Could Bitcoin Mining Be An Environmental Nightmare?
Even digital digging can have an impact on our ecosystem.
Bitcoins are the virtual currency that have been garnering a lot of media attention since their inception in 2009. Not only have they attracted attention, they have also increase greatly in value thanks to speculation and talk of a new global currency. Now though, a new issue has presented itself, the fact that “mining” the currency is actually intensive enough to pose a threat to the environment in the real world.
Mining for the coins is a process that involves solving processor-intensive equations. This process is intensive for a reason – it reduces the chances of flooding the market with currency, and therefore devaluing it. As more miners come onto the scene, the processing power required to retrieve the coins from a digital mine also increases, further controlling supply and demand.