Mining benefits humanity

Mining brings undeniable benefits to the entire humanity

An analyst at Unchained Capital has expressed his opinion on the benefits and harms of Bitcoin mining in relation to humanity.

The expert reminds that when a BTC coin is transferred from one wallet to another, the transaction is confirmed. Of course, it involves more than one computer. So, in the end, the transaction is signed and then “invested” in the blockchain.

The expert calculated that the network load is currently equal to 75 exa-hashes. This means that the bitcoin blockchain consumes about 7-8 gigawatts of electricity. During certain calculations and research, the following was found out. The Bitcoin network annually consumes the same amount of electricity as 6 million family homes in the United States of America.

The expert emphasized that the performance of the Bitcoin blockchain is now extremely important for America and China. But why, you may ask. It is because the disagreements between these countries in the trade sphere threaten to plunge their financial systems into chaos. At this point, Bitcoin can be compared to a “life preserver” for states. By the way, it doesn’t matter how much money is spent.

In addition, bitcoin mining is beginning to rely heavily on alternative energy sources. Also, today, big bets are being placed on natural gas as the most environmentally friendly fuel. This information is confirmed by the commentators of Unchained Capital research, referring to the experience of Canadian miners.