Lib 16, 02 / Aug 28, 18 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.