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The results of fitting the total number of mined bitcoins versus time with both a power and logistic curve are reported in Figure 1 and Table 2. The number of bitcoins mined from the network has increased following more a power law than a logistic regression, as evidenced by the lower SSE (sum of squares due to error) and RMSE (root mean squared error) values in the first case. These results state clearly that the increasing demand of electrical current and computing power do not represent a limiting factor in the bitcoin mining capacity of the network. The generation of new bitcoins follows the generation algorithm imposing a reduction of mining rate every four years. Mc Cook [11] stated that, at present, the environmental costs of bitcoin mining are less than paper money, gold and banking systems (Table 3). The study considered only energy consumption, in comparison with other systems, excluding producing gold mining machinery, storing and transporting, constructing about 600,000 bank branches in the worlds employing about 7 million persons, and including only operational energy used. Alternatives to bitcoin and fiat currencies are represented by polymer-based banknotes. A ‘cradle-to-grave’ life cycle assessment (LCA) of the current cotton paper bank notes in Canada compared with a new polymer bank note prototype (choosing the provision of 2000 Canadian Dollar banknotes of cash value over a time span of 7. However, no assessment has been done at present of bitcoin, so is not clear if it is sustainable or not, melhores bónus de casino bitcoin. For instance, Loviscach [13] has proposed two fundamental aspects to be taken into account in assessing the environmental impact of bitcoin, such as (1) computer energy consumption (expressed in kWh) for computing, networking and cooling (2) disposal of e-waste produced. The ‘Long Future Foundation’, an Australian sustainability organism, recently expressed worries about the energy consumption used and greenhouse gases (GHGs) released by bitcoin mining. The foundation suggests that 40% of the bitcoin is spent on electricity costs to mine it. Furthermore, the cryptocurrency could have generated 4 gigatons of GHGs, almost 13% of global releases per annum (4. The increase in the economic value of bitcoin can drive people to extend mining activities and consequently to increase energy consumption [14]. O’Dwyer, and Malone [15] have estimated the energy consumption, finding that the entire Bitcoin mining network is on par with Ireland for electricity consumption.
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