Does Bitcoin cause an environmental crisis?

Does Bitcoin cause an environmental crisis?

When new technologies emerge, they are often harmful to the environment, simply because when designing prototypes of new technologies, environmental efficiency may not be a factor for designers and developers to consider, they just want to complete their products at no cost.

Bitcoin is no exception. Bitcoin is a powerful tool that promises to reshape the financial industry. In fact, it has made steady progress in this area. Bitcoin is a valuable store that can be used to transfer funds, hold money, and even make money through investments. Bitcoin aims to create a society that is completely cashless and no longer needs to rely on banks to operate. .

This sounds good, isn't it, but you need to consider the impact on the environment. In essence, Bitcoin itself is harmless to the environment, but Bitcoin's production resources are very large, and usually require a lot of computing power in the operation of mines and facilities. The mine uses a large number of supercomputers for calculations to perform bitcoin mining. Mining requires a lot of computing power to process, so it requires a lot of power and computing power to run.

Usually this energy is produced by non-renewable means. Producing more bitcoin means greater power output, which means more energy is consumed and eventually the environment is more harmful. So, does Bitcoin cause environmental pollution?

Probably not, we must remember that the Fiat currency also produces a lot of carbon pollution, not to mention the damage caused by metal mining. Of course, the damage caused by the creation of banknotes, but more needs to be done to prevent these pollutions. Guide Bitcoin to move in the right direction. Money, such as Bitcoin, is also trying to mitigate the impact on the environment, but this is not enough. The entire community needs to do more to mitigate the environmental pollution of Bitcoin. Investors, exchanges and miners need to work hard to reduce their own carbon emissions and need to do more to educate the environmental impact of bitcoin and blockchain technology.

This is not all pessimism and frustration. Remember that this is a new technology and a new movement. As time goes by, environmental efficiency will be approved, so the damage caused by Bitcoin may begin to reverse. Bitcoin may not be green at the moment, but in a few years, there is a more environmentally friendly way, and Bitcoin may actually become a friend of the planet. (chain to finance)