Is Bitcoin much better for the environment than many environmentalists: think inside? A team of the with confirms positive environmental effects of the cryptocurrency and argues for an enormous contribution to environmental protection.

Is Bitcoin much better for the environment than many environmentalists: think inside? A team of the with confirms positive environmental effects of the cryptocurrency and argues for an enormous contribution to environmental protection.

is Bitcoin much better for the environment than many environmentalists: mean inside? In a recently published paper, a team of the cryptocurrency is positive about the environmental opportunities-and thus confirms the argumentation of many Bitcoin enthusiasts. The team even argues that the BTC network has the potential to make an enormous contribution to environmental protection and to slow down climate change.

The proportion of the BTC network in global electricity consumption is currently around 0.1%. The reason for this is that Bitcoin mining requires large amounts of energy for the validation and encryption of the transactions. Therefore, the cryptocurrency always ensures discussion under environmentalists: inside and climate activists: inside.

Some of them argue that the network's CO2 footprint is far too high-or even call for a Bitcoin ban. Others, in turn, see the innovative strength of the new technology a huge opportunity for the environment - as well as a team of the MIT. In a recently published paper, the team recognizes the argumentation of many Bitcoin enthusiasts.

This is how the BTC network creates an incentive to expand the network of renewable energies: In the paper, the team writes:

"Renewable energy sources such as wind and solar energy are characterized by fluctuations, which leads to an inconsistent and non-controllable electricity generation (...) A higher and more stable demand for electricity from renewable energy sources can promote it, whereby the production costs are reduced by scaling."

But that's not all: In the near future, cryptocurrency could even help to curb the greenhouse effect by using methane emissions for energy production.

In particular, the USA can actively promote environmental protection, according to the co-team thanks to the BTC network. In the country there are numerous abandoned raw material systems that still release large amounts of methane.

This can theoretically be converted into the much less harmful CO2 by combustion. As the MIT team writes, the effects on the climate are almost 100 times more harmful than the same amount of CO2. But here, too, there is often a lack of financial incentives to do so. This is exactly where the Bitcoin comes into play: Miner can use the electricity that you gain by burning the methane ("Gas Flaring") to operate your mining systems.

This does not solve the problem that massive environmental damage causes massive environmental damage. Nevertheless, the cryptocurrency can clearly benefit the environment. As BeinCrypto already reported, a group of companies even plans to achieve a negative CO2 balance for the BTC network with a $ 400 million funds.

Of course, this does not mean that the cryptocurrency has not yet contributed to environmental damage. However, the argumentation of the co-team shows that in the end everything only depends on how people use the technology. A BTC ban does not prevent people from polluting the environment. A conscious handling of technology, on the other hand, offers incredible potential to solve or at least contain current environmental problems.