Bitcoin Cash: The Eco-Friendly Bitcoin

Bitcoin Cash offers a robust and efficient payments network with minimum impact on the environment. Fast and virtually feeless transactions are the essence of Bitcoin Cash.

Concerns have recently increased about the energy demands of Bitcoin (BTC) and the environmental footprint of this network.

Meanwhile, ignorance on the topic presents today both a danger and an opportunity for Bitcoin Cash if it manages to explain the environmentally friendly aspect of operating.

Bitcoin (BTC) appropriates global resources without efficiently producing an equally valuable service to our societies.

Bitcoin Cash, on the other hand, presents an efficient alternative, maintaining a decentralized and robust payments network with high security and low energy demands.

Bitcoin Cash operates and produces a valuable service to the world, using just a tiny fraction of the energy demands of BTC.

BTC Will Be Targeted Severely For Its Inefficiency and Resource Demands

(source)

We are about to witness a heated debate between Bitcoin mining supporters and a group containing governments concerned over Bitcoin's impact on the environment.

The BTC side will categorically deny PoW mining pollutes or that BTC mining creates an additional cost to the environment. 

Governments utilizing environmental groups will proclaim Bitcoin is the root of all evil damaging the environment irreparably, and needs to be controlled and limited.

Both sides will try to manipulate the public opinion with deceiving arguments while serving different purposes rather than environmentalism or Bitcoin.

Bitcoin is the perfect scapegoat to turn the attention from other polluting industries since its environmental footprint is increasing, as BCT mining keeps rising.

The Bitcoin (BTC) network indeed has an issue, though.

The energy demands of BTC present the most inefficient use of electricity in history.

Bitcoin Cash uncovers this reality, presenting far better results with limited energy requirements.

BTC, also presents today nothing else but a crippled network and an underlying asset driven by speculation instead of utility.

P2P Electronic Cash is a phrase removed from the vocabulary of the Bitcoin developers. Instead, Bitcoin Core (tied to Blockstream's interests), all this time promoted a speculative rally for BTC while dismantling the network of its qualities.

(source)

The data presents millions of metric tons and not metric tons, as Messari mistakenly suggested. We can still observe that Bitcoin (BTC) mining has reached a considerable size of carbon dioxide emissions.

200-250 Exahash of power supports this network today but does not produce equal or higher utility to the world to justify this energy consumption.

The same stands for the gold industry, since gold lost most of its economic relevance in the previous century.

The rest of the industries like the automobile and transportation produce extensive carbon emissions.

However, these industries deliver substantial benefits as well. What is BTC producing besides speculation?

The current group that controls developments of BTC (Blockstream) made a horrible (or intentional?) blunder by suspending Bitcoin's scalability indefinitely.

Today BTC is inoperable unless BTC owners utilize its sidechain, the Lightning Network. This sidechain is field-tested today in El Salvador with a rather peculiar approach, enforcing the use of government-regulated and controlled wallets (Chivo, Strike), and distorting the fundamentals on which Bitcoin is based.

Third parties become the norm with the Lightning Network since its design promotes the creation and use of financial (regulated) hubs.

Bitcoin Cash, an Environmental-Friendly Bitcoin

Bitcoin Cash requires less than 1% of the resources of the BTC network.

Source: monsterbitar, by Jonathan Silverblood

The development side of Bitcoin Cash (BCH) consists of various groups of programmers and data scientists that care for efficiency and the environment, offering a solution far more efficient than Bitcoin (BTC).

The data is approximate but still explain how Bitcoin Cash achieves better efficiency without damaging the environment.

It is statistics that represent the actual use case of Bitcoin Cash as P2P Electronic Cash for the world.

Bitcoin Cash success is based on efficiency in all metrics and network scales.

Cost in terms of energy, money, time, and network latency is the priority of Bitcoin Cash.

The PoW (Proof of Work) vs Pos (Proof of Stake) Environmental Comparison

PoS, or Proof of Stake is a transactions validation and block creation mechanism that has its pros and cons.

PoS tokens will present their environmental-friendly approach, however these networks have also proven so far their disfunctional decentralization terms.

Networks as Iota or Solana could be offering a viable solution not damaging the environment, however they are overly centralized with a team of developers deciding even their operational terms. Iota in the past was forced to shut down for weeks by its developers, and Solana has so far suffered three network outages, forcing the network to shut down and restart.

PoS is not a viable solution since most validators in most PoS networks belong to the underlying foundations of these networks. Only in PoW decentralization (of mining) is measurable and verifiable.

A network that shuts down for repairs is not decentralized, effectively canceling the fundamental principles on which cryptocurrencies base their success.

PoW when performed effectively has a minimal effect on the environment with the effective use of resources:

(Top PoW networks and Co2 statistics- source)

The above (Bitcoin Cash, Ethereum, Litecoin, Dogecoin, BTC, Dash, and ZCash) are secure PoW networks that have never been successfully 51% attacked, with Bitcoin Cash representing the most efficient and environmental friendly example.

Indicators from trusted sources are making a solid case that even in full capacity Bitcoin Cash presents an eco-friendly PoW network, more efficient than the vast and complex banking network system.

In Conclusion

(source)

Bitcoin Cash is the Bitcoin version that added scalability and can serve billions of people in need of inexpensive and fast digital cash. Bitcoin Cash is a viable alternative, not just to BTC but also to the banking system as well since it consumes appropriate energy sources.

With a cost-efficient and technically advanced network (with higher blocks capacity), Bitcoin Cash presents the best solution for P2P digital cash.

Considering the operational demands and carbon dioxide footprint on the environment of the banking networks with PoS and e-Commerce, Bitcoin Cash should not belong in the same bracket as BTC when Proof Of Work is discussed.

Any (government) decision based on environmental concerns should include research on each network and a separation between working and dysfunctional PoW blockchains.

Examining the root of the problem will avoid the punishment of networks that can offer immense value to our societies.

Bitcoin Cash is an eco-friendly payments solution that should be regarded independently from other PoW networks in any decisions taken by regulative bodies.

• Cover Photo: by " Qingbao Meng" on Unsplash (modified)

Links:
coincarboncap
monsterbitar.se

Copyright Disclaimer:
Material published in this content, is used for entertainment and educational purposes and falls within the guidelines of fair use. No copyright infringement intended. If you are, or represent, the copyright owner of images used in this article, and have an issue with the use of said material, please notify me.

Posting on:

● ReadCash ● NoiseCash  ● Medium ● Hive ● Steemit   ●Vocal  ● Minds ● Twitter  ● Facebook ●Reddit ● email ●telegram

Don't forget to Subscribe and Like if you enjoyed this article!