Could bitcoin mining solve climate change?

[Blawpaw]

Philosopher and environmentalist Troy Cross has arisen as one of the most prominent scholars making the case that bitcoin mining has certain special properties which make it ideally suited to powering the development of renewable energies.

Check out his interview on the Futurati Podcast, where he discusses his radical proposals for new financial instruments that foster the 'greening' of bitcoin mining.

Crypto mining is actually doing more harm than good, hence the urgent need to get crypto mining only done with renewable energy. So, Bitcoin mining could never solve the climate change. Moreover, its one of the many industries contributing to it.

Unfortunately, Bitcoin mining is very energy intensive and many companies are still using the normal plug to the wall to mine it. This alone accounts for a lot of carbon dioxide being released onto the environment, so we actually need something to turn this around.

[franky1]

converting cars to electric is not the climate solution

take emissions and number of vehicles
emissions
U S A   5,011,686,600   
India   2,533,638,100

cars
U S A   286.9 million
India   295.8 million

if cars were the main producers.. the how come indias higher car usage is not producing more emissions.

yes power plants build generators to cop with a growth demand of 40 years in the future, meaning

if a region has a 64gw demand today they calculate that in 50 years at a 1% growth factor per year would be 100GW demand in 50 years

so in year 1 thats a 36% of potential income not being bought/used today

so accelerating electric use, gives power plants 34% more today to then use that money to accelerate upgrades and further growth today instead of waiting years, decades.

another thing is USA blames other countries for their co2 production
but if you break to down to co2 per person

america are 15.52 per capita
china are 7.38 per capita
india is 1.91 per capita

america is 2x more than china
america is 7x more then india. even though america has less people less cars..

blaming it on other things is america's fault. they will do anything to blame something else instead of fixing their own problems
india is

[barto123]

if climate change was an issue:

-why do all the promoters of it have beach side mansions? - they should be under water right now
-why do the super rich fly 400 individuals private jets to their conferences?
-why do they push solar power as green? - batteries & panels are worse for the environment, they end up using more fossil fuels & mining lithium, cobalt is done using slaves.
- why do they push wind power? - the maintenance cost outweigh the benefit
- why do they use solar & wind? - they can't power 24/7 and there's much better alternatives
- why are they pushing electric cars so hard? you need electricity to charge them - fossil fuels
- and why do all these devices smart?
- why do they suppress all the free energy devices? - technology exists to run cars on water

IMO none of is about the climate, it's about surveillance & control. it's all a scam. there are no governments. it's all a front to a multi-nation criminal cabal who all work together, to carry out a very nefarious agenda.

also they have the ability to control the weather - if you think it's a conspiracy theory look up weather wars on youtube. they are saying the weather is getting more insane, are they doing it to push an agenda? - up for you to decide.

the only reason they're about to get away with all these lies - they print the money.

so yes - bitcoin & bitcoin mining fixes climate change.

[franky1]

if climate change was an issue:

-why do all the promoters of it have beach side mansions? - they should be under water right now
-why do the super rich fly 400 individuals private jets to their conferences?
-why do they push solar power as green?

climate change is real. but the cause is not as promoted

the water cycle has been interrupted by reservoirs plumbing and sewerage, canal diversions and irrigation demands

when they say its getting hotter they include "it hasnt rained in X days" they dont say "smog level is at a high"
the weather channel does not say "smog alert, prepare for heatwave"

anyway lets talk about power plant usage, demand and capacity

7_________________________
6                                             capacity
5     ____      ____       ____    
4__/       \__/        \__/        \__supply
3_________________________current demand max
2    /\/\/\      /\/\/\      /\/\/\      demand
1/\/        \/\/         \/\/        \/\/

the gap between current demand max and capacity is unpaid for: used and/or potential energy

bitcoin mining has multiple uses
so buying into this excess can give energy companies more income to evolve and upgrade and/or reduce other industries/sectors bills

currently energy companies are trying to "smart meter homes" instead to get the energy to look like:

7_________________________capacity
6
5                                          
4  
3     ____      ____       ____    
2__//\/\/\\__//\/\/\\__//\/\/\\__supply
1/\/         \/\/         \/\/        \/\/ demand

however this may bring down usage from5 to 3
however up front power plant build costs are spread over a price of 7 capacity. meaning (3) are paying (7) (ove double rate)and so prices go up

this is why new industry even temporarily need to buy up a few levels of excess capacity to get more income into power plants and bring down average cost per user of electric where 7 is spread over 7 instead of 3 or 5

[slaman29]

^ It's definitely real and I think you have a huge point countries don't want to talk about. We have been killing our water reservoirs and old forests and wildlife lanes. Cutting through rivers and mountains, daming up new rivers and flooding valleys, and polluting all our rivers and seas with toxic mining waste.

Bitcoin mining has nothing to do with helping fix this BUT if it replaced fiat systems, it is a big burden lifted off the planet.

[Nhazwrath]

Watch for this type of news cycle narrative.



OMG (fear) we (meaning you) are HARMING (something, doesn't matter what) and Here is the Solution (telling you what to do or what to buy)

Everything in that type of statement is pure tyrannical type of persuasion..and about 99.9% of media

Its pure inroads in to 90% of humanity's psychology and instincts.

Think I am wrong?  Go talk to a professional hypnotist learn how they do what they do.  There's no magic there.  Just more understanding of how your brain works.  Heck I haven't even looked it up on YouTube and I am sure someone has posted it. 

Part of the solution here is.   You Must learn/understand how you think and why or you will Never be able to avoid or counter the people that Understand your thought processes better then you. 

[Sayeds56]

The idea that Bitcoin mining would make renewable energy more attractive is not new, it started floating around the same time when it became clear that Bitcoin's energy use is rapidly increasing and already became noticeable on a global scale. So it's already time to show the real world examples of how Bitcoin helps renewables. Where are they?

I agree with your opinion that the energy  consumed for  Bitcoin mining  is rapidly increasing and significant amount of this energy comes from fossil fuel, which pollutes the environment by releasing toxic gases.

I don't think, Bitcoin mining is solving any problem related to climate change, to address climate changes issues,we need to make efforts to switch to green energy and reduce emission of green house gases.

[panganib999]

How so? With the current means of energy harvedt I would argue that bitcoin mining could only worsen the state of our planet. With how fossil fuels are burned and are releasing greenhouse gases, and how bitcoin mining rigs use absurd amounts of electricity, this will only force electric companies to supply more electricity, therefore insinuating more burning of fossil fuels in the process which is in turn to cause climate change to hasten and worsen. As long as our current means of energy harvest and resource management isn't changed bitcoin mining isn't gonna solve climate change.

[dezoel]

Solve? Lol, I think bitcoin mining can worsen the climate change because this activity is too dependent on electricity. Bitcoin mining facilities can also emit heat or smokes which again can damage more to the environment but maybe they can convert this heat coming out to the miners to form another energy/electricity which can then be used for free.

Running bitcoin mining on colder areas is also helpful because like I said earlier mining can release a strong heat which can prevent someone from freezing due to the cold weather. So there it is, bitcoin mining isn't totally bad as it seems or as someone might describe it if we will also focus on some of its advantages.

[Minor Miner]

So there it is, bitcoin mining isn't totally bad as it seems or as someone might describe it if we will also focus on some of its advantages.

Bitcoin mining has never been bad, why? Because it benefits everyone, it brings useful values to life, promoting social development. Like all other industries consume energy and emit greenhouse gases, but they do not call it useless or polluting the environment because it brings jobs to people, and it creates value and benefits for people. Bitcoin is similar, but the government distorts the fact that bitcoin is only harmful and not beneficial because they gain nothing from bitcoin mining.

[Jon_Hodl]

Bitcoin as a whole will do more to combat climate change than any and all government efforts for a couple of reasons.

1. Bitcoin fixes incentives that have been distorted by fiat money. When we work, we are exchanging our labor for something of value (money) but since fiat money can be printed out of nothing, the value of that labor is diluted and part of the value of our labor is transferred to whoever receives the newly printed money. This endless money printing leads to disproportionate consumption of natural resources. We simply cannot have an infinite money supply to measure the value of a finite earth.

We print money to pay for houses, college, cars, and credit cards to name a few. The entire fiat world is based on debt and borrowing tomorrow's earnings to consume more goods today. Such levels of spending and consumption are not possible on a Bitcoin standard.

Bitcoin brings balance back to consumerism by incentivizing us to save our money for the long term rather than short term consumption. We can buy less stuff on credit and need to save up to buy things.

2. Bitcoin mining helps to combat climate change by gravitating to parts of the world where there is a surplus of energy like stranded energy, curtailed energy, and other natural resources that are otherwise wasted. Where we are seeing this the most right now is oil well flaring, solar farms, wind farms, and even hydroelectric dams. Bitcoin mining will eventually be drawn to all of these sources because it will simply become too cost prohibitive to mine with standard grid electricity when surplus energy is being used that would otherwise go completely to waste (free energy). If ever these cheap energy sources are no longer able to produce a profit from bitcoin mining (any potential grid demand would pay more than the block reward), the miners will shut down and relocate to a part of the world with cheaper and more abundant energy. That frees up that energy source to be put to use doing something else like supplying the local energy grid with electricity.

Personally, I am most interested in micro hydro generation using small scale generation that doesn't require river dams (like this Belgian company is producing https://www.turbulent.be/) and can be deployed all along the river to decentralize the mining as well as the energy production all along the river. Bitcoin mining could even pay to build out this infrastructure and once the energy producers could make more money selling to the local grid, the miners stop mining and the local community buys the electricity instead.

Not only will bitcoin bring balance back to consumerism but bitcoin mining will also incentivize and even subsidize the production of incredibly cheap and abundant energy.