Your argument stating that mining is impacting the climate is a joke, yes it is impacting the climate with all the power and such being used. But what about all the paper being used for the bills in the countless amounts of currencies we have in the world?
Surely you can't be serious, right?
- A single tree produces at least 5000 sheets of paper (probably more like 20k), which we can make into ~20-80k bills, which is at least 100k€ worth of money, from one tree. The amount of paper used for a really valuable euro bill is just negligible
- Any tree that we cut down to get paper from, we can plant a new one (and we do), which means that nothing is really lost? A new tree will grow, consuming a lot of CO2.
- We can recycle old paper and avoid cutting down trees
- Euro bills (and most other bills in fact) don't even use normal paper, instead they use cotton
Now you have to also think about this though:
- Bitcoin miners use highly technical equipment, such as graphics cards or even specialized ASICs. It is very expensive and relatively bad for the environment to produce these (and also takes up a lot of energy)
- There's entire mining farms in countries where energy is cheap, mostly because those countries don't give a shit about the climate and use loads of coal or worse.
This link here is very informative. Especially this part: "Number of U.S. households powered for 1 day by the electricity consumed for a
single transaction:
9.63". This is a SINGLE transaction, not for all of them. In fact the website also says that bitcoins use the same energy as bulgaria, which means for just mining, we use as much electricity as for
7 MILLION people.
I also did some calculations on my own (I hope I ain't wrong). It seems like bitcoin mining (and only bitcoin mining), takes the equivalent of more than
4 fully powered nuclear reactors (at 1GW)
24/7. And you have to remember this, bitcoin isn't even the hot thing anymore when it comes to mining.
Also remember that bitcoins aren't used widely, imagine the toll on the environment if it was our main currency. This is absolutely unacceptable.
we all want a decentralized, anonymous, fast, easy and cheap payment solution.
I don't. I like having a fast, reliable and cheap payment method. And guess what, they already exist. What benefit does it being decentrilized provide? Other than being able to buy childporn anonymously I don't really see any reason why anyone would want this.
But saying the world of crypto currencies is a hype and it will die is a very uneducated statement.
That is not at all what I said. I said bitcoin lives and dies with the hype. Which is 100% true. The only reason people buy it is because there's a lot of hype about it, and the possibility of getting rich. As soon as the hype dies down, demand will go down significantly, therefore fucking bitcoin over.
In fact there is a very real scenario that would kill bitcoin immediately. The guy who made bitcoins (whoever that is), apparently owns 1 million of them. That essentially means, he owns 5% of ALL bitcoins. A single guy. Imagine the power he has, he can single handedly crash bitcoins.
Without doubt is crypto currencies the future
I beg to differ. Crypto currencies are fucking useless, they don't represent anything. They aren't backed by a government, the only reason they are worth something is because of real currencies.
Also, crypto currencies currently can't ever replace real currencies. Bitcoins are capped at
7 transactions per second, which btw is why the transaction fees are so high. A real alternative would have to handle 10000 transactions per second at the very least, possibly much more. Even bitcoin cash can only handle at most 56 transactions per second, which is absolutely pathetic.
