Post
Topic
Board Bitcoin Discussion
Re: ✨✨✨ Are we wasting resources to make digital currencies? ✨✨✨
by
ahmedjamal1998
on 13/12/2017, 23:59:58 UTC
It appears that mining costs and the creation of crypto currencies consumes a lot of resources Cry

Here we go again. How many times do you guys need to keep spreading this totally false information ? Are you paid to FUD crypto or something  Roll Eyes

I can right of the bat say no we're not wasting resources to make digital currencies. To make a system that's to be used by the entire globe, some energy has to be spent. This is not called wasting. This is making use of energy. And please don't pull up some useless and totally inaccurate info that come up on the news with absolutely zero sources other than Mr X who wrote it on his way to the studio.

Before attacking the amount of resources used by crypto, why don't you tell me how much is used by the traditional banking system as a whole ? There is no way mining costs come near that amount. In fact, other than paying humans and using human resources to make transactions crypto removes that whole expenditure.

If you dig a little deeper, you'll find that most of the mining farms that need and consume a large amount of electricity are setup in places where there are natural resources of energy that are unused. That's actually the case in a lot of places in China and the private electricity companies (being companies that also want to make money) actually encourage these setups. Please point out the wasted resources.