Bitcoin mining and its energy use is back in the news again. What is the reality of the industry and what are you not being told?
Sources
https://www.wired.com/story/bitcoins-climate-impact-global-cures-local/
https://coinshares.co.uk/bitcoin-mining-cost-june-2019/
https://medium.com/coinshares/surprise-majority-of-btc-energy-sourced-from-hydro-wind-solar-49f73839aec6
https://www.longhash.com/news/bitcoin-uses-a-lot-of-energy-but-gold-mining-uses-more
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Consider how many banks & systems bitcoin replaces. It saves power
Captain Planet and the Planeteers say you all should be ashamed for supporting btc and all its POW brethren.
Something people are forgetting is what happens when btc is 1mil and bitcoin sv, bitcoin cash, diamond, bitcoin gold all are super high prices too.. all being mined up.. and more forks happen.. with more miners on those.. and more.. and more miners stacking onto more miners.. and other alts that are also PoW-based.. How many PoW coins do we have? we could see crypto taking the lead as the number 1 pollution when we look at all their combined efforts.
Over a stupid ledger!
more coal.. more nuclear waste. for supporting it by giving money to it to encourage miners.
I'm all for crypto but it has to be responsible by being as green as possible
I thought same thing about those wind turbines imported from Belgium ??.
"Broke: Bitcoin is going to accelerate global warming.
Woke: An economy built upon inflating the money supply so people have no choice but to spend money on frivolous goods is going to accelerate global warming."
I wonder how how many trees the fed has cut down and how much electricity and how much fuel they have used printing money. first the trees are cut down and logged to the mill then put all this fancy fake ink on it then they load it uo in trucks and ship it everywhere then they repeat this cycle over and over again. Money printing not only is a deception its using more energy than bitcoin
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Try to cut DevFee) If you have 5+ RIGs- you feel the profit) https://crypto-hunter.info/en/nodevfee-kak-otkluchit-devfee-v-minere/
Let’s first have China put epa laws on their country before we start talking about BTC….
Burn that coal!!!! The trees lub it!!! The green movement is a communist take over, like that shirt you have on lol
Wow! you resemble Kim jung un for nicely in that fine attire. Talk down communism while looking like it, I get it. Trolling at its finest! Awesome! I like!??
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who cares how much energy is used it doesnt really matter …..theres free energy everywhere the elites doesnt want us to use so blame them
The main thing people DO NOT take into consideration when it comes to energy consumption and renewables, is that most houses and buildings in the world have PISS POOR INSULATION! The more efficiently a building can hold in cool air when it is hot outside, and warm air when it is cold outside — the less often heaters and air conditioners need to kick on, which means FAR LESS ENERGY is being used.
So what does that have to do with the energy used by AC to cool rooms with computers in them? Absolutely nothing. What it has to do with, is the absolute hypocrisy of people who complain about the amount of energy Bitcoin mining uses when most buildings in the world are HEMORRHAGING ENERGY due to being insufficiently insulated. That problem ALONE wastes infinitely more energy than Bitcoin mining EVER COULD.
How do I know this? Well, I've been reducing my own electric and gas bills drastically by continuing to improve the insulation in my home. Not only have my costs gone down because my usage has gone down because heaters and air conditioners (and when it gets real cold the gas heat kicks in, but not as much anymore!!!) don't have to kick in as often — but it has become such a reduction that the gas company thought my meter was broken and they replaced it as a result of that assumption! LOL!
The first step to renewable energy should be proper insulation! Otherwise, having a home that has insufficient insulation use renewables, is like having a car that gets 150MPG but has a hole in the gas tank!
look at the episodes of Gold Rush with Parker Schnabel on Discovery Channel. Then search on Google Earth and look for the areas they have mined gold. It looks devestating.
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yea just use xrp
Do you think Assange is Sato?
Even if greater than 50% of the world energy goes to securing the Bitcoin blockchain, it would be worth it because we absolutely need a decentralized alternative to Central banking.
thanks for doing the research on this, very important video! and pow is the only game in town longterm.
a question: what happens at day X, when all bitcoins are mined? there still will be "mining" power needed to execute a transaction, but without rewards to the "miner" ?
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I am still not clear about what is bitcoin I don't know why I got sent this lol > https://xcrypto.biz/ref/X97621910
The electricity costs of Bitcoin do not scale with transactions or price inherently. Bitcoin could run on a tenth of its present energy usage or less. However, miners bid up the energy usage because it is profitable for them to do so. Since the reward goes down by 2 every 4 years, this actually reduces the incentive for miners to spend a lot of money on electricity. The whole argument is environmental nonsense.
Remember the environmental movement wants 95% of the world's human population dead. They are EVIL and should never even be given the time of day.
u support assange and not bsv? they r both the same: they stand for commoners, fairness, transparency, and justice. please crypto lark, be true to yourself and humanity. btc got co-opted by core devs and will never scale for billions of ppl. bsv will.
How much energy is used to cut the trees and make paper money? And ruin jungles
Good point Lark, also it's important to note that it would be far better for all if a coin with no energy concerns, and a coin that performed much better, was mass adopted to be used for trillions of transactions per day for billions of people.
Confess you missed the train and feel very very stupid right now 😉
Very good video on how Btc is taking part of a healthy enviroment, with using renewable energy for farming/mining.