A pool of water per transaction?

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a pool of water per transaction?

Bitcoin mining consists of solving very difficult mathematical problems with very powerful computers. And what is that for? Well, to validate the transactions made in Bitcoin and maintain the security of the network. But there is a problem: this process uses a lot of energy, so Bitcoin is said to use more electricity than some entire countries. And that’s not very good for the environment, especially if the electricity is produced with polluting sources, like coal or oil.

Of course, this also applies to everything that consumes electricity, such as your cell phone, your television or your microwave. But Bitcoin suffers because it consumes a lot of electricity. Is that fair? Is Bitcoin the ecological villain? Or are there other ways of looking at the matter?

How much electricity does the Internet use? Or how much electricity do you use every time you wash your clothes? Or how much energy do all the light bulbs in all the houses in the world use? These are the things we take for granted and seem normal to us. But it turns out that everything also has an impact on nature, and maybe more than you think. However, no one was shocked by this, nor was there a campaign to turn off the Internet or stop doing laundry. But when it comes to Bitcoin, things have changed.

It turns out that Bitcoin uses a lot of electricity, right, and that makes it bad, bad. Because? Well, because Bitcoin is not a basic need, but an “unnecessary” invention (for its critics) that only serves speculation and enrichment. In addition, Bitcoin is based on mining, which is a work that does not contribute anything useful, it only consumes resources. This is done to make it difficult to get BTC. But we know that this is an artificially imposed mechanism. So Bitcoin is the enemy of the planet, and we need to end it. Or not?

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Have you been told that Bitcoin is bad for the environment? What pollutes more in the whole country? What is the threat to the future of the planet? Well, Bitcoin doesn’t pollute. Bitcoin is a code. A code that works thanks to a network of computers distributed around the world, responsible for validating transactions and maintaining the system. And what’s wrong with that?

The thing is that these computers consume a lot of electricity, and that electricity is sometimes produced with sources that are not very ecological. And that pollutes, a lot. But the fault is not with Bitcoin, but with power plants that use irreversible methods. If the electricity is produced using solar, wind or hydroelectric energy, the problem is greatly reduced. Electricity does not pollute, electricity spins atoms. What pollutes is how electricity is produced.

Now, Bitcoin do you spend a pool of water per transaction? I mean, is it because of us that people are dying of thirst? Well, it’s not a big deal. That claim that with Bitcoin you spend a pool of water per transaction is, in my opinion, an exaggeration.

It is true that Bitcoin mining consumes a lot of water, but not because the computers drink it, but because they use it for cooling. And Bitcoin mining computers are plentiful, and very hot. And if they are not cooled, they can burn. Many miners use water to keep their machines from breaking down.

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But that doesn’t mean that every Bitcoin transaction wastes a pool of water. Those numbers games can be confusing. They use it to create a mental image so that we have an idea. But it can’t be too literal.

According to a study by the University of Cambridge, Bitcoin mining uses about 204.5 million cubic meters of water per year. That is more than the water consumption of some countries, such as Portugal or Israel, but less than others, such as Spain or France. As such, it seems like consumption from another world. How much water does the car industry consume?

But there are solutions to reduce the impact of Bitcoin. As I have suggested, one is the use of renewable energy for mining, such as solar, wind or hydroelectric. Another is to change the mining algorithm to one that consumes less energy, such as proof of stake.

In short, Bitcoin is not as bad as they paint it, nor as good as they praise it. This is a new technology, with advantages and disadvantages.

Mining is not about digging in the ground or using a pick and shovel. It’s about solving problems with a lot of effort and resources. It takes a lot of electricity and water to keep computers running. In addition, the problems become more difficult every time a new block of transactions is created. This makes mining more expensive and competitive. Only the most efficient and dedicated miners will make a profit. The rest are left with crumbs or withdrawal from the game.

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The idea behind mining is that you cannot create bitcoins from scratch, copy them, or print them. You need to get them work and resources. This, whether we like it or not, has an effect on the planet. Bitcoin is not the only technology that pollutes, but that does not mean that mining consumes a lot of resources, some more polluting than others.

What can we do to make Bitcoin greener? I would say the solution is to invest in clean methods that are cheaper than dirty methods. And design more efficient cooling systems. This way we can mine bitcoins without burning the planet. Isn’t that great?

Trouble. But, really, it’s not as easy as it seems. Clean methods require a lot of research and development. And cooling systems are very expensive and complicated. In addition, not all miners are ready to change their habits. Others want to continue using cheap and polluting energy. Some do not have access to renewable energy sources. And some don’t care about the environment at all. So the solution is not only technological, but also social and political.

We need to raise awareness, educate and regulate miners. And also to Bitcoin users. Because we are all responsible for taking care of our home. Our home is not only the place where we live, but also the planet we share. Our home is home to millions of species, beautiful landscapes, natural resources, diverse cultures. Our home is the setting of our history, our dreams, our challenges. Our home is the most precious gift we have, and also the most fragile.