Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
Come to think of this, Bitcoin is mined through a complex software and hardware infrastructure system. And just like any other traditional method of mining, manufacturing bitcoin also impact the environment in not so subtle ways. The servers used for mining consume a great deal of energy. We can only imagine how much is being spent on running countless servers around the world. In response, environmental legislation will have to be introduced to address energy consumption related to bitcoin mining.
The consumption of energy of bitcoin is exaggerated, it is true the consumption levels are high, no one is going to deny that but banks are trying to exaggerate this so people are afraid of adopting bitcoin or to try to create animosity between bitcoin and environmentalist, but make no mistake, this is an attempt by banks and governments to attack cryptocurrencies and to try to slow adoption until they figure out what to do to stop its adoption completely.