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Form me, one of the significant criticisms of cryptocurrencies, particularly Bitcoin, is their environmental impact. The process of “mining” Bitcoin requires si
by spaintech 3y ago
Form me, one of the significant criticisms of cryptocurrencies, particularly Bitcoin, is their environmental impact. The process of “mining” Bitcoin requires significant computational power, leading to a large carbon footprint. Recent estimates suggest that the power consumption of the global Bitcoin network is comparable to the energy consumption of entire countries, like Finland and Norway. This has led to concerns about the sustainability of cryptocurrencies in their current form. Even with Prove of Stake, this is still a very high price to pay for a system that is slow, and mostly used as a speculative resource. I can’t seem to find the “real” value of Crypto, other than the get rich schemes we see, and how they end…
- scotty79 3y agoIts energy usage is very good because it can provide people who want to invest in renewables a source of revenue in the market where energy prices already go negative at times of peak production.