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.

EXCLUSIVE MEMBER CONTENT
PSFK provides access to this article and every report, case-study, interview, and analysis that we publish for our members. PSFK Professional Membership also unlocks accessto unlimited customized research assistance and our database of over 100,000 insights on innovation trendspanning across eight industry sectors—from culture and brand to retail and customer experience.
Already a members? Log in