Cryptocurrency Q&A
Why are people against blockchain?
Why are people against blockchain?
ShadowFox
Sun Nov 03 2024
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5 answers
1298
Some people are against blockchain due to concerns over its security, scalability, and environmental impact. They believe it's vulnerable to hacks, not efficient enough for widespread use, and consumes too much energy.
5 answers
CryptoVisionary
Tue Nov 05 2024
The mining of Bitcoin is highly concentrated, with a handful of states in the United States housing the majority of mining farms.
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SsangyongSpirit
Tue Nov 05 2024
Blockchain networks employing a competitive mining process consume vast amounts of energy, which is a well-known fact.
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CharmedClouds
Tue Nov 05 2024
Among all cryptocurrencies, Bitcoin stands out as the most energy-intensive. This is primarily due to the complex algorithms involved in its mining process.
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Daniele
Mon Nov 04 2024
These mining farms rely almost exclusively on fossil fuels to generate the energy required to power their mining equipment.
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Tommaso
Mon Nov 04 2024
The reliance on fossil fuels not only contributes to environmental degradation but also highlights the unsustainability of the current mining model.
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