$11,390.81 1.91%
BTC · 28w

I want to put my money into Bitcoins but I have reservations.

I want to put my money into Bitcoins but I have reservations. Thanks to everyone who make sincere efforts to clarify the following doubts 1. How much energy will the Bitcoin network consume if BTC is valued at $100000? 2. How will the Bitcoin network sustain if all the Bitcoins have been mined? 3. We know that energy is a finite resource. Technologies that consume less energy for similar or better output get preference. That's what propagates the innovation in combustion engines. Bitcoin is far behind several of the available alternatives. 4. Bitcoin is unfit for everyday transactions. Because it is slow. 5. You can find studies that highlight the fact that the majority of Bitcoin mining is concentrated in few geographical regions. 6. I don't agree with the notion that Bitcoin is a store of value like gold. People do mention that there is an infinite amount of gold in the universe without even knowing that it will take a huge amount of energy to extract that gold and don't even think of bringing it back to earth. Gold is useful in several scientific applications. 7. Are there scientific studies to show that Bitcoin has improved the living standard of the poor of the world? Those are the ones who will suffer the undeserved consequence of global warming.
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