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HOW BIG IS BITCOIN'S CARBON FOOTPRINT?

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Tesla chief Elon Musk's sudden comeback to accepting bitcoin to buy his electric car has driven the power of cryptocurrency Into the headlightsSome Tesla investors, along with environmentalists, have been increasingly focused on how to "mine" bitcoin using massive amounts of electricity produced with fossil fuels.Musk said on Wednesday that he supported the concern, especially the use of "Coal with the worst emissions"

 

How dirty is virtual currency?

 

Hungry for power

 

Unlike most traditional currencies, bitcoin is virtual and is not made of paper or plastic or even metal. Bitcoin is virtual. But it consumes a lot of energy because it is created using powerful computers all over the world.At the current rate, such "mining" bitcoins consume the same amount of energy every year as the Netherlands did in 2019, data from the University of Cambridge and the International Energy Agency show.Some bitcoin proponents know that the existing financial system with millions of employees and air-conditioned office computers consumes a lot of energy.

 

Coal connection


Cryptocurrencies The world's largest (cryptocurrency), which was once an advanced asset class, has become increasingly mainstream as it embraces major US corporations and financials.Increased demand and higher prices mean more miners compete to solve puzzles in the fastest possible time to earn coins using more powerful computers that require more power.Bitcoin was created when powerful computers compete with other machines to solve complex mathematical puzzles - an energy-intensive process that often relies on fossil fuels, especially coal, which is the dirtiest of all.

 

 

Green bitcoin?


Bitcoin production is expected to generate between 22 and 22.9 million metric tons of เกม slotxo carbon dioxide emissions per year, or between the levels produced by Jordan and Sri Lanka, according to a 2019 study in the journal Joule Science.There are more and more efforts in the industry. cryptocurrency To reduce the environmental damage from mining and the fact that big companies entering the crypto market can increase incentives to produce "green bitcoin" using renewable energy.Some sustainability experts say companies can buy carbon credits to offset the impact.And blockchain analytics firm said that theoretically there is a possibility of tracking bitcoin's sources, making it possible for green bitcoin premiums to be charged with government climate change policies. All over the world might as well help.

 

 

Alternative energy


Projects from Canada to Siberia are trying to find ways to wean bitcoin mining away from fossil fuels, such as using energy, water, or at least to reduce carbon emissions and make the currency a hit for mainstream investors.Some people are trying to recycle the heat generated by mining to support agriculture, heat and other needs, while others are using the energy generated by flame gas, a common by-product of oil extraction. Will be burned - for crypto mining China in crisisThe dominance of Chinese miners and the lack of incentives to exchange cheap fossil fuels for more expensive renewables means that few times the issue of bitcoin is rapidly being solved, some industry players and academics. Warning people Chinese miners account for about 70 percent of the production, data from the University of Cambridge Center for Alternative Finance showed. They tend to use renewable energy, mostly hydro, during rainy summer. But fossil fuels - coal are the main ones for the rest of the year.

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Hi Kaffa, Bitcoin is still growing and you can use it in many ways. I personally use it for trading and thanks to it I make too much money, when I was starting this page helped me http://usforexbrokers.com/ made my life a little bit easier as a trader, now I know many things about it like brokers, tips and even more. Nice post man.

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