Everywhere you go people are talking about Bitcoin as one of the most invest able opportunities out there, but everyone is also a bit wary about it because it’s so mysterious and nobody knows what the hell is going to happen with it.Nobody knows when it will vanish or completely erase itself or spread itself around every corner of void.
Well thats very much true but Eric Holthaus in his article Grist he states in the next couple of years, the energy requirements for Bitcoin are going to become untenable and this could seriously affect the climate of the Earth as well.
Here s what he said:
"Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the US for one day.And miners are constantly installing more and faster computers.But what they might not have accounted for is how much of an energy suck the computer network behind bitcoin could one day become.Simply put, bitcoin is slowing the effort to achieve a rapid transition away from fossil fuels.What’s more, this is just the beginning. Given its rapidly growing climate footprint, bitcoin is a malignant development, and it’s getting worse. In just a few months from now, at bitcoin’s current growth rate, the electricity demanded by the cryptocurrency network will start to outstrip what’s available, requiring new energy-generating plants.
And with the climate conscious racing to replace fossil fuel-base plants with renewable energy sources, new stress on the grid means more facilities using dirty technologies.By July 2019, the bitcoin network will require more electricity than the entire United States currently uses.By February 2020, it will use as much electricity as the entire world does today.This is an unsustainable trajectory. It simply can’t continue."
Even though crypto curency is providing a platform for the people to earn it could really be pain in the ass in future. Everything seems to have negative effects. I hope what he says doesnt come true.
