Post
Topic
Board Bitcoin Discussion
Re: ✨✨✨ Are we wasting resources to make digital currencies? ✨✨✨
by
HabBear
on 23/12/2017, 18:58:24 UTC
It appears that mining costs and the creation of crypto currencies consumes a lot of resources Cry

We have very little resources remaining in the world for each other and future generations. Does it make sense to waste resources like this? Could we do this in a cheaper and more economically friendly manner? And does the value of bitcoin directly correlate to the amount of resources and man hours that are destroyed in order to create it?

Sure, some people are! Most initial coin offering are complete rubbish...they'll never be used, ever. For Bitcoin and the other top ten currencies I believe the energy use is worth it. Also, the miners could try to utilize more sustainable energy options - hydro, solar, wind. The onus is not on us as coin users, but for the miners...along with anyone else directly consuming energy to do so in a responsible way (if that is something they believe in).

Mining operations in Iceland use thermal heat, which has very little negative impact on the world or environment.