Bitcoin is worst technology in history

[Lens1000]

I get your points bro....and your points are valid, from those experts point of view. But I just have the notion that Bitcoin's importance outshine it's frivolity. It has pulled many out of poverty and actually enrich them. I know for sure that some of these experts will invest in Bitcoin and they might probably would have made a fortune from it.lol.

Everything in life has disadvantages no matter how good it's!

No one is disputing that . It has make a lot of impact in the lifes of so many people's life. The reason why the expert said so is to call the developers attention to improving the bitcoin. They can upgrade the coin to the latest technology adopted by coins like cardano. It's very important to do that

I think this view is one sided because there are other things that consumes energy as well . The Fiat currency is producers using paper and both paper production and processing consumes energy . Oil exploration , processing and refining consumes energy.
All these criticism about bitcoin are very bias and it is coming from those who are not comfortable that bitcoin is decentralized.

You are right! A recent research by a university in the US showed that the figures released on the power consumed by mining bitcoin is false. They said the conventional banks consumes more energy than mining. The critics are from the disbelievers of bitcoin. They thought that the bitcoin projects will collapse

 

[Lens1000]

My dear friend your laptop is not configured to mine Bitcoin you're only stressing over stretching activities or functionality of your laptop so if your laptop gets very hot or malfunction as a result of Bitcoin mining it doesn't mean it comes in much electricity it's because it's not a mining rig. I will like to see report from experts that claim bitcoin mining consumes more energy.

That's very strange. The electricity consumption during bitcoin mining is what virtually everyone one is aware of globally. But the figures that some experts claimed may be exaggerated , definitely bitcoin mining does consumed a lot of energy. The world's largest base for cryptocurrency mining activities confirmed this.

 

[Ahmedo24]

The experts come with various versions on the issue of the bitcoin mining electricity consumption. I am aware that the bitcoin mining consume a lot of energy . Some months back, I stopped mining bitcoin using my laptop because the heat generated was so enormous and it could crash my system.

My dear friend your laptop is not configured to mine Bitcoin you're only stressing over stretching activities or functionality of your laptop so if your laptop gets very hot or malfunction as a result of Bitcoin mining it doesn't mean it comes in much electricity it's because it's not a mining rig. I will like to see report from experts that claim bitcoin mining consumes more energy.

 

[Lens1000]

If what I have been reading about the excessive energy consumption of mining is detrimental to the power supply of the country then it makes me wonder why people would engage in that commodity. You can do trading in corporate stocks which is legal. Crypto trading is not legal and it consumes too much energy in mining. There should be a stop to that.

What you read on the electricity consumption of the bitcoin mining is true but I am sceptical of the figures of power estimated. The energy consumption is evident during mining, as it generates excessive heat that could destroy the PC's hardware. I stopped mining bitcoin on my PC when I noticed this

 

[Lens1000]

There are people who are in support of Bitcoin and they time to see more of the positive aspect of Bitcoin and also managed to analyse the negative aspect of Bitcoin why there are people who are totally against Bitcoin and use every means to criticize bitcoin to the fullest. Everyone is entitled to his opinion and I believe that few years ago there were strong critics of Bitcoin in which today they are investing heavily in it so let this people keep criticizing Bitcoin till they eventually adopts it.

The experts come with various versions on the issue of the bitcoin mining electricity consumption. I am aware that the bitcoin mining consume a lot of energy . Some months back, I stopped mining bitcoin using my laptop because the heat generated was so enormous and it could crash my system.

 

[Ahmedo24]

If what I have been reading about the excessive energy consumption of mining is detrimental to the power supply of the country then it makes me wonder why people would engage in that commodity. You can do trading in corporate stocks which is legal. Crypto trading is not legal and it consumes too much energy in mining. There should be a stop to that.

Personally I don't think there is huge consumption of energy when mining cryptocurrency but what the Tesla CEO emphasized on was the environmental concern and it was the more reason why he suggested that renewable source of energy can be used to mine bitcoin dollar coin is better than other sources that are not friendly to the environment.

 

[Mika]

When I saw the title, I guessed it was clickbait (I am sorry).
I wouldn't categorize bitcoin as the worst technology. Bitcoin was born out of blockchain technology and today blockchain is used in almost any field. Blockchain has actually revolutionized every sector from finance to health. The energy problem can be esily solved, if renewal energy is used.

 

[Alexandoy]

If what I have been reading about the excessive energy consumption of mining is detrimental to the power supply of the country then it makes me wonder why people would engage in that commodity. You can do trading in corporate stocks which is legal. Crypto trading is not legal and it consumes too much energy in mining. There should be a stop to that.

 

[Ahmedo24]

There are people who are in support of Bitcoin and they time to see more of the positive aspect of Bitcoin and also managed to analyse the negative aspect of Bitcoin why there are people who are totally against Bitcoin and use every means to criticize bitcoin to the fullest. Everyone is entitled to his opinion and I believe that few years ago there were strong critics of Bitcoin in which today they are investing heavily in it so let this people keep criticizing Bitcoin till they eventually adopts it.

 

[Lens1000]

Experts from various fields of technology as described bitcoin as a worst technology in history

Bitcoin consumes more energy per transaction than any other technique known to mankind, so it's not good for the environment.

Calculate the true cost of bitcoin cryptocurrency in terms of energy. The researchers discovered that bitcoin mining consumes more energy per year (130.00 terrawatt hours [TWh]) than the entire country of Argentina (125.03 TWh).

This enormous energy consumption by bitcoin mining have raised a lot of concern over the years

While gold has shown time and time again that it is a resilient form of money, the price of Bitcoin saw the biggest single crash in its history at the beginning of the year. Blockchain-based cryptocurrencies like Bitcoin are volatile, and they lack the necessary components to scale as a global currency and payments platform. The way in which blockchain was designed will ensure it remains so.

Blockchain technology lacks fundamental regulatory guidance and therefore poses a number of risks to crypto holders. Bitcoin was intended to be transparent and decentralized, but as it has grown, the core framework has been augmented with retrofitted capabilities like off-chain transactions — where deals cannot be publicly tracked and don’t actually write transactions to the public ledger when they are made.

Do you believe that bitcoin is a worst technology in human history?

 

[Josemendez]

I think this view is one sided because there are other things that consumes energy as well . The Fiat currency is producers using paper and both paper production and processing consumes energy . Oil exploration , processing and refining consumes energy.
All these criticism about bitcoin are very bias and it is coming from those who are not comfortable that bitcoin is decentralized.

 

[Sherman198]

There is no doubt that bitcoin has paved the way for the development of the digital currency and it popularity is overwhelming. Their is something wrong with the technology of its design. Experts have called on the bitcoin developers to upgrade its technology to conform with the recent development. Some expert cited that the bitcoin is a scrap.

I get your points bro....and your points are valid, from those experts point of view. But I just have the notion that Bitcoin's importance outshine it's frivolity. It has pulled many out of poverty and actually enrich them. I know for sure that some of these experts will invest in Bitcoin and they might probably would have made a fortune from it.lol.

Everything in life has disadvantages no matter how good it's!

 

[Lens1000]

Bitcoin is an innovation that brought something of great importance. It brought an evolution that changes the phase of currency.

From:Silver-Gold-Fiat-Bitcoin(digital currency). I think you can get these trends. The coming of digital currency is unavoidable because it's the era. We just have to accept it. And now countries have been do their own digital currencies,which tells anyone that this is happening already.

As for the mining of Bitcoin that's consuming so much energy, I believe countries will find their ways around it.... Perhaps with Greenfield energy or Renewal energy.

All this will be over soon because I don't think we have so many Bitcoin left to mine.

There is no doubt that bitcoin has paved the way for the development of the digital currency and it popularity is overwhelming. Their is something wrong with the technology of its design. Experts have called on the bitcoin developers to upgrade its technology to conform with the recent development. Some expert cited that the bitcoin is a scrap.

If we truly conside the ecosystem, bitcoin may be the worst technology as observed by the expert. But truth be told, no one even country started minding the effects of bitcoins until the boom started in bitcoin, and that's when countries started having diffrent reasons to frustrate bitcoins. This means, they are painting it black because they have not been gaining from it.

The boom as you have mentioned caused the increase in the mining process and that raises concern on its energy usage. Bill Gate said that bitcoin is a tragedy to mankind. I know that the countries accepting the bitcoin now will look into using a green energy to power the bitcoin mining rig as the president of El Salvador did.

 

[btaliat]

If we truly conside the ecosystem, bitcoin may be the worst technology as observed by the expert. But truth be told, no one even country started minding the effects of bitcoins until the boom started in bitcoin, and that's when countries started having diffrent reasons to frustrate bitcoins. This means, they are painting it black because they have not been gaining from it.

 

[Sherman198]

Bitcoin is an innovation that brought something of great importance. It brought an evolution that changes the phase of currency.

From:Silver-Gold-Fiat-Bitcoin(digital currency). I think you can get these trends. The coming of digital currency is unavoidable because it's the era. We just have to accept it. And now countries have been do their own digital currencies,which tells anyone that this is happening already.

As for the mining of Bitcoin that's consuming so much energy, I believe countries will find their ways around it.... Perhaps with Greenfield energy or Renewal energy.

All this will be over soon because I don't think we have so many Bitcoin left to mine.

 

[Lens1000]

I do not believe that Bitcoin is the "worst" technology because if we consume a lot of energy by mining coins, then it is also possible to create energy, too. People usually earn when they mine coins and they can generate their own energy from the profits they earn. There are many countries where electricity is cheap and I think it would be a better idea to mine coins in those countries and also in countries that produce a lot of energy.

You are right but the context is not how cheap the energy is but how dangerous it is to mankind. There is a call for upgrade of the bitcoin from the investors because its design is archaic. That is the major reason why altcoins are designed. The altcoins are designed to be faster and better than the original version.

I think the expert are more focused on the energy consumption aspect , because when they talk about the importance of bitcoin and the blockchain technology it would be seen as the best technology been created in history , there are even other technology been created mord worst than bitcoin and its a suprise to see bitcoin among the worst created technology

The bitcoin is worst because the project is a trial and error . The developer do not believe that it will boom to this extent and that's why altcoins are created to solve the problems of the bitcoin. The aim was to replace it with a better technology but the popularity that bitcoin has gained is so enormous and it couldn't be wiped off so easily

 

[Wisdom01]

I think the expert are more focused on the energy consumption aspect , because when they talk about the importance of bitcoin and the blockchain technology it would be seen as the best technology been created in history , there are even other technology been created mord worst than bitcoin and its a suprise to see bitcoin among the worst created technology

 

[Good-Guy]

I do not believe that Bitcoin is the "worst" technology because if we consume a lot of energy by mining coins, then it is also possible to create energy, too. People usually earn when they mine coins and they can generate their own energy from the profits they earn. There are many countries where electricity is cheap and I think it would be a better idea to mine coins in those countries and also in countries that produce a lot of energy.