Something to consider, carbon footprint only applies if you assume the power generation method is carbon emitting. Driving an electric car is carbon emitting if the generation station providing the electricity is coal powered. Its a deal breaker to continue burning fossil fuels for a substantial amount of power, regardless of whether its for Bitcoin or your microwave.
I'm not a power hippie, but my point is that its an inherent problem of power production, not Bitcoin.
I'm not a power hippie, but my point is that its an inherent problem of power production, not Bitcoin.
Bitcoin mining's source of electricity is 74% from hydro-electric power though, https://www.reddit.com/r/Bitcoin/comments/bymx0r/74_of_bitcoin_mining_is_powered_by_renewable/
Plus the OP is a fudster, he doesn't care about the environment.
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With a car that consumes 1 liter of fuel, 30% of the energy goes to useful work - the car goes forward, while 70% goes to waste heat.
With Bitcoin, for every liter of fuel burned 99.999999999999999999999999% goes to waste heat. Only .0000000000000000000000001% goes to the miner that guessed the correct number and made the next block - which is the 'useful work' being done by mining.
It would be VERY, VERY hard for you to invent a less efficient machine than Bitcoin mining. It is a most spectacularly horrible idea. Well, only horrible for those who like the planet. If your goal is to fuck up the Earth, then Bitcoin mining is your best friend.
With Bitcoin, for every liter of fuel burned 99.999999999999999999999999% goes to waste heat. Only .0000000000000000000000001% goes to the miner that guessed the correct number and made the next block - which is the 'useful work' being done by mining.
It would be VERY, VERY hard for you to invent a less efficient machine than Bitcoin mining. It is a most spectacularly horrible idea. Well, only horrible for those who like the planet. If your goal is to fuck up the Earth, then Bitcoin mining is your best friend.
The goal of Bitcoin mining is network security, not the block reward.
It's both. No one would be mining without the incentive, and there would be no network security without miners.