Published
5 years ago on
October 30, 2018
"Currently, the emissions from transportation, housing and food are considered the main contributors to ongoing climate change. This research illustrates that bitcoin should be added to this list."Mining is a well-paid business and one Bitcoin is currently selling for around $6,300 after yesterday’s drop, though as you know at the moment, mining is far less profitable than it could be, given that Bitcoin still holds a potential value of $20,000.00 plus. Last year, the production of Bitcoin and usage emitted an estimated 69 million metric tonnes of carbon dioxide is equivalent according to the published research. In this year, Bitcoin was involved in just under half a percent of the world’s cashless transactions. As the currency becomes more common, the researchers said that it could enough electricity to emit over 200 gigatonnes of carbon in just over a decade. For those who don’t know, one gigatonne is equal to a billion metric tonnes of carbon. One of the other co-authors, Camilo Mora told the Thomson Reuter Foundation that "No matter how you slice it, that thing is using a lot of electricity. That means bad business for the environment.†On a happier note, mining Bitcoin is becoming somewhat more efficient though according to University of Pittsburgh researcher, Katrina Kelly-Pitou. The researcher said that miners of Bitcoin are moving away from sites such as China with a coal-generated electricity to environmentally friendly utilities in the United States and Iceland. What are your thoughts let us know what you think down below in the comments!
