Could crypto mining be damaging our environment?

[Kingsley]

Crypto mining has become quite popular over the time since it was released, and now with the increasing prices there are more and more people that are venturing into crypto mining. However the energy requirements to operate a crypto mining rig is much higher than the energy required for conventional households, and therefore this puts a strain on the energy usage of many supply chains.

This is true, the minning of crypto currencies really uses a lot of energy to mine and this is really affect the environment. In the face of global warming countries are still struggling with it we can't cope again with another environmental challenge coming from mining.

Knowing that energy is a scarce resource, there are many fossil fuels being burnt in order to meet this increasing energy demand, which leads to devastating environmental consequences.


Do you think that restrictions should be placed on crypto mining to try and curb the negative environmental damage that it may have on the planet??

 

[sincerem]

Not only on mining crypto that consumes power or uses gas to mine which is damage to our environment due to the influx of carbon dioxide, that causes radiation in the body and causes environmental pollution. But that can't stop the mining of crypto, cos other processes uses gas and energy to operate.

 

[arunima25]

Today is World's environment day. And it's unfortunate that we have come to a stage where we need such a day to increase awareness around environment. But crypto mining is not the only thing that is destroying the environment. There are many more things but we can not afford to stop everything.

Well, all said anything destroying environment has to be stopped and a better environment friendly way has to be designed. Elon Musk gave this statement only to withdraw his support from Bitcoins and that statement brought ripple effect in the crypto market.

 

[sincerem]

Today is World's environment day. And it's unfortunate that we have come to a stage where we need such a day to increase awareness around environment. But crypto mining is not the only thing that is destroying the environment. There are many more things but we can not afford to stop everything.

Well, all said anything destroying environment has to be stopped and a better environment friendly way has to be designed. Elon Musk gave this statement only to withdraw his support from Bitcoins and that statement brought ripple effect in the crypto market.

You spoke admirably well. Not oy crypto mining destroying the environment as the case maybe. Other environmental pollutants are still around, causing pollutions to the air through the gas and energy they make use of.

Elon musk have brought the price of BTC down after delisting the coin as payment for Tesla motors.

But do you think this fall in price of BTC caused by Elon musk tantrum won't affect his $1.5 billion investment??

 

[arunima25]

You spoke admirably well. Not oy crypto mining destroying the environment as the case maybe. Other environmental pollutants are still around, causing pollutions to the air through the gas and energy they make use of.

Elon musk have brought the price of BTC down after delisting the coin as payment for Tesla motors.

But do you think this fall in price of BTC caused by Elon musk tantrum won't affect his $1.5 billion investment??

People are finding alternative ways to cleaner and environment friendly energy. And ways to reduce the various pollutions through little and big steps. Not all changes can be brought in a day but at least people have awareness and taking small steps towards it. The options for cleaner and safer energy is being explored and implented.
Now coming to Elon Musk. He is a smart business man and has a vision. He will not make a mistake to damage his business. He has a net worth beyond 164 billion dollars and risking 1.5 billion dollars is like taking a drop out of an ocean. Not sure that it will even hurt him.

 

[sincerem]

People are finding alternative ways to cleaner and environment friendly energy. And ways to reduce the various pollutions through little and big steps. Not all changes can be brought in a day but at least people have awareness and taking small steps towards it. The options for cleaner and safer energy is being explored and implented.
Now coming to Elon Musk. He is a smart business man and has a vision. He will not make a mistake to damage his business. He has a net worth beyond 164 billion dollars and risking 1.5 billion dollars is like taking a drop out of an ocean. Not sure that it will even hurt him.

I know the govt, finds ways to cleanse the environment from pollutants. We as good citizens too helps to dispose those harmful substances that pollutes the air through sanitations.

In the case of Elon musk he isn't ready at all, to lose the $1.5 billion invested funds through his Tesla motors company into BTC. He knows what he's doing, he'll make ×2 interest of that money in the future you'll see it by then. I know tje money might be small to Elon base on
the heavy amount of net worth he commands.

 

[Alexandoy]

When it comes to energy I don't think we can focus on one industry much more with mining crypto coins because the energy needs are varied. For fossil fuel the number 1 consumer is the auto industry and next are the manufacturing companies. For me, the mining as an environmental concern is outrageous.

 

[arunima25]

I know the govt, finds ways to cleanse the environment from pollutants. We as good citizens too helps to dispose those harmful substances that pollutes the air through sanitations.

In the case of Elon musk he isn't ready at all, to lose the $1.5 billion invested funds through his Tesla motors company into BTC. He knows what he's doing, he'll make ×2 interest of that money in the future you'll see it by then. I know tje money might be small to Elon base on
the heavy amount of net worth he commands.

Elon Musk is a smart business. And business don't want to loose even a single penny no matter how huge their net worth is. So he would also not like that. They just want to grow more and more. So, here I would not disagree with you. But then his statement has caused the ripple effect and we can not deny that.
The post above has mentioned that this might be outrageous. Auto industry uses a lot of fossil fuels and is a main source of environmental pollutants. Slowly people are moving towards safer environment friendly cars but they still have. I am not sure but may be crypto mining can also explore better options in future.

 

[sincerem]

Elon Musk is a smart business. And business don't want to loose even a single penny no matter how huge their net worth is. So he would also not like that. They just want to grow more and more. So, here I would not disagree with you. But then his statement has caused the ripple effect and we can not deny that.
The post above has mentioned that this might be outrageous. Auto industry uses a lot of fossil fuels and is a main source of environmental pollutants. Slowly people are moving towards safer environment friendly cars but they still have. I am not sure but may be crypto mining can also explore better options in future.

You spoke well dear, Elon musk can't use a lose a dime from investment around BTC when if he has the whole earth at his disposal. Those men aren't just satisfied with financially benefits, they invest in money with high hopes of making it at least double return of investment.

I understand that fossil fuel causes environmental pollution that is why, Elon musk have diverted attention to build electric cars to bypass fuel engines and save our environment from pollution.