While it's true that printing money and manufacturing coins takes a lot of resources, some have criticized Bitcoin for consuming resources unnecessarily.
According to the ATM Industry Association there are about 2.5 million ATMs installed in the World presently. Let's think that the most time each ATM consumes 100W (definitely not less than 100W as it is not a simple motherboard with just a CPU installed). This means all ATMs are consuming 6000MW a day at least. Most time they are doing nothing but waiting for a customer. Is it a waste of the resources or useful spending?
update to my post cited above: the ATMIA withdraw the page I linked to. Here is some replacement: https://www.atmia.com/news/?detail&id=154 The present network power is 19,303,048.14 GH/s according to blockchain.info. Assuming that modern mining equipment draws 1W per Gh the whole bitcoin network consumes 463.27315536 MW a day.
Good luck bitcoin! If we keep believing it will happen indeed!
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BoardBitcoin Discussion
Re: Tax on mining due to climate change.
by
emergingcoin
on 02/02/2014, 21:01:54 UTC
Well, If the Panda or the IceBear get into trouble and the bees have problems to reproduce and the farmers can not grow their crops and the volume of ice has dropped by 90% since 1970 (not the area, this only 40%). etc. etc. etc.
its not a joke!
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BoardBitcoin Discussion
Re: Tax on mining due to climate change.
by
emergingcoin
on 02/02/2014, 16:14:57 UTC
Wow, thanks for the answer. Then the next logical question will be: what needs to happen for some organisation to push this global tax higher on the global agenda??
We are entering a future that becomes stranger by the day...
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BoardBitcoin Discussion
Re: Tax on mining due to climate change.
by
emergingcoin
on 02/02/2014, 15:46:35 UTC
Aha, so all windmills will be used for bitcoin mining.
That is a stupid future.
I mean this energy problem could really harm the bitcoin.
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BoardMeetings (Nederlands)
Re: Bitcoin meeting Nijmegen donderdag 30 januari bij café van Ouds
by
emergingcoin
on 02/02/2014, 15:28:29 UTC
Jammer dat het tot nu toe alleen blijft bij lokale initiatieven.
Zal het ooit 'mainstream' worden? die bitcoin?
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BoardBitcoin Discussion
Topic OP
Tax on mining due to climate change.
by
emergingcoin
on 02/02/2014, 15:20:46 UTC
A special climate tax in the comming years will spoil the bitcoin market. Electricity needs will skyrocket. So will the tax on electricity.
