Does Bitcoin Endanger Our Environment?
This Question may be answered with a YES or NO, depending on the standpoint you´re taking in this debate. There are very good points to be brought up for either side and I want to state upfront that I´ve still not decided for one of them, so that I´d appreciate your honest opinions in the comments 😉
But let´s take a look on the arguments I´ve found so far and value as the most important. On the side of those denying an environmental Impact of Bitcoin mining we may take a closer look on the energy consumption of current assets like for the production of fiat currencies or gold mining. The Cointelegraph actually outlined this huge difference very nicely so that there´s nothing more to add from my side.
Anyways, on the other side this Chart shows us another Power usage of more than 8.27 TWh, which is more than many small countries need in a whole year... That being said while knowing all the other less power consuming technologies out there, like e.g. POS, it´s definitely possible to argue that the Power for Bitcoin Mining is used unnecessary and hence a huge environmental impact.
Conclusion / My Current Opinion!
Please convince me otherwise in case you think I´m wrong. At the very moment I don´t see Bitcoin Mining as an environmental impact but I definitely do in case it should continue to grow exponentially just like it did this year. Of course it´s an amazing new technology and will definitely play a huge role in our future but let´s be honest we should really look after our environment and therefore more energy savvy solutions should be chosen over others.
I mean, take a look at the Steem Blockchain. It doesn´t need a lot of energy to be kept running and it´s even more capable in regards to transactions, etc. than Bitcoin and all its forks together. I´m really curious therefore on what the future holds for us.
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