The Future of Bitcoin is Green
Comparable to the Internet in 1994, Bitcoin is at the beginning of a yet unpredictable, great development. Many aspects that are currently being criticized are similar to teething problems. This also applies to the criticism of mining, that is, the process that makes Bitcoin transactions possible.
Mining requires a large amount of electricity due to the computing power that makes Bitcoin so secure. As long as Bitcoin is mined based on fossil fuels, it retains a high environmental impact.
Therefore, it is inevitable that Bitcoin mining will only be environmentally friendly and climate-neutral in the medium to long term. The mining will most likely take place in regions characterized by an abundance of renewable energies.
Digiconomist Copyright ©. (2019). Bitcoin Energy Consumption Index. Retrieved January 31, 2019, from https://digiconomist.net/bitcoin-energy-consumption
G.F. (2018). The Economist explains: Why bitcoin uses so much energy. Retrieved January 31, 2019, from https://www.economist.com/the-economist-explains/2018/07/09/why-bitcoin-uses-so-much-energy
Northern Bitcoin AG. (2018). Half-Year-Report. Frankfurt am Main. Retrieved from https://northernbitcoin.com/wp-content/uploads/2019/01/Northern-Bitcoin-Half-Year-Report-2018.pdf