Is Bitcoin Bad for the Environment? | Cryptoland Roundtable
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- Опубликовано: 27 июн 2022
- Bitcoin mining is booming, and it uses a ton of energy. Mining businesses today are flocking anywhere they can get cheap energy, and promising to make efforts to be more green.
In this Cryptoland roundtable, VICE News’s Krishna Andavolu sits down with Alice Hines from VICE News, Motherboard’s Audrey Carleton, and Digiconomist’s Alex De Vries to talk about how mines are dealing with their energy needs, and what that means for the environment.
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Oooof this was hard to watch. The willing ignorance around how bitcoin works and the reason it uses energy the way it does just shows me how early we still are on the path to a bitcoin standard.
It is ridiculous to see spam bots responding to other spam bots just to promote some crypto scammers in some kind of weird digital circle-jerk of multiple spam bots.
What's the point of comparing the staking sites if there is Cross Staking
It's good to give clueless interns a chance to have a panel every now and then.
Can you please re-upload without the annoying background sound effects?
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This should've been a 90 second video. Dump the talking heads and present data. Wtf is this
"How much enviromental effect is there" Considering 70% of bitcoin is green energy, around 30% of which wouldn't even exist without bitcoin, and the percent of possible flare gass and methane that could be reduces about .2 degree global reduction or the same as the global goal to put is in "safe levels" according to the recent studies.
Most natural gas isn't flared it's just allowed to leak out, the reason the pipes were turned off is because they were unsafe period, not just enviromentally unsafe but kaboom unsafe. It's also false to think that lack of it "deincentivizes oil production" as the natural gas is a byproduct of oil production ie nobody is opening oil wells to mine bitcoin from it's waste product.
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wtf did I just watch and why did I even watch for 20mins, Vice really changed from what it used to be
Those were some dumb kids playing adult without many facts..
I would challenge them to a battle of the wits, but I see they are unarmed!
Doesn't proof of stake just lay the groundwork for consolidation of currency ownership and ultimately a centralization of the currency as a whole?
This is the goal. One world monetary system, one world authoritarian govt. One unaccountable government. The antichrist.
heard arguments for both, the guy who made link thought the outcome of that happening is too theoretical. But its only theoretical until it isnt.
yes, because the more you have of a coin to stake, the more influence you have on governance. it also affects staking as a validation protocol which incentivises the largest holders to stake for rewards. it's a feedback loop which will only lead to a small group that owns and controls the network. you're better off just having a centralized service at that point.
Is Gold mining bad for the environment?
That's a good subject. You should bringing some people that actually knows what they are talking about.
Why would you not have somone who understands how btc and L2 solutions work in such a discussion?
The soundtrack during the conversation was a little much, not trying to go on a spirit journey while listening to people explain bitcoin.
I'd recommend inviting guests with more expertise.
These people sound clueless but are definitely the smartest people in the room when they are alone.
Alex is incorrect. You don’t simply change the consensus algo from PoW to PoS. The system you’re left with will be fundamentally different.
one hour to say yes
this is video is ridiculous... like ofc it is bad for the environment and these videos are pure propaganda. vice should be ashamed of themselves.
The obvious lack of true understanding of BTC is a bit frustrating. Might be a good idea to invite a professional next time.
Bitcoin congestion is a feature not a bug
you also factor in the rare earth metals and all the other materials, including petroleum based plastics, needed to build those single use computers, routers etc. needed for mining.
and, in response to one of the reporters, i don’t drive a car, and everyone should do so much less.
Haha. You virtue signal that you are not driving but I’m sure people drive food to you. Your woke delusion has gone to your head.
@@PD-we8vf i bike or walk to grocery store. about a mile and a half. i stock up before winter, because it really snows around here. i grow micro greens & sprouts at home all year, veggies in containers in the summer. there is a local bus as well, although i’ve never taken it. sorry to disappoint.
@@PD-we8vf You realize that one person doing delivery for multiple people is still considerably better than each person driving themselves, right? Or are you one of those people who think criticism can only be valid if you literally live in a shed without electricity?
@@PD-we8vf no snappy reply? no actual engagement on the issues and policies surrounding this topic? no desire to go into depth on your feeble and wimpy response?
@@aitchtea ha ha unlike you, I do not live on the internet virtue signaling. Get out and touch some grass. Irl.
You do realize trucks bring those groceries to the store right?
The background music is really distracting
“Electric power is everywhere present in unlimited quantities and can drive the world’s machinery without the need of coal, oil, gas, or any other of the common fuels.”~~~Nicholas Tesla ✌️🤓
Based on this quote, you would think he was quite an idiot, a nutjob.
I'm the boss here.... I get to use all the naughty words and no one else!!!
Entertaining, but can you please stop with the background music. Totally unnecessary.
It's hilarious that this issue is being brought up when over 90% of Bitcoin have already been mined and are tainted by dirty energy
information scientist sounds more useful than data scientist. information is the processing of data to derive something useful. data is just data. unprocessed. it’s just there.
The answer: Yes, Yes it is
This channel will bring on anybody but people in Bitcoin. What is this channel avoiding?? What are you guys afraid of??
I'm still waiting on 'negative-emission coin'
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*Yes*
"Its bad for the enviroment by design" is complete bullsh-t. It's good for the enviroment by design. 1 most companies only use "green energy' up to the point of their tax credit, except for companies who use bitcoin because miners make their margin off the saved cost of energy. If a home miner for instance is running off him home computer he's spending more money in energy than he gets for selling bitcoin. So then he "speculates" holding the coins for a year or two, then sells the coin to buy solar panels on his roof so he can run his home and use the access energy to continue mining as it works as a "energy sink" since the majority of green energy has to be wasted in overproducing to cover the times production is low. Mathmatically you have to put in solar panels 4x your needs for summer to cover your losses durrning winter. That's just one example the same concept works for all alternitive energy cases.
In Proof-of-Stake, 51% of participation is needed to take control of the network. In practice the PoS network tends to have a participation rate of between 10% and 30%, and the 2-3 largest exchanges collectively tend to own between 10% and 50% of the total supply. This means a single exchange can take control of the network. And then also in practice most of the staking is performed by a small number of outsourced staking firms, which increases the power concentration even more. And it also makes hard forks more traumatic because your economy and your consensus builders are fundamentally intertwined. You can't fork an exchange off of the network without also disrupting every single user that parks funds on that exchange. The same concern doesn't exist with PoW mining.
You also don't need "51%" because you are wrongly assuming everyone is participating who own a stake, where is structually you do need 51% of the hash rate because it is everyone hashing that is making up the percentage of the network.
I have seen the best interest rates only at staking sites with Cross Staking technology
Brutal. Still haven’t bothered to do basic research. Have fun staying poor.
Transactions have no "carbon minimum" you're conflating the current use of miners to transactions, also miners have no minimum for the network it scales to the security needs based on the network usage. There have been multiple bitcoin derivation with different sizes and power usages and it all comes down to how much security is necassary for the amount of people using the network, which has no direct tie to the transactions on the network. Or to put it simply blocks will continue to be pumped out every 10 minutes if there's no transactions or if the entire network is filled, the security is based on the preceived prive of the coin and how many miners are used to ensure a fair system.
"If there is no mining there are no transactions" is true but there's no "minimum" to this as there's no minimum to the amount of mining required, it's called block adjustment look it up. Also the transactions typically have and do go for 0 value, so according to the inverse of his failed logic there would be no miners. The fact is mining and transactions are economicialy/ functionally detached from each other in that sense.
Are humans bad for the environment? Yes...so by default Bitcoin mining is. Seems like a dumb questions. Anything this energy intensive and that so many are competing against each other to get at...It is a scam that feeds on what drives us as a society...GREED.
Lmao a panelist says Miners don't actually add to the grid, then proceeds to explain how they're building wind and solar plants because it makes sense in Texas. Gtfo
So you also noticed how clueless they are!
Well done to Alice. She doesn't pretend, she didn't prelearn the talking points. She is curious.
Is the pope catholic?
Pope's a Satanist, so yes, Catholic.
Does a bear shit in the woods?
Something to consider is that the more bitcoin is accepted, the more gold pollution lessens which atm is worse than bitcoin. Its like if home phones made 10 pollution to create and mobile phones made 5, the adoption of the latter is a net positive.
Yes. It's simply unsustainable. Especially when we need all of the grid power we can get for upcoming EV's.
Serious lack of understanding here. You need to do more work.
Btc 🚀🚀🚀🚀
Read the room, Vice. There is an energy shortage as many countries are now finding themselves with a severe lack oil and gas imports. Scaled green energy is still years off with the plans only just not being laid.
Inflation is up and wages are stagnated. Nobody who isn't already into crypto have the means to get in and make any sort of gains. Bitcoin is unattainable after the first 2-3 years of easy mining long ago and you need industrial scale operations to get anything, with equally cheap power supplied.
Any new adopters are just allowing Old Bitcoin Money to cash out.
Your grift has made you delusional.
yeah... this is where i stop watching this series. the interviewer doesn't even know what a pi is? how the hell is he conducting tech interviews on something as complex as cryptocurrency?
Here let me save you an hour. Is Bitcoin Bad for the Environment? Yes.
Bitcoin is bad for your finances 🤣🤣🤣
Lots of wishful thinking to the contrary, it's not sustainable.
First
At 3:00 she literally describes how a decentralized System becomes more and more centralized and therefore useless.
She described proof-of-stake
Research proof of stake
YES... AND ITS USELESS
This subject has been discussed into the ground. I'm sure it will be informative assuming you have never heard of BTC or BTC mines which is unlikely. I made it about 2 minutes mostly bc I was typing this. Unsubscribed.
Oh no! Not J.L.! Who will we lose next?
@@xensonar9652 the info is very old. The market is in flames and these people want to talk about information that has been regurgitated for years! How about they dive into the clusterfuck that is the crypto market vs this crap. Thanks for the flashback to 2016, though!
Cypto is designed around wasted computation work. It's seriously flawed and bass ackwards
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Yes. saved you an hour.
Best thing for the environment is human depopulation
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