Aug 28, 18 / Lib 16, 02 17:35 UTC

How to solve electricity and pollution problems related to Bitcoin?  

Recently I started thinking about something I read a while ago and could not find its source to review it again. It was an article in which it was argued that the Bitcoin network wasn't sustainable in the long term due to the high contamination related to the enormous energy consumption associated with mining bitcoins.

I started thinking, and today there isn't a clear solution to this problem. Maybe today isn't such a serious problem, but what will happen when Bitcoin becomes one of the main sources of pollution?

There are also other questions about the sustainability of the Bitcoin ecosystem, but here I want to focus specifically on this problem.

What can we do to reduce or constantly maintain electricity consumption when mining bitcoins?

Note: I'm not an expert in bitcoin mining, I'm only attracted to the technology around it. As an economist, I'm very concerned about issues related to sustainability and Bitcoin's economy.

Sep 3, 18 / Lib 22, 02 16:04 UTC

The solution most CryptoCurrencies take to avoid wasted energy and the environmental problems that come with that, is to transition to either Proof of Stake (PoS - or, less comonly, Proof of Capacity (PoC - consus algorithms.

Jan 8, 19 / Aqu 08, 03 00:36 UTC

I agree with Christian.

The core problem cryptocurrencies are trying to solve is simply how to maintain a decentralized record. Blockchain technology is merely 1 proposed solution, but we have no obligation to stick to it.

It would be more productive to just look for new non-blockchain technologies which are less wasteful than to try and reduce the wastefulness of blockchain.

Jan 10, 19 / Aqu 10, 03 14:30 UTC

The Parliament is meeting this week (today it begins) to discuss the creation of the Economy, I believe they will be talking about Cryptocurrencies and blockchain among other ideas on how to create the currency we will be using. So stay tuned for more information to come.