The next area where Bitcoin will be attacked is related to its carbon footprint
First bitcoin was attacked for being used by drug dealers and criminals, then it was a tool for terrorists and tax evasion, and now it is being said that it will destroy the planet due to its energy consumption.
While it does consume a lot of energy, it's really not what people need to be focused on.
The next time you hear someone talking about the carbon footprint of bitcoin, simply show them this picture:
(Source: https://twitter.com/Freemason_UK/status/1370654077831557120/photo/1)
That is said to be a picture of a gold mining operation, though to me it looks like a diamond mine.
Either way, there is a ton of environmental destruction and damage.
Now compare that to a bitcoin mining operation, which can be seen here:
(Source: https://twitter.com/Freemason_UK/status/1370654077831557120/photo/2)
Which one looks worse for the planet to you?
Yea these green zealots need to start looking at the bigger picture before they start going after bitcoin.
I suspect they will be surprised by what they find.
Stay informed my friends.
-Doc
A lot o mines are running on hydro power so yeah the rhetoric around bitcoin mining doesn't fully make sense.
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A big innovation for crypto in the next few years may be a shift in the nature of mining. Maybe the computation that goes into pure mining could dovetail with computation that happens anyway, similar to the Recaptcha model, where solving a puzzle serves the purpose of both user verification and also AI training for autonomous vehicles and OCR.
I’m not sure of the technical hurdles (and if I were, I would have more to contribute) but it seems that there is an important problem to solve there. Also it might “re-de-centralize” Bitcoin mining from massive server farms in China to a truly distributed network as it was intended.
Whatever the environmental costs, it still beats the physical mining of precious metals. But still could probably be improved further by more digital innovation. And let’s melt the damn pennies already before mining more copper.
Also interested to see how asteroid mining shapes up in the next few decades. Maybe SpaceX or Planetary Resources finds and exploits huge quantities of extraterrestrial gold and platinum to bring home, only to flood the commodities market, dunk the price, and find that digital scarcity disrupts the whole concept of precious metals altogether.
That’s all a long way off, but would be a fascinating ironic twist for a science fiction story about crypto, if anyone is interested in writing it. 🙂
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