Bitcoin making computers more EFFICIENT & powerful making the world save ENERGY?

[Nrcewker]

Hey,

How good is the argument that bitcoin is actually making the world save energy since it is pushing the limits of computer technology making computers more efficient and powerful and so having an overall positive impact in saving the world?
Is that a convincing argument to those that say that bitcoin is a huge waste of energy?

- remotemass

I would say that No Bitcoins are not making the computers more efficient and powerful.
I mean whenever we want to mine Bitcoins, we build a miner whose sole work is to completely focused on mining the Bitcoins and hence we can’t use it as a personal computer.
So firstly there is no need to argue on this topic right now, as this is both completely a different things.
Regarding saving the world. I don’t think miner plays any crucial role.
I mean until and unless your miner is running on solar energy, it will generate huge electricity bill.
So yes it’s hampering a natural resource electricity. So yes it doesn’t have a positive impact on saving the world.

[Darker45]

If Bitcoin is doing that for all the computers in the world that are used in schools and homes and workplaces, then perhaps we should credit Bitcoin for it. But it's not the case. Well, in the first place, it is not even Bitcoin itself that is doing that. Manufacturing companies are creating advanced technologies that are focused on Bitcoin mining and Bitcoin mining alone. The rest of the world's ordinary computers are having their own development pace. And also, those more powerful technologies have high energy consumption, so I guess there's really no energy saving here.

[goldkingcoiner]

Hey,

How good is the argument that bitcoin is actually making the world save energy since it is pushing the limits of computer technology making computers more efficient and powerful and so having an overall positive impact in saving the world?
Is that a convincing argument to those that say that bitcoin is a huge waste of energy?

- remotemass

Its not that wrong to say that mining Bitcoin is a huge environmental disaster. This has nothing to do with Bitcoin but rather the electricity which is generated with really dirty and outdated fuels. If we were all using a renewable energy source, Bitcoin mining would be very expensive which would mean the price of Bitcoin would be a lot higher than it is now... But people are too greedy and stupid. They think short term and do no comprehend the advantages of green technology. As long as there is profit, nobody cares about the air they breathe or the microplastics in their gut.

[dataispower]

Hey,

How good is the argument that bitcoin is actually making the world save energy since it is pushing the limits of computer technology making computers more efficient and powerful and so having an overall positive impact in saving the world?
Is that a convincing argument to those that say that bitcoin is a huge waste of energy?

- remotemass

It's a good argument to an extent, and that is that BTC is a part of the emerging technologies that are pushing the limits of computing and demanding for computer tech to keep up with it's demands. So it's definatelly not the only thing, but it's in the category with other new techonlogys and social developements.

Bitcoin is technology that is being built for it purpose,but combining it's technology with other computering technology is not what i don't understand it's fact, when observing bitcoin you will see that has it structure of technology and very good structure of undependable technology also, people that is criticisms bitcoin as waste of time and waste of technology plans, are those once who don't know the technology behind bitcoin development and bitcoin technology.

[Reatim]

Hey,

How good is the argument that bitcoin is actually making the world save energy since it is pushing the limits of computer technology making computers more efficient and powerful and so having an overall positive impact in saving the world?
Is that a convincing argument to those that say that bitcoin is a huge waste of energy?

- remotemass

We only have very few argument that points a good part in having bitcoin specially in terms of Energy saving and efficiency , most of the thread and posts that we come across is about banning of Bitcoin in specific area because of Energy expensiveness .

____________________________

But like arguments above? this is a Poor and not supportive topic that only poor relation to the actual users can prove.

not unless people can do wiser in Mining and transacting bitcoin with cheaper electricity ? this issue will always be a problem.

[BlackHatCoiner]

No, it's not, but again, a higher reward would make miners spend more on gear.

That's reasonable to assume it's true.

And that was back in March when we were below 200exa, we're now already at 220...

I think you're avoiding the big picture. Efficiency isn't just "which of the two requires more energy"; it's what's having a better performance. The banking system uses productive elements such as labor, buildings, cars, various kinds of tools, technology, energy of course etc., all of which could be used to satisfy another need. In Proof-of-Work there's no other real cost besides GPUs/ASICs and the energy that's required.

And again, transactions are settled more efficiently. It's more efficient to pay a merchant with Lightning. It's more efficient to send money oversea. It's more efficient to utilize divided possession.

[jaberwock]

So Bitcoin is actually extremely inefficient between how much energy it consumes and how much utility to the world it provides.

This is the same as saying that it's inefficient because it uses too much energy for only 7 TXs/sec. It definitely is inefficient, that way, but its properties are much broader than that. It's far more efficient to move thousands of dollars oversea now more than ever. It's far more efficient to open a channel with your co-workers, and pay them that way, instantly, with zero fees.

The fact that the world ignores these advantages, doesn't make it unfavorable. It's potentially more efficient than the banking system.

This is the approach that I have. I mean yes creating it could be inefficient, and sending it from you to your friend sitting next to you could be terrible as well. However, sending money from USA to India, from Japan to Nigeria, from UK to Qatar and what not, all of these are a lot cheaper and the method we have with crypto is quicker and cheaper and more energy efficient then whatever has been done so far in the world.

When the whole world finds a way to make it possible for people to send and receive money via bank wires very cheaply, anywhere from the world to anywhere in the world, it should be cheap in order to make bitcoin not valuable as it is.

[justdimin]

How good is the argument that bitcoin is actually making the world save energy since it is pushing the limits of computer technology making computers more efficient and powerful and so having an overall positive impact in saving the world?
Is that a convincing argument to those that say that bitcoin is a huge waste of energy?

If we are approaching it like that, then we would have to say everything that is working at the same time is saving the world energy. Like the battery in cars, the more you use your car, the more it gets regenerated, and it continues to work, rarely they stop to be fair, only if you do not use it for long periods of time.

This is why I highly doubt that it would really matter the same way, computers being used and making money is not the case anymore neither, it is asic miners and GPU rigs that control the mining world. Overall, it is a shame that we have to do it this way, some other way would have been better, but it just doesn't work any other way so far with the big name ones.

[BlackHatCoiner]

I mean yes creating it could be inefficient

In a way, it is, because there's nothing cheaper than Proof-of-Work. So, if we count this resources-wise, creating a new form of money with Proof-of-Work in a cartel-resistant way is efficient.

and sending it from you to your friend sitting next to you could be terrible as well

Not if we decide to utilize Lightning, it isn't. Nor if my friend is willing to accept a non-RBF transaction as settled. Both can happen instantly.

it should be cheap in order to make bitcoin not valuable as it is.

Note that it isn't just the efficiency that makes bitcoin valuable. It's censorship resistance, privacy (or pseudo-privacy, whatever), self-authentication and lower costs as well.