Dave - Cryptocurrency Enthusiast
According to a survey by environmental organizations, US Bitcoin mining emits as much carbon dioxide annually as 6 million automobiles. Following the publication of the research on Friday, the organizations pushed for a ban on new Bitcoin mining operations in the US due to the harm posed by global warming.
Energy-hungry industries may emit emissions that can undermine all efforts being made to combat climate change, according to Jeremy Fisher, an energy analyst for the Sierra Club and co-author of the research.
“We’re at an inflection point. We’re trying to rapidly decarbonize. Bitcoin mining has the potential to undo some of that progress”, as reported by Jeremy Fisher. The carbon footprint of the cryptocurrency industry was calculated by the Environmental Protection Agency to be 27.4 million tons between mid-2021 and mid-2022, which is three times the carbon footprint of the largest US coal plant.
According to a recent White House research, only 3.5% of all Bitcoin mining activity worldwide took place in the US in 2022, but that percentage has since increased to 38%.
The New York Assembly adopted a bill to halt any new fossil fuel-based enterprises in order to address this situation, sharing the same viewpoint as the environmental organizations.
The Bitcoin industry, however, is defending the cryptocurrency space by asserting that BTC only consumes a negligible 0.09–1.7% of the total US electricity. Over 50% of the electricity used by miners comes from renewable sources, according to statistics supplied by members of the Bitcoin mining council.
According to Elliot David of the Sustainable Bitcoin Protocol, "Bitcoin is a technology with a lot of good and bad climate potential."
Even though Bitcoin mining appears not to be environmentally friendly, majority of people believe that Bitcoin is here to stay. As people are looking for ways to reduce the carbon footprint and it is only a matter of time. So, if you are planning to buy Bitcoin online, but don’t know how you can visit a trustworthy crypto broker – BCBitcoin. Here you can be assured your transactions are safe, moreover, you can keep your crypto assets online, without any wallet. For example, if you want to buy Bitcoin but you do not know which wallet to use, you can always store it online at BCBitcoin, and withdraw it whenever it is needed.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards