The Coming of Green Bitcoin?

[mlawson71]

Indeed. I do hope it works, for the sake of the El Salvadorian people. Personally, I would have preferred such tests were conducted by coutries with stronger economies, vulnerable population shouldn't be economic test subjects, much as I want Bitcoin to gain more popularity.

[Master107]

Of course, FIAT must continue at El savador. Becaue not easy to learn crypto currency.
I think El savador need time, more time to learn aboyt crypto and usable..
Please wait, we will see the test, sucsess or not.

Some believe that this present condition is a proof that crypto is just a Bubble and has a limit. El Salvador would be the first affected during this bloodbath event. They are still on the process to observe the brand new Bitcoin adoption beyond cultural point of view and traditional fiat system. Though it may look unsafe to adopt Bitcoin because of volatility, yet need to try. To master the new system it requires enough time to fix everything. Let's see El Salvador few years more.

[bayiajaib]

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 think the chinese government has good solution for this problem.
Maybe solar energy or alternate energy for green bitcoin, If they said bitcoin mining has bad effect for environmental.
Bitcoin is the future technology, no one can refuse crypto.

[yohananaomi]

-snip-

I think the chinese government has good solution for this problem.
Maybe solar energy or alternate energy for green bitcoin, If they said bitcoin mining has bad effect for environmental.
Bitcoin is the future technology, no one can refuse crypto.

if you look at the problems in China, then we have to look at China's past of bitcoin. China has banned several times and finally it's back to normal, we don't know what China is currently doing with the ban.


Mining has a negative impact on the environment, yes, we have to admit that. but maybe this is one that can be brought to the fore, but we know that china is very advanced in technology. If they want, it is clear that this can be accomplished with renewable technologies, such as solar power plants, water, and many others.

[mlawson71]

Are there no news coming out of China regarding the ban and how the industry is doing there currently, if at all?

[debra]

Are there no news coming out of China regarding the ban and how the industry is doing there currently, if at all?

What news do you want? About the ban on Bitcoin mining, it seems just applied to miners who use fossil energy. While miners who use non-fossil energy, have no problem continuing the activities in mining Bitcoin. The China government may take attention to their future energy, they want to eliminate something that can decrease much on the existing energy there.

[mlawson71]

I did not know the ban was not universal. So if they're using, say, solar panels, they can keep mining just fine?

[debra]

I did not know the ban was not universal. So if they're using, say, solar panels, they can keep mining just fine?

As far as I know, using non-fossil energy can continue their mining activity. I don't know if it was just changed lately, but that's what I read from the previous news. I also have discussed on many people on the other crypto forum, some people said that, only using fossil energy was banned. The China government may want to consider the mining must be more friendly with the environment.

[yohananaomi]

I did not know the ban was not universal. So if they're using, say, solar panels, they can keep mining just fine?

As far as I know, using non-fossil energy can continue their mining activity. I don't know if it was just changed lately, but that's what I read from the previous news. I also have discussed on many people on the other crypto forum, some people said that, only using fossil energy was banned. The China government may want to consider the mining must be more friendly with the environment.

If it has to do with China, whatever their government does, it certainly needs to be observed, because usually this has been banned several times and nothing will happen in the future. Since we know that China is an expert in all things related to renewable technology that may be able to do very similar things from the original, does this have nothing to do with China's desire to make something?

[Freemind]

If it has to do with China, whatever their government does, it certainly needs to be observed, because usually this has been banned several times and nothing will happen in the future. Since we know that China is an expert in all things related to renewable technology that may be able to do very similar things from the original, does this have nothing to do with China's desire to make something?

On this occasion, the Chinese government has managed to eliminate some of the largest mining groups in China from its territory. It is not only a problem with the amount of electricity that these mining groups use, it is also, and is the most important part, economic decisions that according to the Chinese government can negatively affect the country and its sovereign currency, the Yuan. I think the electricity issue, in this case, is another excuse to ban cryptocurrencies in China.

[mlawson71]

I had little doubt that having full control over their currency was their main motivation, that much was pretty obvious I think. I wonder if it did help the local environment at all though, they have a lot of other industry causing all sorts of problems.

[therozaq]

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 think China have plan to create new coins.
They banned bitcoin mining, said It's not good for environmental, It's just drama.
I don't believe about this.
I think China government has good solution, maybe use solar energy or geothermal for bitcoin mining. Not only ban.

[silkytakyaan86]

Of course, the price of bitcoin is down a bit at the moment. But, the future of bitcoin is going to be very bright in the coming time. No doubt it will turn green soon.

[alltalk]

I think China have plan to create new coins.
They banned bitcoin mining, said It's not good for environmental, It's just drama.

Do you think China government to create a crypto coin?
To be honest, I don't think it to happen, they are unlikely to have a crypto coin.
Sure, banning BTC mining was a drama. They may take advantage of buying big numbers of Bitcoin at that time. They must know after they announced banning BTC mining, the price of BTC dropped severely. Then, when Bitcoin is in a bullish trend again, they may consider selling them. So be careful!!

[Freemind]

Do you think China government to create a crypto coin?
To be honest, I don't think it to happen, they are unlikely to have a crypto coin.
Sure, banning BTC mining was a drama. They may take advantage of buying big numbers of Bitcoin at that time. They must know after they announced banning BTC mining, the price of BTC dropped severely. Then, when Bitcoin is in a bullish trend again, they may consider selling them. So be careful!!

China will not have a cryptocurrency as we know them, it will have a CBCD currency, the digital Yuan, a digital currency issued by the Chinese central bank. Although for the industry and the community the fact that the Chinese government banned crypto was a shock, I personally think it is one of the best things that could have happened to cryptocurrencies. This has allowed Bitcoin mining to be more decentralized and let us forget once and for all the “continuous fear” of what China can do.