Could crypto mining be damaging our environment?

[BrolySSJ]

I don't see any reason why crypto minning is damaging our environment, minning crypto is like putting money in a business and allowing it yield interest and increase for you, so i don't see any negative thing concerning crypto minning.

The link is not a direct link and would have to be looked at in an indirect way to see the damage that is being done by mining. The energy requirements of mining is much larger than conventional internet and electricity usage and this strain is what is having an impact on the environment.

 

[alberello75]

My answer is YES, given the environmental damage from energy sources (and unfortunately from many other human factors!), It would be necessary to limit the use of crypto extractors, all over the world.
The environment is certainly in the first place for the survival of every form of life, so it must absolutely be respected!

 

[FreshKaz11]

Crypto mining has become quite popular over the time since it was released, and now with the increasing prices there are more and more people that are venturing into crypto mining. However the energy requirements to operate a crypto mining rig is much higher than the energy required for conventional households, and therefore this puts a strain on the energy usage of many supply chains. Knowing that energy is a scarce resource, there are many fossil fuels being burnt in order to meet this increasing energy demand, which leads to devastating environmental consequences. Do you think that restrictions should be placed on crypto mining to try and curb the negative environmental damage that it may have on the planet??

I don't think there should be any restrictions on crypto currency mining for now, because if mining of crypto currency will be danger to the environment I don't think there will be any mining program in place at first. So let's keep mining but if notice any damages I think they should restrict then.

 

[Zubair]

Crypto mining has become quite popular over the time since it was released, and now with the increasing prices there are more and more people that are venturing into crypto mining. However the energy requirements to operate a crypto mining rig is much higher than the energy required for conventional households, and therefore this puts a strain on the energy usage of many supply chains. Knowing that energy is a scarce resource, there are many fossil fuels being burnt in order to meet this increasing energy demand, which leads to devastating environmental consequences. Do you think that restrictions should be placed on crypto mining to try and curb the negative environmental damage that it may have on the planet??

I wasn't aware from the process of mining of cryptocurrency, but thanks to you for sharing such a valuable knowledge. As you told in your thread, I think I would definitely be dangerous for environment. But this is never going to stop now, because people are becoming addicted of getting free coins with some investment.

 

[BrolySSJ]

I wasn't aware from the process of mining of cryptocurrency, but thanks to you for sharing such a valuable knowledge. As you told in your thread, I think I would definitely be dangerous for environment. But this is never going to stop now, because people are becoming addicted of getting free coins with some investment.

This is true and people consider mining to be an easy way that you can make money with little to no work and in doing so the repercussions are quite sever. I think that with new mining tax laws that are in discussions in many countries these types of considerations and aftermaths will likely be taken into account.

 

[Kingsley]

This is true, the minning of crypto currencies really uses a lot of energy to mine and this is really affect the environment. In the face of global warming countries are still struggling with it we can't cope again with another environmental challenge coming from mining.

 

[eLdavis]

I dont really know how true this is, but i have heard about it on many occasions, how minning is not safe for the environment and all that. Even for some of our devices, minning might not be safe as well. Like i once tried joinning a minning site and i got a notification from the site, that on the long run it would damage my Smartphone

 

[Nomad]

Musk recently announced that his company Tesla will no more receive bitcoin transaction as he believed that miners are using coal power to mine bitcoins.

 

[Ralphjoe]

The only cryptocurrency which is mining process may be damaging the environment is actually Bitcoin because the process of mining bitcoin is too energy-consuming and it emits a very high level of heat which affect the environment temperature negatively.

 

[Jlife]

due to the energy that is released into the environment during the mining process of cryptocurrency I think it might affect our environment with pollution, it is not easy and also require a lot of energy to operate mining of cryptocurrency.

 

[Alexandoy]

I have read a post in (not sure which forum) that crypto mining uses 50% of the world's energy. That baffled me because the poster might not have realized how huge the energy he is talking about. If that is the case then if we stop crypto mining then the energy supply will be more.

 

[Justin]

I read somewhere that it consumes a lot of energy to mine bitcoin and other crypto currencies. If that is actually true, I think we will have to reconsider using crypto currency

 

[Haveit]

Thanks to this platform, I know now that mining makes use of a lot of electricity which could have harsh effects in our environment no wonder chin wanted to get rid of them

 

[Busybee]

This is just a hoax. Bitcoin miners are very concerned about their electricity charges, due to the fossil fuel costs increase. Many have shifted their focus to renewable energy sources such as Wind and solar power. A Bitcoin mine does less damage to the environment compared to the old cars many drive. They are just spinning off all these stories to tarnish the image of bitcoin miners.

 

[Setho]

I know that cloud mining is going to have a lot of effects on tower and your computer but then it is not really going to have anything to do with your team provided that you guys are using equal resources.