Use of clean energy in bitcoin mining and its impact

[joniboini]

If a miner is connected to the grid and the grid is owner by a government who is ecologically conscious, then the miner may get into green energy without even noticing. (Hopefully they may not notice through an increase on their electricity bills an drop on profitability).

Is there any government that is like that though? As far as I know, some governments who use renewable energy only supplies it in limited amount. At least in developing countries. I might be wrong but I remember reading news about how some miners are blocked by electricity companies even though they use wind to generate energy due to how demanding it is.

I guess miners who have the capital would rather build their own electricity supply instead of relying on government/centralized electricity companies that prioritize regular customers. Some miners might be able to claim that their activity is similar to other businesses, but then their profit might be affected too since their rates can be higher than the norm. CMIIW.

[Sayeds56]

Is there any government that is like that though? As far as I know, some governments who use renewable energy only supplies it in limited amount. At least in developing countries. I might be wrong but I remember reading news about how some miners are blocked by electricity companies even though they use wind to generate energy due to how demanding it is.

I guess miners who have the capital would rather build their own electricity supply instead of relying on government/centralized electricity companies that prioritize regular customers. Some miners might be able to claim that their activity is similar to other businesses, but then their profit might be affected too since their rates can be higher than the norm. CMIIW.

You are accurate in pointing out that governments in most of the developing countries have limited sources of renewable energy and their major reliance is on electricity generated by fossil material like furnace oil, liquefied petroleum gas (LPG) and electricity generated from major water dams. While, in contrast general public in many of these countries including my own, increasingly adopting solar energy system to reduce their energy expenses.

Therefore, obviously, crypto currencies miners will prefer to build their own sources of renewable energy to keep their operational cost minimum and maximize profitability.

[bluebit25]

One of the biggest criticisms of bitcoin was its carbon emissions and its environmental impact. Elon and Tesla were at the forefront of this criticism. Despite this, Tesla held bitcoin but sold it to the market later on. This news will have a positive impact throughout the industry, and companies like Tesla are likely to come to the market again as, as Elon previously mentioned, Tesla will accept bitcoin when miners reach the 50% clean energy mark. This will be a major boost for the bitcoin industry.

Institutional investors are mostly concerned about the environmental impact of bitcoin mining. This opens a path for institutional investors to come onboard.

Environmental issues and the impact of bitcoin will always cause some misunderstandings. Looking back at all the criticism not only from Tesla or Elon Musk, we have also seen many similar debates. on one's own. Like raising cattle, it also produces tons of carbon emissions many times greater than modern industrial machinery, but do people really criticize it? I think everyone will figure it out for themselves get that story.

Regarding the fact that large organizations are interested in bitcoin in many different ways, the way they promote or limit it is similar to some people who want to manipulate prices to make profits in this market, even with Elon Musk whom I also quite like, but frankly his actions with bitcoin are just like someone who wants to redeem himself to gain profit through his own influence. So looking at the problem based on the information being spread, we don't really understand the nature and only like to judge, that is the way to direct the thinking of the crowd that influential people want to interfere with, and in the end it boils down to it is also only a small part compared to the development of bitcoin.

[slapper]

Miners of Bitcoin have now at last achieved the 50% clean energy mark, or the golden ratio. You know, back when everyone was all riled up about how "dirty" Bitcoin was? when Elon took the helm of Tesla and took the brunt of the criticism? How fast things change. It's rather... foreseeable. Now that the roles have reversed, I wouldn't be shocked to see a big comeback from companies like Tesla and others that left the market. An even more alluring sight is the institutional investors' stare. They have been observing the area warily, anticipating the ideal opportunity. It's presented here on a silver platter. What interests me, though, is to see what they'll do next. Will they dive right in or hesitate in fear? I am eager to see the next

[davis196]

This news will have a positive impact throughout the industry, and companies like Tesla are likely to come to the market again as, as Elon previously mentioned, Tesla will accept bitcoin when miners reach the 50% clean energy mark. This will be a major boost for the bitcoin industry.

Institutional investors are mostly concerned about the environmental impact of bitcoin mining. This opens a path for institutional investors to come onboard.

Do you really believe that Elon Musk is going to keep his promise about the "50% mining from clean energy"? I don't think so.
There's always something to criticize about Bitcoin/blockchain/BTC mining. First it was the "environmental pollution" coming from Bitcoin miners. As if all the banks and fiat payment system are using 100% clean energy. The fiat bank/payment systems use energy produced by coal power plants, but nobody is blaming them for this.
Other points where BTC can be criticized are the scalability issue and the volatile nature of Bitcoin. I'm sure that Tesla and the big institutional investors will refuse to buy BTC because of those two main issues of BTC.

[Porfirii]

When you want to talk about criticism toward Bitcoin, you need to deal with it by visiting this thread Knowledge to help you argue with bitcoin critics

Bitcoin mining do consume energy, but it's not big and they already use clean energy. Just close your eyes when institutional entity or someone that self pro claimed to be Bitcoin specialist talk about this particular thing.

They're trying to destroy Bitcoin, if they talk about mining consuming energy, money laundering, bubble/tulip mania, etc, they're uneducated people.

You're right, Helena. I believe in climate change so I think that it is necessary to make good decisions to stop our impact asap. But when pseudo-philantropists say that Bitcoin is bad because of all the things you mentioned, although those things are true to some extent, IMO they don't pose a great risk and, of course, the intrinsic benefits are much bigger. Cars pollute, banks and fiat are used for money laundering, but those are not, at least for now, reasonable reasons to stop using them. Bitcoin has minimal impact in comparison: why are these reasons good in this case, and not the others?

[DeathAngel]

Clean energy bitcoin mining such as solar or wind power is now far more prevalent than in previous years probably due to the constant FUD & criticism by MSM. We even now have El Salvador using volcanic energy to mine. Clean energy mining aims to reduce the environmental impact of cryptocurrency mining which traditionally relied on fossil fuels which contributes to carbon emissions. Clean energy bitcoin mining helps mitigate the ecological footprint of the cryptocurrency industry making it more sustainable & aligned with the global transition towards renewable energy. By utilising clean energy sources it promotes a greener future & supports the development of sustainable technologies.

[yudi09]

-snip-

IMO, criticize an action that can push something in a better direction. Criticism is an action that shows concern for an object. In my opinion, criticism is normal and normal, including criticism made against Bitcoin. The groups that continue to criticize bitcoin are the ones who are making bitcoin even more famous.
What is worrying is that when criticism no longer occurs, at that time we will not know where the shortcomings need to be corrected.

It is not surprising that many parties always see the bad side of bitcoin activities. If it doesn't work on one side, they will look for another side that can convince people that Bitcoin is really bad. The result is that more and more people want to adopt bitcoin.
Elon Musk has long said that there are other coins that are better than bitcoin. Others including many governments continue to reject and ban bitcoin. The result is that bitcoin is still there and activity continues without stopping.

The impact on the environment is greater from large companies that do not stop operating. It's not seen as it is seen by those who hate bitcoin would say bitcoin consumes too much energy.

[icalical]

Is this one of the reason why we see some small price increase in bitcoin lately?

Well, if we want to be honest, we need to accept that the negative sentiment regarding bitcoin demanding energy and carbon footprint, has been of the reason why people campaigning against Bitcoin, and it could be affecting the price. Not to mention that many countries especially in Europe has put more of their focus on climate issue, so Bitcoin moving to more sustainable energy should make people have a better perception of bitcoin.

[safar1980]

Clean energy bitcoin mining such as solar or wind power is now far more prevalent than in previous years probably due to the constant FUD & criticism by MSM. We even now have El Salvador using volcanic energy to mine. Clean energy mining aims to reduce the environmental impact of cryptocurrency mining which traditionally relied on fossil fuels which contributes to carbon emissions. Clean energy bitcoin mining helps mitigate the ecological footprint of the cryptocurrency industry making it more sustainable & aligned with the global transition towards renewable energy. By utilising clean energy sources it promotes a greener future & supports the development of sustainable technologies.

Russia has the 2nd place in the world in mining, but for mining it mainly uses electricity from hydroelectric power stations.
Everyone believes that hydropower is safe electricity and its production does not emit harmful pollutants into the air, but the construction of powerful hydroelectric power plants has other negative environmental and social consequences.

[uneng]

Forget about pleasing adepts of political correctness and hypocritical people in general. There will be always complaints about Bitcoin, if that is their primarly goal. They don't like Bitcoin or Bitcoin isn't part of their personal interests, so the rage will continue going on against the digital currency, just through another arguments.

Let's say Bitcoin were fully mined with green energy (100%): then they would start complaining, why are you wasting so much green energy on this ponzi scheme, while you could be supplying poor nations around the world, or replacing fossil fuel consumption in several countries?

The problem isn't fossil fuel, clean energy or mining. The problem for those people is Bitcoin and the fact they don't have total control over it. Include Elon Musk on this.

[coolcoinz]

Is this one of the reason why we see some small price increase in bitcoin lately?

Well, if we want to be honest, we need to accept that the negative sentiment regarding bitcoin demanding energy and carbon footprint, has been of the reason why people campaigning against Bitcoin, and it could be affecting the price. Not to mention that many countries especially in Europe has put more of their focus on climate issue, so Bitcoin moving to more sustainable energy should make people have a better perception of bitcoin.

An small increase following a larger decrease is still negative. We went from 30k to 25 and then back to 27- that's bearish until we get back to 30.
We could say this is normal price action before the halving. Bitcoin usually goes sideways until after the halving and it can experience large drops in this period, even though the bottom is in.
I'm not a speculator so I don't care about people who draw lines in the sand saying this is the resistance that needs to be broken for us to go up, but bitcoin is clearly held by people who understand it, which stops it from crashing, but also not being bought by the "street" that usually pumps the price, which is why we're sitting stable between 20 and 30k. I expect this to change by the end of the year when people really feel the halving getting close.

Musk isn't going to do anything. He's an attention seeker so expect him to tease you and then change his mind and give you nothing.

[usekevin]

Is there any government that is like that though? As far as I know, some governments who use renewable energy only supplies it in limited amount. At least in developing countries. I might be wrong but I remember reading news about how some miners are blocked by electricity companies even though they use wind to generate energy due to how demanding it is.

I guess miners who have the capital would rather build their own electricity supply instead of relying on government/centralized electricity companies that prioritize regular customers. Some miners might be able to claim that their activity is similar to other businesses, but then their profit might be affected too since their rates can be higher than the norm. CMIIW.

The miners should ready to spend some money for the electricity to do the mining.Because mining also like the trading,you need to inverse some money for the setup.Then you need to spend some money on every month for the electricity,by this you can get some valuable coin which you set up for mining.In some countries the mining was banned and some countries the government ban the mining setup by finding the enormous electricity using point using their application of power consuming.Blaming of bitcoin mining was the convective concept.

[Unbunplease]

In fact, the share of energy used for mining is very small in total consumption. The government is just making a big deal out of it. Let them stop their more dangerous military programs. They just want to tax the miners heavily so no one can hide. This is unfair game.

[BitcoinTurk]

Bitcoin does not need Elon Musk. He should fuck off.

Elon Musk only manipulated for people to leave bitcoin for doge. That man will not accept bitcoin for anything, his mission is doge.

After he stopped payment for bitcoin, bitcoin still later increased and got to all-time-high.

What about Tesla? I do not like Elon because of his unpredictable nature, and he has made positive and negative statements in the past about bitcoin. I do not like any meme projects as well, but a car company like Tesla can be at the forefront of the bitcoin market in the future. They have a large user base and resources to accept bitcoin for their online payments.

Elon has a personality that acts in line with his own popularity and earnings. So, describing Elon as someone who loves Bitcoin is not actually accurate because his love for Bitcoin is only due to the fact that Bitcoin has power in the cryptocurrency market and has the strongest community. So, we can be sure that Elon will choose this option if a different cryptocurrency replaces Bitcoin or has a better community by the time his companies start accepting payments in cryptocurrencies.

I would like to say this about Tesla;

Tesla is the leading company in the electric vehicle industry and still produces very successful models today. Although, it is theoretically an environmentally friendly automobile company, this isn't actually the case. It isn't necessary for a vehicle to be electric to be environmentally friendly. Although, electric cars produce zero emissions during their use, the emissions generated during the production of these vehicles are several times higher than those of an internal combustion vehicle. In other words, although it is beneficial for the environment during vehicle use unfortunately it is quite harmful to the environment during its production. Of course, in the long term this emission difference can be amortized and be more beneficial for the environment but it is necessary to know that not everything is as innocent as it seems.

[Captain Corporate]

To be fair the arguments are usually about "that clean energy could be created either way, we could use it for something else" and that is valid but why make it go down from crypto mining and not something else? Its not about how it was created because how it was created is already done process, its created already, we are spending it with crypto mining and there are places and organizations that expect us to not use it this way, I feel like they are overlooking the fact that this helps people out, we should cut energy spending from somewhere else instead. This is why I do not completely understand the whole process and the idea behind cutting down on crypto mining energy spending.

[DVlog]

Bitcoin does not need Elon Musk. He should fuck off.

Elon Musk only manipulated for people to leave bitcoin for doge. That man will not accept bitcoin for anything, his mission is doge.

After he stopped payment for bitcoin, bitcoin still later increased and got to all-time-high.

What about Tesla? I do not like Elon because of his unpredictable nature, and he has made positive and negative statements in the past about bitcoin. I do not like any meme projects as well, but a car company like Tesla can be at the forefront of the bitcoin market in the future. They have a large user base and resources to accept bitcoin for their online payments.

Elon has a personality that acts in line with his own popularity and earnings. So, describing Elon as someone who loves Bitcoin is not actually accurate because his love for Bitcoin is only due to the fact that Bitcoin has power in the cryptocurrency market and has the strongest community. So, we can be sure that Elon will choose this option if a different cryptocurrency replaces Bitcoin or has a better community by the time his companies start accepting payments in cryptocurrencies.

I would like to say this about Tesla;

Tesla is the leading company in the electric vehicle industry and still produces very successful models today. Although, it is theoretically an environmentally friendly automobile company, this isn't actually the case. It isn't necessary for a vehicle to be electric to be environmentally friendly. Although, electric cars produce zero emissions during their use, the emissions generated during the production of these vehicles are several times higher than those of an internal combustion vehicle. In other words, although it is beneficial for the environment during vehicle use unfortunately it is quite harmful to the environment during its production. Of course, in the long term this emission difference can be amortized and be more beneficial for the environment but it is necessary to know that not everything is as innocent as it seems.

You might be right about your information about Tesla, but they are known for their contribution to the renewable energy sector. Technology is moving forward, and scientists are looking for a possible alternative to fossil fuels. Tesla can be a leading company in this sector in the search for better options for renewable energy. In the coming decade, the government can ban using coal as an energy source and push forward the use of renewable energy, so if Tesla adds bitcoin as a payment option, it will open the path for other similar companies to use it as well.

[bitgolden]

When you want to talk about criticism toward Bitcoin, you need to deal with it by visiting this thread Knowledge to help you argue with bitcoin critics

Bitcoin mining do consume energy, but it's not big and they already use clean energy. Just close your eyes when institutional entity or someone that self pro claimed to be Bitcoin specialist talk about this particular thing.

They're trying to destroy Bitcoin, if they talk about mining consuming energy, money laundering, bubble/tulip mania, etc, they're uneducated people.

This is so obvious to people who actually know the situation but that doesn't mean that we are going to end up with a result like that at all. We need to realize that bitcoin is still not known in detail by so many people, even the ones who has heard the name bitcoin, do not know much information regarding it, and when a news station talks about how much it uses, they believe them because they do not have the better judgement to research it themselves.

This is why the ones who know, like you and me, we know that it is tiny compared to most other stuff and mostly clean, whereas the ones who do not know would fall victim to fake news and misinformation because they do not care enough to go do their research on the subject.

[SamReomo]

This is so obvious to people who actually know the situation but that doesn't mean that we are going to end up with a result like that at all. We need to realize that bitcoin is still not known in detail by so many people, even the ones who has heard the name bitcoin, do not know much information regarding it, and when a news station talks about how much it uses, they believe them because they do not have the better judgement to research it themselves.

This is why the ones who know, like you and me, we know that it is tiny compared to most other stuff and mostly clean, whereas the ones who do not know would fall victim to fake news and misinformation because they do not care enough to go do their research on the subject.

That's why people say that media is the king because whatever media says people blindly trust that and even if they promote fake news people will trust that news. Most of the people these days don't really do their own research and they accept whatever they hear from those media sources, and the worst thing is that the same people promote the things they heard from those media channels to other people and promote such misinformation.

We Bitcoin users know that Bitcoin mining does require energy and we also know that most of the miners and mining farms are using clean energy for the purpose of Bitcoin mining but who listen to us? They listen to only media channels and believe trust words without question. Surely, the ones who do their own research are well aware of the fact that Bitcoin mining consumes not so much energy out of global electricity production, and it's actually consuming the energy from clean energy sources mostly.

[philipma1957]

This is so obvious to people who actually know the situation but that doesn't mean that we are going to end up with a result like that at all. We need to realize that bitcoin is still not known in detail by so many people, even the ones who has heard the name bitcoin, do not know much information regarding it, and when a news station talks about how much it uses, they believe them because they do not have the better judgement to research it themselves.

This is why the ones who know, like you and me, we know that it is tiny compared to most other stuff and mostly clean, whereas the ones who do not know would fall victim to fake news and misinformation because they do not care enough to go do their research on the subject.

That's why people say that media is the king because whatever media says people blindly trust that and even if they promote fake news people will trust that news. Most of the people these days don't really do their own research and they accept whatever they hear from those media sources, and the worst thing is that the same people promote the things they heard from those media channels to other people and promote such misinformation.

We Bitcoin users know that Bitcoin mining does require energy and we also know that most of the miners and mining farms are using clean energy for the purpose of Bitcoin mining but who listen to us? They listen to only media channels and believe trust words without question. Surely, the ones who do their own research are well aware of the fact that Bitcoin mining consumes not so much energy out of global electricity production, and it's actually consuming the energy from clean energy sources mostly.

we have over 1000 solar panels in our mining locations. we generate close to 2 megawatts daily in solar energy. we are New Jersey based and are always looking for new and better mining locations here in NJ,USA or even in PA,USA