Bitcoin & Electricity: Threat or Blessings

[emma.lee1890]

Bitcoin has become the most talked thing recently for its upsurge and downfall, the very feature that makes it unique to all others. Bitcoin can be collected through a process of solving mathematical equation, better known as mining. Mining needs a great set of computer components to do it pretty well but if takes a huge amount of energy to produce a tiny amount of bitcoin. Since mining become very popular among enthusiast and the price hike is going up; more and more people are involving themselves into this. Electric bills have already put miners looking for a less costly source of energy. Companies have been looking to be able to places like Canada plus the Sicilian province wherever electricity is typically less costly. Because miners have incentives to use cheap electrical energy, this results in more R&D in the energy space. In the long run, this will make forms of electricity less costly to all of modern society as innovations are manufactured in energy.
Also even though amount of energy mining procedures consume does not really go unnoticed, some individuals think that the benefits associated with exploration - network security ~ outweigh the negative externalizes like electricity consumption.

[Fenix]

I do not see any problems with electricity for bitcoin mining. We have renewable alternative sources of inexhaustible energy. This primarily refers to the energy of the sun and wind. Now getting energy from these sources is getting cheaper every year. Solar panels can be placed anywhere.
In addition, I recently found information that the service of banks takes three times more electricity than bitcoin mining.

[TripleVodka]

I think this isn't a problem, because Bitcoin's miners already since a long time ago, if that be a problem, the government will take an action to fix this but the reality no one problem, and the problem just about fake news.
And remember, the Bitcoin's miners will pay the electricity bill and I think this isn't illegal mining activity, so what is the problem?

[Munareal]

The use of high electricity in mining bitcoin is not a threat to the environment as there is no massive adaptation by the whole world. I believe research is going on, on how to reduce the high electricity consumption in mining Bitcoin.

[meale]

Electric bills have already put miners looking for a less costly source of energy. Companies have been looking to be able to places like Canada plus the Sicilian province wherever electricity is typically less costly. Because miners have incentives to use cheap electrical energy, this results in more R&D in the energy space. In the long run, this will make forms of electricity less costly to all of modern society as innovations are manufactured in energy.

[gribble]

I don't think there is a problem with electricity for bitcoin mining, because as we know that Bitcoin miners have been around for a long time, if it becomes a problem, then the government will take action to correct this but in reality there is no problem, so that says that the problem is only about fake news. because what we need to remember is that Bitcoin miners will always pay electricity bills and I think this is not illegal mining activity, so what's the problem?

[Ahmad Arwanj]

this will be a positive and negative impact for both because each has the same power function but here for me bitcoin has many benefits, rather than threats when many fans benefit from bitcoin