This is a topic that many cryptocurrency citizens or people who have investments in cryptocurrencies do not like to touch. And if we must look for a flaw in this beautiful ecosystem of cryptocurrencies, we must talk about the energy problem we are experiencing and the high energy consumption generated by mining equipment for BCH, BTC and other cryptocurrencies.
We are at a turning point in history
I do not want to alarm anyone, but we are at a crucial moment, it seems that oil reserves are increasingly difficult to exploit, and many of the technologies that we thought were renewable, no longer seem so good and efficient. This is an issue that we all knew for a long time, but we did not want to pay attention, however, a few days ago important people in the financial and political sphere have pointed to Bitcoin as a process that generates high energy consumption, i.e., it seems that now they will attack cryptocurrencies for the issue of high energy consumption.
Does cryptocurrency mining aggravate the energy problem?
It is no secret that yes, cryptocurrency mining is generating higher energy consumption. But this does not mean that all the energy problem that has existed for decades is the fault of Bitcoin or other cryptocurrencies, so we must prepare ourselves colleagues, soon many governments seeing that they are losing power over money will want to ban cryptocurrency mining and even make miners pay a special tax, which will surely be very high, so high that they will not be able to continue mining, unless cryptocurrency prices rise and a lot.
Everything that has value deserves energy expenditure
We should think as a community from this point on, already many politicians are on Bitcoin, because of the fact that mining is generating a lot of energy consumption. However, we can defend ourselves, and that is why I want you to read very carefully what I have to tell you:
Imagine you are walking down the street and you get a friend who is against cryptocurrencies and believes they are worthless. Well, surely your friend is going to tell you that Bitcoin generates a high energy consumption and that this generates a great damage to the environment and that it should not be mined anymore. In the face of this type of attacks on Bitcoin and the world of cryptocurrencies, we must respond by saying that everything that has value deserves to generate energy consumption.
A clear example is gold, for those who do not know, extracting gold requires a lot of energy and expenditure of valuable natural resources, this means that gold is expensive not only for its use, but for all the monetary expenses involved in extracting it. So is Bitcoin, Bitcoin Cash and other currencies, their price is higher because of everything involved in mining them. But Bitcoin is much better than gold, and here's why.
Bitcoin is better than gold
Both gold and Bitcoin are two products that cost a lot of money and have a value that must always be revalued. In addition, both need a lot of energy consumption to exist, so we can say that they are very similar, but why do I think Bitcoin is better? Well, I think it is better because of the fact that behind Bitcoin there is not the term "illegal mining", that is, behind gold there are illegal mines, in which many human beings are despised and enslaved. I cannot say that this is gold's fault, but it is a reality that exists around this precious mineral.
In Bitcoin Mining and other cryptocurrencies we can say that no human being is forced to anything in the process, and there is nothing illegal, no weapons, no control, no enslavement of people. That is why I believe Bitcoin better than gold, of course gold will always be gold, but Bitcoin will also be Bitcoin, today, tomorrow and forever.
Of course using energy is what the biosphere has always done. Human beings who are part of this bisophere use energy. Apart from the e-waste of obsolete mining equipment which is a problem, bitcoin mining is otherwise a zero pollution operation. Electricity goes in and heat and money come out.
If your friend starts talking about the hockey stick graph inform him that the graph was two distinct data-sets joined together and the author of that graph coud not even produce the original data for a court of law.