EXCESSIVE AMOUNT OF ENERGY TO GENERATE BITCOINS
IS IT ACCEPTABLE?
The new cryptocurrency has not only brought good news, namely; is decentralized, governments can not handle and can be used from anywhere in the world, but not everything is rosy.
Approximately, the amount of 1047 megawatts are spent per hour between all mining machines Bitcoin, which in 24 hours equivalent to 25128 MW. Imagine those numbers per week, month or year. It’s amazing the overwhelming amount of energy expended solely for transactions in this currency.
According to experts, the money spent daily on energy to produce bitcoins is generated 3 times, which is quite feasible because the investment is recovered, but we are not taking into account the cost of hardware.
Specialized machines for these purposes are increasingly expensive, with the advent of new technologies, companies in charge of specialized hardware for mining are updated, as in the case of Butterfly Labs.
One of the cheapest machines, offering 10 GH/s only, costs about $ 50, but, how long will remain useful these advanced machines, used 24 hours a day, 7 days a week? The service life of these machines is approximately five years, and although the $ 50 investment can be recovered in the long term, environmental damage can not be repaired.
The consequences are not only monetary, not just about spending money on electricity or hardware; the most serious consequences are caused to the environment, which is increasingly affected.
Every day thousands of oil, chemical and smelting companies, give a blow against nature which comes to us crying for help.
And if it were not enough, the cars, including public transport, send harmful gases to the ozone layer, which is destroyed every second. That’s why global warming increasing every day, which has become a major global problems.
And what do we do for this cause? Create a cryptocurrency that continues to attack the environment, which uses thousands or perhaps millions of Gigawatts per year, resulting in an additional expenditure of energy generated from oil, or dams, causing damage to the environment.
Perhaps scientists should be aware of this to create a computer that carries integrated a form of clean power, such as the use of solar or wind energy, to avoid excessive energy consumption only bitcoin transactions.
Before cryptocurrency, energy consumption was high, but today is disturbing to imagine the high consumption after bitcoin, which has put many people to work as miners for some amount of bitcoins.
Basically we change the health of our planet by a digital currency that enables us to buy material things. What do you think of energy expenditure of Bitcoin, you think this fair? Give us your opinion.