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Author Topic: The Coming of Green Bitcoin?  (Read 13264 times)

Online TomPluz

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The Coming of Green Bitcoin?
« on: May 27, 2021, 04:58:00 AM »


Lately, the question of the power requirement to run Bitcoin mining has been in focus. And so we now hear the demand for green Bitcoin referring to the Bitcoin mined using cleaner, renewable sources of electricity coming like solar, wind, water and maybe we can also include geothermal. And because of this concern and demand, there is a big possibility that some miners can be shifting their sources of power from coal to solar, though it may not be easy to do for some miners especially those in China.

Is there  a possibility that with this scenario, mining in China can be disrupted and its share of the total market can be slashed? Or will this issue just be forgotten weeks from now?

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The Coming of Green Bitcoin?
« on: May 27, 2021, 04:58:00 AM »

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Re: The Coming of Green Bitcoin?
« Reply #1 on: May 27, 2021, 06:41:35 AM »
I think the good times for Bitcoin are starting to come. A few days ago, however, the price of Bitcoin came down a lot. However, Bitcoin has started coming back to its previous form. Hopefully Bitcoin will be able to set a new record price soon. Because the amount of investment in Bitcoin platform has been low for some time but now the amount of investment in Bitcoin platform has increased a lot.
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Re: The Coming of Green Bitcoin?
« Reply #2 on: May 27, 2021, 03:07:21 PM »
Nothing will be disrupted in china. But if miners shifted to solar that will be an appreciable step but the solar setup is not cheap it is costly for the small miners I believer big miners can afford to shift but for the small miners, it's hard to afford. I believe this issue will be fade away as time passed.

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Re: The Coming of Green Bitcoin?
« Reply #3 on: May 27, 2021, 04:05:07 PM »
Solar, wind, and water resources are much environmental friendly than coals.

If these will be the next development program for mining then I assume the mining industry will absolutely shift to whatever the trend comes for  mining.

We can also speculate the price of Bitcoin could reach 100k mark in due time.

Change is constant in this world.

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Re: The Coming of Green Bitcoin?
« Reply #4 on: May 27, 2021, 04:11:31 PM »


Lately, the question of the power requirement to run Bitcoin mining has been in focus. And so we now hear the demand for green Bitcoin referring to the Bitcoin mined using cleaner, renewable sources of electricity coming like solar, wind, water and maybe we can also include geothermal. And because of this concern and demand, there is a big possibility that some miners can be shifting their sources of power from coal to solar, though it may not be easy to do for some miners especially those in China.

Is there  a possibility that with this scenario, mining in China can be disrupted and its share of the total market can be slashed? Or will this issue just be forgotten weeks from now?
I don't understand why using the solar system for power generation would be a problem when we know that all the solar equipment we use in most parts of the world are been imported from China. I have worked with an organization that develops mini solar power grid in my country and one of the staffs told me that even if they got the original design from the USA, all subsequent product is from china so I know they have the capacity to build the solar power equipment or is it that they don't have enough solar energy to power the equipments? this souldnt be a problem for them as far as i am concern.

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Re: The Coming of Green Bitcoin?
« Reply #5 on: May 28, 2021, 07:18:18 AM »
The cryptocurrency market I looked at a few days ago was red. But now the market for Bitcoin will be green again. All the markets in cryptocurrency are going green.Hopefully this is a green signal for cryptocurrency. We are hopeful that other cryptocurrency currencies, including Bitcoin, will rise again soon.
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Re: The Coming of Green Bitcoin?
« Reply #6 on: May 28, 2021, 12:06:11 PM »
The cryptocurrency market I looked at a few days ago was red. But now the market for Bitcoin will be green again. All the markets in cryptocurrency are going green.Hopefully this is a green signal for cryptocurrency. We are hopeful that other cryptocurrency currencies, including Bitcoin, will rise again soon.
of course is we hope, because the effect of the very deep correction of bitcoin affects almost all altcoins, so that all of them have decreased. many have lost money with this incident, especially if they are impatient and immediately carry out the execution to sell.

we should believe that bitcoin will do well and will be able to bounce back so that all the altcoins can move towards improvement. we will not suffer a huge loss from the panic that occurs.

yes, the signal has returned, even though it hasn't really reached the right point, we can believe it won't go down again, but we must always be optimistic.
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Re: The Coming of Green Bitcoin?
« Reply #6 on: May 28, 2021, 12:06:11 PM »


Offline Rockalo

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Re: The Coming of Green Bitcoin?
« Reply #7 on: May 29, 2021, 07:11:00 AM »
I read some news of Bitcoin Mining. There I found out that bitcoin mining consumes a lot of electricity. Which is very expensive. Bitcoin mining is on the rise around the world. However, such activities have stopped consuming extra electricity. In other words, the amount of electricity consumed to bitcoin mining, the price of bitcoin is many times less than that. So it is calculated that bitcoin mining does not increase the electricity cost. The more organizations or authorities that do bitcoin mining, the more they lose. So there are many speculations about bitcoin mining.

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Re: The Coming of Green Bitcoin?
« Reply #8 on: May 29, 2021, 08:19:03 AM »
As far as I know, Bitcoin mining is already banned in China. Following China, bitcoin mining was banned in Iran. It is possible that other countries will pay attention to the problem of consumption of cryptocurrency energy from carbon sources. Although this is a general problem, because any consumers use the energy that is generated in a given area, it is possible that this will also be a signal for a general revision of the sources of energy produced due to the dramatically changing climate on our planet. If it is necessary for the preservation of humanity, then it must be done once and for all.

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Re: The Coming of Green Bitcoin?
« Reply #9 on: May 29, 2021, 08:35:24 AM »
After what is happening in China the total market can be slashed. China has already lost its position as a global cryptocurrency trading centre after Beijing banned crypto exchanges in 2017. After all, China will lose crypto computing power to foreign markets as well.

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Re: The Coming of Green Bitcoin?
« Reply #10 on: May 29, 2021, 03:06:05 PM »
Greener Bitcoin is something great and it will definitely help the sector. Surely this is the future for all the crypto currencies.

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Re: The Coming of Green Bitcoin?
« Reply #11 on: May 29, 2021, 08:18:05 PM »
There's important reason why every indusyry must use green energy because without it our environtmeny will have great damage. But there's no reason why bitcoin become priority, this digital money only about technology and use slowly but sure is better.

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Re: The Coming of Green Bitcoin?
« Reply #12 on: May 29, 2021, 08:40:33 PM »
I think the biggest problem with this type of mining would be having the initial investment needed to get started. Not only will ASICs be needed, it would be necessary to build new facilities and new structures and on very large sites, especially if we move towards solar energy. Thousands of solar panels would also be necessary, I don't know what their price is, but they sure aren't cheap.
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Offline Bitstar_coin

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Re: The Coming of Green Bitcoin?
« Reply #13 on: May 29, 2021, 09:02:22 PM »
It is funny how this has become a thing to consider after so many years have with btc being mined in same way, suddenly people are talking about more greener way to mine btc because Elon don't find it healthy enough, I guess those previous people who already hinted this out where not taken seriously.

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Re: The Coming of Green Bitcoin?
« Reply #14 on: May 29, 2021, 11:40:51 PM »
It is funny how this has become a thing to consider after so many years have with btc being mined in same way, suddenly people are talking about more greener way to mine btc because Elon don't find it healthy enough, I guess those previous people who already hinted this out where not taken seriously.
as a businessman it is clear what is said there is a certain purpose that can be very clear related to it, so just ignore what is said because indications for self-benefit are always attached to people like this. more and more who respond then the error continues.

 

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