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Mining destroys the planet. Is staking the future?

Mining wastes a ton of electricity that is most often produced with nuclear power or coal combustion. It creates a lot of pollution and power outages, [especially in poorer countries](https://forkast.news/inner-mongolia-shut-down-crypto-mining-chinabitcoin-miners/). Something needs to be done about this on the large scale of the cryptocurrency world, and I encourage every crypto dev out there to ditch the concept of mining for new cryptocurrencies. There is no doubt that long term, mining will become obsolete, either due to the cost of mining, or environmental protection laws if it’s not stopped early enough. Let’s use crypto for a better tomorrow, let’s not pollute the world in the name of profits anymore than it already is please.

edit: wow i really wanted to open a debate but seeing all the downvotes and negative replies that don’t address the points I make except with sarcasm within 5mn of posting, I fear my time and efforts are wasted on this hivemind. If there are smarter people out there willing to debate facts, please do contribute.



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26 Comments

  1. Why not solve this one a little smarter?

    Since electricity is used for lots and lots and lots of things and not just crypto, how about we focus on making electricity more efficient and less damaging instead of worrying about one specific way some people are using electricity?

  2. Honestly I don’t see BTC ever switching to PoS, it’s just too conservative, the entire value of BTC is it predictability (inflation, supply, technology) but the halvings will reduce profitability and hopefully therefore also electricity consumption in the long run. It’s a dinosaur in terms of technology but will remain to be the SoV.

    But other coins than BTC, PoS cannot come soon enough. ETH was originally designed as PoS and pretty much all ‘3rd gen’ coins are. Also just look at the power miners have in ETH at the moment, threatening to collude and do a 51% attack.

    Also that some are downvoting is just sad, we need these discussions on the sub even if you don’t agree. upvoted.

  3. Don’t bother discussing PoW on this sub, people just shout FUD or whataboutism without actually addressing the issue.

    I have personally sold my Bitcoin since I can’t ethically justify holding and I believe environmental regulations will catch up with it. Ethereum is the future of crypto imo.

  4. I do believe that Staking is the future, I think we can already see the difference between a Mined Coin to Staked coin in their price movements (except btc ofc)

    As a hodler i prefer to hodl a staked coin with an APY compared to Nano or XLM (although i hold them too)

    Staking make incentive people to hodl their coins therefore making less sellers than a regular coin.

  5. https://www.cnbc.com/2021/02/05/bitcoin-btc-surge-renews-worries-about-its-massive-carbon-footprint.html

    “Although we agree the amounts are ludicrous right now, that is still half as much as inactive home appliances in the U.S. consumed,” Rauchs said. The amount of energy wasted on idle home devices like phone chargers and microwaves in the U.S. could power the bitcoin network for two years.

    Your cited article stated that Inner Mongolia is shutting down mining operations and miners are leaving for other regions, some which uses hydroelectric. So if this is true, bitcoin’s problem is partially solved already. Ethereum is going POS and will reduce power consumption by a lot.

    Importantly, a large portion of commercial, centralized, large scale, *cough ASIC farms cough* crypto mining is in authoritarian countries. Those countries need to do their part to solve the world’s crypto mining pollution problem, since they created them. Unfortunately, people who run those mining farms won’t read your article, nor will they care if they do read it.

  6. I do agree the problem does not lie in the mining, the problem lies in the way we get energy atm. That is what needs to change. Even if you did switch all blockchain to PoS, the energy problem would still exist. So you gotta tackle that problem.

    Meanwhile most Crypto projects are doing their part, switching to alternativs such as PoS.

  7. > nuclear power or coal combustion.

    These two are polar opposites in terms of pollution. Do you know what you are talking about?

    > Something needs to be done about this

    Why? Because you say so? What’s your argument?

    > and negative replies that don’t address the points I make

    You didn’t make any points; you just asserted “energy use baaaad”.

  8. You didn’t appear to want a debate . No questions, no citing of sourses just axioms repeated every day that haven’t been debated fully. You started with a personal opinionated statement and title that says electricity wastes a “ton” through nuclear and destroys the planet. There is so much wrong with that first sentence and title alone
    Define a ton and wastes to start with . Studies and definitive proof please. how it destroy the planet ?
    Wastes? Blockchain mining secures! transactions so no one entity can control it. It could be debated that secure capital on your phone is safer than carrying cash . Is that a waste? Poorer countries (especially Africa) will soon benifit from blockchain and get away from corrupt wastful currencies (hopfully) Nuclear power One of the bigs pros of nuclear power is the relatively low emission of carbon dioxide (CO 2) .

    The overall point of your opinion is moot anyway . They majority of projects are heading toward POS anyway ( ETH) or are already there …Cardano . Bitcoin is becoming a store of value and there has been no studies that I could find measuring the cost in environmental impact in heavy metals like gold (mining , processing, transporting securing ) compared to mining bitcoin which is worth exploring.

    In my opinion, these micro debates distract from the bigger issues like hunger poverty war abuse mental health problems etc etc . They are important to discuss and debate but opining on unproven axioms regurgitated Ad nauseam as fact doesn’t count as debate IMAO

  9. Probably already stated, but here goes:
    The security of the oodles of transactions is driving the electrical cost… ‘mining’ is the method to maintain the security of the blockchain. Crypto power consumption is a fraction compared to the cost of traditional banking.
    Crypto, if it replaces traditional banking, would be beneficial for world Energy consumption.

  10. Cambridge estimates crypto mining to consume 121.36 TWh per year globally. Enerdata.com shows 2019’s global power consumption at 23,105 TWh. According to these numbers, crypto mining is responsible for .5% of the worlds energy consumption. If people dying from how the human race produces energy is the argument, crypto mining is insignificant. That’s why these posts get downvoted. The argument has no merit.

  11. I was gonna agree with you until you mentioned nuclear energy as something destroying the planet. That’s just an outdated thinking you’ve got there. Nuclear is the future.

    All green alternatives are utterly trash with how inconsistent they are in large city wide scale.

  12. Mining is a required part of blockchain, so I don’t think that doing away with mining is a reasonable alternative. I’m with you on lessening the impact on our planet. That’s why I prefer Etherium over Bitcoin.

    Of course, I am also VERY new to this scene and have so much to learn.

  13. You literally can’t stop the use of energy….the only thing posts like this will accomplish is the ban of crypto, why because government can control it so they hate it and will use anything as an excuse to get rid of it.. be carful of what you wish for

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