Abstract
Bitcoin is a digital currency that is built on a peer-to-peer payment system that is governed by open source software and is distinguished by cheaper transaction costs, higher security, and scalability than fiat money, as well as the absence of a central bank. Despite accusations concerning its illicit usage and social implications, it has piqued the scientific community's curiosity. The goal of this paper is to describe and analyze current trends in the literature about bitcoin's long-term viability, taking into account environmental, social, and economic factors. According to the findings, the transition of the entire monetary system to the new cryptocurrency will require an unacceptable amount of energy to mine new bitcoins and sustain the entire virtual monetary system.
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