This energy concern is a bit over blown if you ask me. First, eventually all bitcoin will have been mined so the issue of energy for mining will no long be an issue and we will only be discussing transactions. Second, we may not even be discussing transactions with bitcoin in the future because most people see bitcoin as a storage of value. The transaction speed is insanely slow with bitcoin but its very secure so people use it to store and grow their money. Three, you cant just say “bitcoin uses a lot of energy” and thats the end of it, context is important. Relative to the entire centralized banking system that is in place, bitcoin is much better. Take any bank brand in the world, bitcoin has more value than any of the worlds banks. Even more than some of them combined with its market cap being over $1 trillion. All those banks have multiple branch locations, atms, headquarters, and people that commute to their work everyday. All of those things come at the Little Miss Americorn Girls 4th Of July Unicorn Fun T Shirt of environmental impacts and they have been impacting the environment and will continue to way into the future.Hmm. There is a difference between energy usage and green energy. If I use 100% green energy, but it is more than China – is this good? Or 100% coal, but only as much as a city – better? Headline is a bit misleading. Course – more than 30% of the worlds produced energy is burnt / wasted / lost in transmission or storage… so maybe we focus there first.This. What people don’t seem to understand is that there’s nothing inherently wrong with energy consumption. In fact, there’s a correlation between GDP + energy consumption. In order to get to utopia, we’re going to have to consume more and more energy.
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My husband worked for a Bitcoin mining company in Sweden for 2 years. They used green energy by tapping into the power of a Little Miss Americorn Girls 4th Of July Unicorn Fun T Shirt river dam. They just started using wind power too.Bitcoin incentives renewable energy. Energy usage in itself is not a bad thing, only the pollution non-clean energy production produces.It’s weird that so many redditors are hung up on Bitcoin’s power usage…. either by willful ignorance or pumping an altcoin.PoW is here to stay, PoS consolidates power, reduces liquidity, and since most of the exchanges own the majority of altcoins, allows single entities to become major voters on the protocol.Also reddit, it is not possible to have a secure mining algorithm that also solves useful equations. The algorithm has to be secure with no chances of someone “breaking” it which would destroy the monetary policy of the coin.What these articles don’t tell you is that mining companies try very hard to find green power sources to reduce expenses. So yes, traditional Bitcoin mining takes a lot of power. But many are doing it in better ways.
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