anyway, so it's not really even your accomplishment.  Are you sure it's a good idea to highlight by omission that your worthless scamcoin is completely useless at anything else?  I mean... I've heard of "playing to your strengths", but all this does is shine a spotlight on all the things you can't boast about.  Personally, I think it makes you and your scummy project look desperate and weak.  But then, so do most of the things you do on this forum.  

[Bitcoin SV]

Hypocrite, BSV and all PoW coin have similar problem.

But....

BSV is the Green Bitcoin with Ec0-Friendly Mining Process

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.

Less emissions and lower energy usage make it one of the cleanest on the blockchain.

We know that having the ability to scale while using less energy is desirable by all. BSV is the only digital asset that can do both.

https://coinpedia.org/guest-post/bsv-is-the-green-bitcoin

[retreat]

environmental menace? It's not that this fud has been around for a long time but until now it's not bitcoin that is the main cause of environmental damage, there are many factories or vehicle emissions that cause environmental damage, Bitcoin only has an almost imperceptible impact.

[Bitcoin SV]

European Union is on Track to Ban Bitcoin

According to a surprise report published by the German cryptocurrency media agency BTC-ECHO, the European Parliament, one of the legislative branches of the European Union, has plans to ban Bitcoin and other proof-of-work (PoW) cryptocurrencies.  

The final draft of the Markets in Crypto-Assets (MiCA) regulatory framework, the much-anticipated package of cryptocurrency regulations, includes a specific provision that makes illegal the “environmentally unsustainable” consensus mechanism.

What does this mean? This means that Bitcoin could become illegal within the countries of the European Union starting from Jan. 1, 2025.

Businesses in EU would be prohibited from offering any services associated with ‘proof-of-work’ cryptocurrencies, such as Bitcoin.  

Stefan Berger, the center-right rapporteur behind the framework, told the media that the proposal was “very likely” to be greenlit, because it has overwhelming support from both sides.

The regulation was pushed by center-left Social Democrats, the Greens and the Left Party. Some Christian Democrats and right-wing conservatives opposed the addition of the Bitcoin ban, but it was a deal-breaker for the parties that supported cracking down on proof-of-work.

The European Commission, the executive branch of the European Union, will now engage in a trialogue with the member states and the Parliament before reaching a final decision later this year.

https://wallstreetpro.com/2022/02/24/european-union-is-on-track-to-ban-bitcoin