Post A3MblpVMU5GfIDV3s8 by veetipitko@bitcoinhackers.org
(DIR) More posts by veetipitko@bitcoinhackers.org
(DIR) Post #A3MblpVMU5GfIDV3s8 by veetipitko@bitcoinhackers.org
2021-01-18T13:45:54Z
0 likes, 0 repeats
#Bitcoin's energy consumption FUD is baseless. There's no issue with energy consumption in the world; the consumption itself isn't the cause of CO2 emissions. Rather, the issue is with asymmetric and uneven energy consumption v. production. THREAD 1/10
(DIR) Post #A3MbmLByfgmBZMg26K by veetipitko@bitcoinhackers.org
2021-01-18T13:46:02Z
0 likes, 0 repeats
Simply put, people don't live in places where most energy could be produced. There's nearly an infinite amount of unharvested, emission-free energy to be produced and consumed but that isn't being done because people don't live there; Sahara, oceans, Earth's core, and space. 2/10
(DIR) Post #A3Mbn7oxs2U0OBHqXA by veetipitko@bitcoinhackers.org
2021-01-18T13:46:10Z
0 likes, 0 repeats
This leads to the need of having to consume fossil fuels, uranium and unproductive renewables. They all cause relatively high emissions. There's a more important side note the FUDsters miss: the supply-and-demand dictates such consumption will always be relatively expensive.3/10
(DIR) Post #A3MbnzLOsAv6O7rzwu by veetipitko@bitcoinhackers.org
2021-01-18T13:46:20Z
0 likes, 0 repeats
Bitcoin is the game changer. Bitcoin mining will always keep finding cheaper and cheaper energy sources. Eventually, it will find its way to the sources that are yet to be harvested - like the oceans, Sahara, Earth's core, space. 4/10
(DIR) Post #A3MboouFAO5wIxZ2q8 by veetipitko@bitcoinhackers.org
2021-01-18T13:46:29Z
0 likes, 0 repeats
There's an additional beauty in Bitcoin mining - the Bitcoin mining rigs don't need to be close to populated areas unlike factories or most data centers do. This enables mining in places where people don't live, like in the middle of the Atlantic or in the space. 5/10
(DIR) Post #A3MbpctFKN0RKLTxE8 by veetipitko@bitcoinhackers.org
2021-01-18T13:46:37Z
0 likes, 0 repeats
Actually, Bitcoin mining will help the fight against the global warming. Bitcoin miners will build infrastructure to produce and consume such yet-unharvested energy and, eventually, it will attract other consumption to move there which decreases global CO2 emissions. 6/10
(DIR) Post #A3MbqTy1zJKDwX81Xk by veetipitko@bitcoinhackers.org
2021-01-18T13:46:47Z
0 likes, 0 repeats
Why hasn't this happened yet? 1) It IS happening and Bitcoin is nowadays mostly mined on renewable sources. 2) Bitcoin's value has yet to stabilize (which will happen when Bitcoin has taken over the world) and bullruns make mining Bitcoin on expensive sources profitable. 7/10
(DIR) Post #A3MbrBUo9K5qwdnJ6O by veetipitko@bitcoinhackers.org
2021-01-18T13:46:54Z
0 likes, 0 repeats
3) Governments, like that of Iran, subsidy fossil fuel consumption which makes mining using oil very cheap. 4) Bitcoin is still very young. - Give it a few decades, and all these will be fixed. 8/10
(DIR) Post #A3MbrrcNXZ6ZaHewjY by veetipitko@bitcoinhackers.org
2021-01-18T13:47:02Z
0 likes, 0 repeats
The central banking is very polluting; the banking infrastructure causes a lot more CO2 than Bitcoin does, but also the fiat money enables and is backed by armies. It might very well be that Bitcoin will never cause more CO2 emissions than the US army alone causes now. 9/10
(DIR) Post #A3MbsapNS5Eznd5Sk4 by veetipitko@bitcoinhackers.org
2021-01-18T13:47:10Z
0 likes, 0 repeats
Bitcoin mining will never be fully emission-free, but it will reduce global CO2 emissions caused by the modern fiat standard and many other energy-intense businesses. 10/10