A single bitcoin transaction uses enough water to fill a swimming pool and simple way to earn free bitcoin

A single bitcoin transaction uses enough water to fill a swimming pool and simple ways to earn free bitcoin:-

The environmental impact of bitcoin and other cryptocurrencies is increasingly being scrutinised, due to the vast amounts of electricity they consume. Now it seems that water use is also a big problem.

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Buying or selling bitcoin uses 16,000 litres of clean water for every single transaction, which could exacerbate existing droughts around the world. While the energy consumption and carbon emissions produced by bitcoin and other cryptocurrencies have been well studied, this is the first assessment of its water use and wider environmental impact. Alex de Vries at the VU Amsterdam School of Business and Economics in the Netherlands has calculated that mining – the computational process that secures the bitcoin network – uses between 8.6 and 35.1 billion litres of water per year in the US alone. He says that bitcoin used 1.6 trillion litres of water globally in 2021, and expects this to rise to 2.3 trillion litres this year. Broken down per transaction, that means a single bitcoin trade consumes 16,000 litres of water – enough to fill a small swimming pool. This is “increasingly hard to defend”, says de Vries.

“The software solution is available. It’s just that you are dealing with a community that is fundamentally against any type of changes to their software,” says de Vries. “If you make the change you cut the majority of everything: the carbon emissions, water footprint, electronic waste, it all goes out the window overnight. Literally, the moment you make the software change, it’s all gone. Bitcoin is responsible for half a per cent of global electricity consumption, [and] we could cut this by tomorrow.”

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