Bitcoin boom could cause environmental disaster

The boom of the Bitcoin pulled by the rise of the machines ' giant impact ' training environment.
Inside the factory of "digging" bitcoin worth tens of millions of USD
Bitcoin price recently increased continuously "shock" caused many investors to "stand to sit". In the year 2017, the price has risen about 14 times the bitcoin. On 10/12, bitcoin has officially traded on one of the largest stock on Wall Street.
In those days, Bitcoin is world attention when its value increase dizziness. From about $1,000 each in, now its price is approximately $15,000, even had time to more than $20,000. Fast price increase made many people concerned about a crisis when the "bubble" Bitcoin "explode" similar to the dot-com bubble of nearly two decades ago.


However, according to CNN, there is a further concern is its impact on the environment. Many people benefit because of the volatility in the price of the money but the people interested in the environment back to worry about a different risk: it is serious to affect the efforts against climate change. Unlike the coins typically associated with Capital Bank, Bank management, production and circulation, the virtual currency is created from the algorithm and it needed the machine to do it.
"Bitcoin is slowing efforts to achieve the transition quickly to get rid of fossil fuels," meteorologist Eric Holthaus wrote in an article for Grist environmental news page this week.
According to Energy Consumption Index of Bitcoin Digiconomist, Bitcoin use power about 32 terawatts of electricity each year, enough to supply 3 million households in the United States. Remember, that the processing of billions of transactions each year Visa also only cost electricity for 50,000 homes.
According to a statistics of the Alex de Vries, the miner can consume more than 24 terawatt/hours per year to exploit Bitcoin. This number is equal to the amount of electric energy by 186 million people in Nigeria use in a year.
"When Bitcoin as exploited, algorithms that solve the computer to ' dig ' be it will harder, synonymous with the energy to give it greater", Eric Holthaus, an expert on meteorology, said.
Miner community needs about 215 kilowatts/hour (KWH) for 300,000 transactions per day. Meanwhile, the average households in the United States consumed about 901 KWh/month. So the amount of electric power used for one transaction Bitcoin can be enough to serve all the needs of a family within a week.
77 KWH is the minimum power level for Bitcoin transactions.
Electric power is used for the operation of the Bitcoin than conventional electronic transactions. The cause is partly due to the price of this Cryptocurrency be influenced directly by the amount of electricity used for mining it. 77 KWH is the minimum power level for a virtual money transaction.


He said that if tapping Bitcoin remain as at present, the amount of electricity used for excavators may be sufficient to provide enough water for the entire United States in the year 2019. And just six months later, many people will be startled when power excavator Bitcoin can use the equivalent of the energy consumption of the world.
Higher power means the power plant to increase capacity, power plants sprouting, natural resources exploitation and use, environmental devastation ... are things Holthaus and the environmentalist concerns. Implications of it in the near future for sure is great without the extraction solution or new methods of Bitcoin power production more environmentally friendly new.
In fact, according to the University of Cambridge, the extraction plants are large and Bitcoin focus in China, in remote areas because of the price of electricity and the price of low ground. Sichuan, China is a land full of promise because there are huge coal reserves. Previously, it was the focus of the power plant operation less efficient, but a will is where the peach factory appearance Bitcoin "unprecedented" with a self-contained process, including the production of electricity.
Digiconomist said the energy demand of a camp ' dig ' Bitcoin in Inner Mongolia where they each visit is equivalent to the power source to a Boeing 747 cargo transport.
In addition to the energy consumption, still a major influence Bitcoin environment because of carbon emissions. According to data retrieved from a relational mining Bitcoin in Mongolia. When tapping a BTC, the base will emit about 8,000 to 13,000 kilogram of carbon gas, near 24,000 to 40,000 kilogram of CO2 per hour mining.
To understand these numbers, you imagine is a European standard car to discharge out about CO2 per kg in 0.1191 km migration. This means that in an hour base mining operations in Mongolia will emit equivalent emissions cars migration 203.000 km distance.
So, on the way to becoming the most valuable coins and decentralized payments system is reliable, the organizer is causing challenges to increasingly scarce sources of energy, and serious impacts on the environment.
For its part, the training organization has voiced major Bitcoin advocate for their activities when the researchers of the University of Cambridge that they believe is the environmental impact they cause is nothing compared to the exploitation of the resources natural resources such as oil.
They also further evidence that more environmentally friendly sources of energy more environment are also used. For example, the HydroMiner camp in Vienna of Austria, are using hydraulic power for the "dig" your Bitcoin.
However, that still doesn't make the environmental specialist, pessimism about the future. "We need to do something now!", John Quiggin, Professor of Economics at the University of Queensland, said.
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