Bitcoin could kill Paris Agreement on Climate Change.

[JonesBones]

Old subject but new study. Massive resources wasted on this garbage.

A study published in Energy Research & Social Science warns that failure to lower the energy use by Bitcoin and similar Blockchain designs may prevent nations from reaching their climate change mitigation obligations under the Paris Agreement.

Read more at: https://phys.org/news/2018-07-energy-intensive-bitcoin-transactions-pose-environmental.html#jCp

Putting this into perspective, Dr. Truby said, "the processes involved in a single Bitcoin transaction could provide electricity to a British home for a month—with the environmental costs socialized for private benefit.

 

[bobgeese]

Good, it was a shitty plan denounced by both sides.

 

[Gunny]

Boy, that sounds like a whole lot of bullshit - and does nothing to dissuade those inclined to think climate policies are being abused to sneak financial controls through the back door.

 

[HockeyBjj]

Wait, what? They’re claiming the algorithm to create bitcoins is so intense it’s holding an entire super computer hostage?

There is no way a system like that would get off the ground when Bitcoin first started getting traded

 

[Headkicktoleg]

Wait, what? They’re claiming the algorithm to create bitcoins is so intense it’s holding an entire super computer hostage?

There is no way a system like that would get off the ground when Bitcoin first started getting traded

It becomes harder and harder to mine bitcoin the more is out there. It started off very easy.

 

[Orgasmo]

Blockchain technology could be revolutionary, but the offshoot coins and tokens are worthless.

 

[snakedafunky]

How about instead of mining Bitcoins we just start minning clean Bitcoins?
Works great with coal.

 

[HunterSdVa29]

I thought they were like building servers in ice mountains and caves or some ish

at least that's what the horrible YT commercials I see say.....

 

[Fugazy]

I dont buy it.

 

[xcvbn]

Bitcoin and to a lesser extent Ethereum are very inefficient, but this is the cost to having decentralization and security.

However, Ethereum is in major development to improve efficiency to the level of Visa and beyond. It's the #1 problem facing blockchain technology and they're well aware.

 

[Long Dark Blues]

But what about my 6000 xrp that I got for a fraction of a cent each?!

 

[Cubo de Sangre]

Good time to invest in solar now?

 

[Deleted member 185048]

Yes mining is extremely wasteful. Luckily there are new crypto methods being developed which promise an end to mining and thus wasteful energy consumption while maintaining the same security of Bitcoin.

"Nano" is the leader in this aspect. Best part about Nano? Zero transaction fees (always) and a focus on decentralization (although this currency has a long way to go in this aspect, as do all crypto currencies)

If Nano can prove the security is on par with Bitcoin, it can do very well in the future...

 

[Deleted member 185048]

But what about my 6000 xrp that I got for a fraction of a cent each?!

Maybe you should sell that shit lol

 

[7437]

But what about my 6000 xrp that I got for a fraction of a cent each?!

My dogecoin holds value nicely