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Author Topic: Limitations or scalability issues with the Bitcoin network  (Read 237 times)
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February 11, 2024, 06:57:50 AM
 #21

People are the problem themselves. The world has been the hottest this year while bitcoin miners are producing less carbon dioxide than what critics depicted about bitcoin in comparison with the total gases release to the environment that can cause global warming from tiger human activities. The reason the world is getting warmer day after day is not because of bitcoin mining but because of how the world are generating electricity, industrial chemicals released to the environment, deforestation and transport emissions of the gasses that can cause global warming.
Well, tell that to the industrialists that are profiting off the destruction of the environment, that's probably the only way that they can make money and they don't have any kind of plans to ever go sustainable despite them telling you that they'll do it eventually. I feel like a lot of media outlets have stopped blaming bitcoin mining though, I haven't seen a lot of big news stories in a while about the climate change and the global warming being attributed to the mining operations. Also we can't really all directly challenge these big polluters of the environment because doing so would disrupt global trade and since there's a lot of products that are reproduced in those countries, the price of goods will definitely be skyrocketing, of course I'm talking about China.



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February 11, 2024, 07:12:44 AM
 #22

One of the main challenges is the transaction processing capacity. Currently, the Bitcoin network can handle a limited number of transactions per second, which can result in delays and higher fees during periods of high demand. This limitation has led to the development of solutions like the Lightning Network, which aims to improve scalability by enabling faster and cheaper off-chain transactions. Another challenge is the environmental impact of Bitcoin mining. The process of mining requires a significant amount of computational power and energy consumption, which can have negative implications for the environment. However, it's important to note that the Bitcoin community is continuously working on addressing these challenges to enhance the network's scalability and overall performance.what do you think?

OP, why do I feel that your generic forum post has been copied from somewhere?
The so called "environmental impact" of BTC mining has nothing to do with BTC mining. The BTC miners cannot be blamed for consuming electricity, which is was produced by burning coal. The "negative environmental impact" of BTC mining would be zero, if all BTC miners start buying and consuming "green energy" only. Green energy is getting cheaper year after year.
Yes, the BTC blockchain can't handle the same amount of transactions as the fiat payment systems. And so what? Bitcoin will keep serving as a "digital gold" rather than a digital currency. I don't see this as a problem. You have alternatives. Use them instead of BTC.

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February 11, 2024, 08:37:41 AM
 #23

The so called "environmental impact" of BTC mining has nothing to do with BTC mining. The BTC miners cannot be blamed for consuming electricity, which is was produced by burning coal.
i would suggest to clarify, miners that just use grid electric cannot be blamed.. instead its the power plants allowed to be on the grid that are to be blamed. grid users have no voting rights of the grid, they are just receivers/customers

but if there are a couple asic farm that bought land that has its own fossil fuel generators(on-site) then they can be blamed for purposefully using fossil generated electric. thy chose to buy fossil power plants as their source.. emphasis only a few asic farms. not a majority

most asic farms however actually have previously set up their asic farms in zones known to be powered by green energy(hydro, nuclear) so many do try to avoid fossil zone power that goes to the grid, although it does require asic farms moving to these prefered zones.

in short people mining from home states, where they cant afford the extra effort for moving to greener zones cant be blamed, but those that can afford to move to greener zones should be applauded for that effort

The "negative environmental impact" of BTC mining would be zero, if all BTC miners start buying and consuming "green energy" only. Green energy is getting cheaper year after year.
Yes, the BTC blockchain can't handle the same amount of transactions as the fiat payment systems. And so what? Bitcoin will keep serving as a "digital gold" rather than a digital currency. I don't see this as a problem. You have alternatives. Use them instead of BTC.

green energy has huge initial infrastructure costs to have power plants that are effective at covering future growth demands for decades. and so have alot of untapped excess initially yet to be used, but available to cover the progress of population growth over decades.

by asic farms tapping into this excess means it helps fund that initial infrastructure earlier than expected, thus reducing the cost over time. so by allowing asics to take up this untapped excess helps not just the environment, but the progress of expanding greener energy and making it cheaper for other too sooner

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February 11, 2024, 06:07:20 PM
 #24

However, it's important to note that the Bitcoin community is continuously working on addressing these challenges to enhance the network's scalability and overall performance.what do you think?
Bitcoin community is not actively working on addressing these challenges, we couldn't even deal with the simplest problem, to kill bitcoin ordinals. There is a bug in the code that allows people to create NFTs on Bitcoin blockchain and it skyrocketed fees.
I think that Bitcoin Community is very conservative, if we don't fix that, then we aren't going to be a competitive in the near future because Bitcoin today has many limitation for widespread usage. So, I don't agree with your opinion, community is very shy to talk about problems but it needs to be fixed.

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February 11, 2024, 09:20:18 PM
 #25

   Bitcoin scalability is the lowest amount at which Bitcoin network is being able to manage and control large quantity of transaction data within a short period of time on its platform,it is associated with the records of Bitcoin blockchain which are  limited in size and frequency , the Bitcoin network has the transaction in the block when it has been verified, and verification has to take place in the decentralized system among each node for every transaction.
    Only few numbers of transaction within a short period of time that the Bitcoin network can process like one block . The reduction of the block size acts significantly on Bitcoin scalability, because it will be made known the maximum quantity of data which will be added in  a single block and when you increase the size of the block limit can make the transaction better throughput and reduce congestion but also make the storage to be high and need the capacity  for data transfer on an electronic communication to run a full node.

   The scalability of Bitcoin challenge comes as the network increase and deals with more transaction giving rise to higher fees.
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February 12, 2024, 09:41:33 AM
 #26

Environmental impact is not an issue that requires an immediate solution, it has just been made and shown as a big problem by the governments and authorities because they don't want Bitcoin to prosper and grow, so they will do their best to stop the adoption and development of it. Otherwise, there are bigger industries than this, and they use way more computational power and consume way more energy than the Bitcoin network but they are never mentioned.

So, the issue that is mentioned on every forum and spread everywhere by officials and government institutions, it is not an issue but it has been made an issue just to make the general public think that Bitcoin is creating problems for the world or the environment or that it's affecting ozone layer, etc.

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