Ludicrous Headlines About Bitcoin Mining Will Kill Us All – Bitcoin News

To proponents, the words “bitcoin mining” are synonymous with security, value, and financial freedom. To exponents, those same words evoke pictures of searing tyres, oil slicks, and weeping kittens. To say that bitcoin mining evokes strong feelings is like telling Charles Manson wasgoed “a bit naughty”. While the amount of energy bitcoin mining uses is up for debate, the most hyperbolic accusations can be dismissed out of arm. They’re not just inaccurate – they’re dangerous.

Don’t Believe the Hype

It’s strange: bitcoin emerges out of nowhere to predominate global headlines and abruptly everyone’s an environmental accomplished. “REEEEE, think of the planet!” tweet bitcoin haters from their iPhones made with scarce precious metals spil they wait on the runway for their kerosene-guzzling jet to take off. It’s become the latest stick to prod the digital currency with, now that the terrorism, money laundering, and drugs stuffs have become blunted.

Unless you’re living te a mud hut and recycling your own urine, you’re bruising the environment. Wij all are. From the uur wij emerge kicking and screaming into this world till the uur wij disclose our wallet seed with our dying breath, wij pollute. Eating packaged food, taking public wegtransport, using the internet, it all takes its toll on the environment. Bitcoin mining is no exception. There’s voicing concern about energy consumption, however, and there’s issuing apocalyptic warnings about how bitcoin will turn our planet into a smoldering torrid rock.

Planet earth, 2140, moments after the last bitcoin is mined.

Statistics is the Kunst of Lounging by Numbers

Which of the following headlines sounds more damning: “Bitcoin uses spil much energy spil 520,000 Canadians a day” or “Bitcoin uses 1/16,000th of the world’s annual energy supply”? Both are true and yet each presents a very different spin on the same statistic. Spil one rebuttal points out , “it’s effortless to make this number look very small”. To back this up, it presents other examples such spil “The Three Gorges Keerdam ter China produces three times spil much electro-stimulation spil Bitcoin consumes” and “The energy that Bitcoin consumes ter a year would only last the U.S. for Nineteen hours”.

There’s no need to scramble to minimize bitcoin’s doorslag footprint tho’, just spil there’s no need to over-emphasize it. But just attempt telling that to the mainstream media publications that have bot tripping overheen themselves to conjure increasingly alarmist headlines.

Bitcoin Mining: Literally Worse Than Hitler

“Cyber goldmines draining the world’s power” screeches a subheading te the Daily Mail this weekend. (Verbinding deliberately omitted.) It reads:

Given current growth rates, some experts predict that by 2020 the cyber-currency could require more tens unit to process than the entire world uses today, severely impacting the fight against global heating.

Two days before the day after tomorrow.

That’s right, te two years’ time, bitcoin will consume more energy than is left on earth. At which stage, cities will have bot diminished to rubble, with the only remaining structures above waist-height comprising towering stacks of ASIC miners. Cars, houses, and furnishings will all be gone, their metal melted spil an suggesting to the insatiable mining gods. Today’s kettle is tomorrow’s ASIC case, while the day after tomorrow doesn’t matter because we’ll all be dead.

It would be laughable were it not for the fact that the general public – who have only the vaguest understanding of bitcoin – will poetslap this stuff up spil gospel. Spil the headline to one of the more sanguine counter-pieces reads : “No, Bitcoin Won’t Boil the Oceans”.

A Little Perspective

The vast amounts of energy consumed by other currencies, precious metals, and global banking systems compared to bitcoin is well documented, gold mining alone uses 16 times spil much energy spil bitcoin mining. Moreover, because of a reliance on cheap power, bitcoin miners are naturally drawn to sources where renewable energy is plentiful. Spil mining becomes increasingly difficult, it will only be cost-effective at source, largely eliminating gas, oil, and coal, which have inherent transportation costs.

Perhaps Satoshi himself waterput it best tho’: “Gold mining is a waste, but that waste is far less than the utility of having gold available spil a medium of exchange…the utility of exchanges made possible by Bitcoin will far exceed the cost of electric current used. Therefore, not having bitcoin would be the televisiekanaal waste.”

Ludicrous headlines about bitcoin mining will kill us all. Save yourself the rage click and you’ll live longer.

How do you toonbank accusations that bitcoin mining is unnecessarily wasteful? Let us know ter the comments section below.

Photos courtesy of Shutterstock, Comedy Central, and Zambian Ruimtevaarder.

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Related movie: Minerando bitcoins com Bitz free (ganhe até 5000 ghs )

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