Building the world’s greenest Bitcoin mine
Building the world’s greenest Bitcoin mine
Meet the digital currency disruptors who are making Bitcoin mining carbon negative for a greener future.
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Cryptocurrency has the potential to revolutionize our monetary system. Bitcoin — the largest cryptocurrency — could provide people with a more secure, difficult to counterfeit, more streamlined, and decentralized financial system.
But as bullish as people are on Bitcoin, there’s been a difficult-to-ignore shadow looming over the industry — its perceived energy consumption. All cryptocurrency transactions are recorded through a process called mining. This process requires many verified crypto miners to validate a transaction by solving incredibly difficult mathematical puzzles. This acts as a way to verify all transactions in a decentralized manner — but, because Bitcoin mining requires a lot of computing power, it uses a decent amount of energy.
Now, a new data center is moving away from users to harness renewable energy at its source — West Texas.
Watch on Freethink.com ► https://www.freethink.com/sponsored/bitcoin-mining/?utm_source=youtube&utm_medium=video&utm_campaign=youtube_description
We created this video in partnership with @coinbase.
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Read more of our stories on cryptocurrency:
Behind the crypto hype is an ideology of social change
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The future of cryptocurrency: reasons to be both optimistic and skeptical
► https://www.freethink.com/hard-tech/reasons-for-optimism-and-skepticism-on-the-future-of-cryptocurrency/?utm_source=youtube&utm_medium=video&utm_campaign=youtube_description
Can we get blockchains to talk to each other?
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I miss when this channel was about actual useful and cool futuristic stuff..
Kudos,every little bit helps in the grand scheme of things
It’s a Ponzi scheme too complex for current level of majority understanding so the con continues
Thanks for the analysis! I need some advice: I have a SafePal wallet with USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?
No. Bitcoin is about money security. Security first green energy is last.
There is no future for crypto.
Only 21 million Bitcoins will ever exist.
This is not a solution.
Bitcoin mining epitomizes a dystopian dance of wastefulness and greed, as countless powerful computers churn through exorbitant amounts of electricity, leaving behind a trail of carbon emissions that accelerate climate change. All this effort is expended in pursuit of a digital currency whose value is as volatile as the market whims that govern it, creating a speculative frenzy that enriches a select few while leaving many others disillusioned and financially stranded. Meanwhile, the real-world consequences of this energy-intensive pursuit are brushed aside, as mountains of electronic waste pile up and ecological footprints deepen, all in the name of digital gold."
Thanks for the analysis! Just a quick off-topic question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?
4:05 anime youtube suggestions 😅
A more green solution to this would be a battery that stores and releases excess energy like a capacitor instead of burning off the additional energy into heat.
Aus welchen Rohstoffen wurde alles dafür hergestellt?
Welche Energiequelle wurde dafür genutzt?
Selbst wenn alles wiederverwertet und co2 frei ist, hätte man diese Ressourcen für anderes nutzen können. Selbst die Energie jetzt könnte für normales Leben genutzt werden.
unsubscribe
Bitcoon is a scam. This all is garbage. Im unsubscribing
This is cope, crypto is dead, go back to covering actual tech.
That’s fine, but nuclear power is basically green, minus the waste, which is not that big a deal.
Aaaaand unsubbed
Renewable energy is precious so don’t waste it
Comment section is filled with uninformed haters.
This makes so much sense! it eliminates peaker plants and allow wind farms to works continuously. it’s like a anti-peaker plant. one that turns off at peak demand and turn on at lowest demand so that the grid don’t need to turn off all those wind farms in low demand!! If we do enough of these bit coin anti-peaker plant, we can get rids of those natural gas peaker plants entirely!!!
It took a lot to wrap my mind around this, and many people are confused and says this is greenwashing. Freethink You better explain your stuff better or people are not gonna be happy to hear what you said
70% of Bitcoin mining is done using renewable energy.
Bitcoin mining is leading to the expansion of solar power renewable coming online. The idea that Bitcoin is pollution is absolutely false.
Consider the fiat currency devaluation and how much more people have to work to just maintain the value of their savings. THAT LEADS TO POLLUTION.
That is such a waste of ressources
Could crypto fans be wrong? Yes.
Can crypto deniers be wrong? No
I love bitcoin
Bitcoin can’t die fast enough. Such a useless and wasteful technology
Isn’t crypto dead? All it was – was an alternative medium for monopolisation of wealth
I am a fan of Freethink and I totally support it. Pleaswe keep doing the good work even when the comments are not popular because people live in a bubble.
here’s a better solution
ban cryptocurrencies
they provide no value, they waste energy, they’re an anti-social parasitic venture that should be destroyed by force
Bit coin will never be green compared to a normal electronic transaction since it requires a world wide computer network to validate each transaction by inverting a cryptographic hash. Thats a very expensive operation, these people are fooling themselves.
Is that ben affleck? 😂😂😂😂
This BS coin….I mean bitcoin is an elitist waste of energy that can be used for more useful things. However these companies use words like green and renewable to justify this ridiculous endeavor. Put these resources to better use.
Doesn’t bitcoin mining switching to proof of stake make all of this a moot point?
‘Promosm’ 💐
I somewhat get that …but I still dont understand how is putting all those resources in green grid building for Bitcoin, rather that say houses or industries? …I mean, aren´t we struggleing enough with changeing our current energy mix? …for a financial asset that requires increaseingly amounts of energy, you will eventually need insane amounts on infrastructure to support its operation. Still not sustainable. ….those are some of the issues or questions that I have no answers for yet. …like how the increaseingly amount of resources put into BTC operation are better placed there than current green economy/infrastucture transition if Bit Coin adoption still has an enormus market share yet to aquire.
Is becouse of this that I still dont understand the logic behind supporting infrasturcure for PoW in digital assets.
why not just biuld batteries that charge while access power and return the stored power during the rest of the time? – wouldn’t that make more sense?
Grid stabilization is an important goal to achieve.
Help! I can’t withdraw USDT with my phrase [obvious stay actor sunset unable assault hamster glory law cruise wire drip].
Facsinating, good strategy for the near term.
So many people in the comments still seem to not understand the importance of Bitcoin and the reasons why it should exist
How about changing the puzzle that miners have to solve into one that helps the scientific community? All that computing power being used to solve pointless puzzles, when university’s are paying millions for supercomputers. 😢
Promoting decentralized pyramid schemes wow
It’s wild reading the comments and seeing how many people are still brainwashed by these coins.
you could do the exact same thing but instead of mining bitcoin, power computation to solve actual problems. crypto can work on proof of stake (eg Ethereum), there is no reason to use more energy intensive process than necessary.
Your predictions about the future of Bitcoin are intriguing.
What a waste. Just go proof of stake.
This would be awesome if it would be used for anything but crypto.
isnt the point of the system that it isnt centralized or regulated so how are you going to get the users to use renewables?! Feels like green washing something that isnt actually doing any good.
Great, instead of using green energy to power homes, cars, etc. we use it to mine bitcoin. A currency which almost nobody uses to buy stuff 🙄