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Discussion Effects on climate from bitcoin

iDJ

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A single bitcoin transaction generates the same amount of electronic waste as throwing two iPhones in the bin, according to a new analysis by economists from the Dutch central bank and MIT.

While the carbon footprint of bitcoin is well studied, less attention has been paid to the vast churn in computer hardware that the cryptocurrency incentivises. Specialised computer chips called ASICs are sold with no other purpose than to run the algorithms that secure the bitcoin network, a process called mining that rewards those who partake with bitcoin payouts. But because only the newest chips are power-efficient enough to mine profitably, effective miners need to constantly replace their ASICs with newer, more powerful ones.

 

ashwink

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I don't know how
Bitcoin is digital and how e waste produced by them?
 

U999X0D

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If a single Bitcoin transaction generated waste like that, then good luck trying to find out the waste generated by the banking system of the entire world in a second...
 
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iDJ

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If a single Bitcoin transaction generated waste like that, then good luck trying to find out the waste generated by the banking system of the entire world in a second...
Banking system is necessary for world economy. We don't need some anonymous currency like bitcoin used mostly to fund terrorism and other illegal activities.

 

U999X0D

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We don't need some anonymous currency like bitcoin used mostly to fund terrorism and other illegal activities.
Well on that topic, USD is used for terrorism activities 10x more than Bitcoin 😂😂😂. Just because selective information against Bitcoin is put up by USD sponsored media like NYT and Informer doesn't mean USD is any good..

All I'll say is be prepared for the great reset. USD is losing its value faster than ever before because of money printing that's happening faster than ever before..
 

iDJ

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Well on that topic, USD is used for terrorism activities 10x more than Bitcoin 😂😂😂. Just because selective information against Bitcoin is put up by USD sponsored media like NYT and Informer doesn't mean USD is any good..

All I'll say is be prepared for the great reset. USD is losing its value faster than ever before because of money printing that's happening faster than ever before..
USD can be traceable. Bitcoins aren't.
 

amty

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many crypto currencies work on blockchain which is safe and secure and yes they dont produce waste.....its just a hype printing notes also produces waste...eg paper waste mand we all know how paper is produced
 

Detective Conan

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unnecessary mining needs to be stopped or they to need to focus on utilizing more energy efficient way of using blockchain tech for cryptocurrency. bit coin aren't bad but the way they are excessively mined using energy intensive method is indeed harmful to environment
 
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