Patchcoin Forum

Link: https://news.climate.columbia.edu/2021/09/20/bitcoins-impacts-on-climate-and-the-environment/

QuoteGlobally, Bitcoin's power consumption has dire implications for climate change and achieving the goals of the Paris Accord because it translates into an estimated 22 to 22.9 million metric tons of CO2 emissions each year—equivalent to the CO2 emissions from the energy use of 2.6 to 2.7 billion homes for one year. One study warned that Bitcoin could push global warming beyond 2°C. Another estimated that bitcoin mining in China alone could generate 130 million metric tons of CO2 by 2024. With more mining moving to the U.S. and other countries, however, this amount could grow even larger unless more renewable energy is used.

QuotePower plants such as Greenidge also consume large amounts of water. Greenidge draws up to 139 million gallons of fresh water out of Seneca Lake each day to cool the plant and discharges it some 30 to 50° F hotter than the lake's average temperature, endangering the lake's wildlife and ecology. Its large intake pipes also suck in and kill larvae, fish and other wildlife.

QuoteAnd even if it one day becomes possible to run all bitcoin mining on renewable energy, its e-waste problem remains. To be competitive, miners want the most efficient hardware, capable of processing the most computations per unit of energy. This specialized hardware becomes obsolete every 1.5 years and can't be reprogrammed to do anything else. It's estimated that the Bitcoin network generates 11.5 kilotons of e-waste each year, adding to our already huge e-waste problem.

We know Patchcoin can be a Bitcoin replacement. Same capabilities and coin supply, less than 1% of the energy usage.

Q: This project will be marketed as store of value ? competitor to bitcoin ?

A: Yes. We want Patchcoin to be a Bitcoin replacement. Same capabilities. Less than 1% of the energy usage of Bitcoin.

Q: Hello, can you explain me one thing in patchcoin? I thought that patchcoin is BTC with pos. But what I can see now,  patchcoin is planned to have 21m coins at beginning. Does it mean that reward will be only fee based? I thought that block reward idea is similar to btc and halving + fee. Dont you afraid that low fees will be not enough to keep interest in minting?

A: Yes, the coin supply will remain fixed by matching the transaction fees burned each block to the staking reward.

Bitcoin will eventually end up in the same design years from now.

Because we don't have to subsidize expensive mining operations, transactions can be cheaper than Bitcoin in the long run.

Patchcoin staking is more like a lottery ticket, where the rewards are variable and can be large or small. We think people will enjoy seeing the occasional very large staking reward.

Staking rewards will grow as network usage does, aligning the interests of stakers and Patchcoin users.

And we believe Patchcoin holders understand that their coins will be worth more if they participate in network security and consensus.

Join our Discord to see current conversations, questions, and answers about Patchcoin.

Our network will be healthiest when we have PTC holders running full nodes.

This means allowing both incoming and outgoing connections.

Instructions for Bitcoin are here: https://bitcoin.org/en/full-node#network-configuration

Patchcoin uses port 7801 for those instructions. The more people running full nodes, the better.

Note that Patchcoin's blockchain is far, far smaller than Bitcoin.

You can use this tool to check if the settings are correct. https://www.yougetsignal.com/tools/open-ports/. Enter your IP address and port 7801

And if that seems overwhelming, don't worry! Running a full node is not mandatory to hold PTC.

You can get an invite to our Patchcoin Discord at: https://discord.gg/Vxnzmmdjcr

There are some interesting discussions forming there about exchange listings, marketing, and future blockchain design.

Quote from: ivav1313 on Mar 11, 2025, 09:34 PMHi, please verify me.

Done. Welcome to the forum.

Hi, please verify me.

Welcome @yato-sketch

ok

https://unu.edu/press-release/un-study-reveals-hidden-environmental-impacts-bitcoin-carbon-not-only-harmful-product

QuoteGlobal Bitcoin mining is highly dependent on fossil fuels, with worrying impacts on water and land in addition to a significant carbon footprint.

QuoteBitcoin is the most renowned and popular cryptocurrency. This motivated the UN scientists to evaluate the environmental impacts of Bitcoin across the world by looking at the activities of 76 Bitcoin mining nations during the 2020–2021 period. The results are shocking. In addition to a substantial carbon footprint, global Bitcoin mining activities have significant water and land footprints.

Quote"Technological innovations are often associated with unintended consequences and Bitcoin is no exception," said Professor Kaveh Madani, the Director of the United Nations University Institute for Water, Environment and Health (UNU-INWEH), who led this study. "Our findings should not discourage the use of digital currencies. Instead, they should encourage us to invest in regulatory interventions and technological advancements that improve the efficiency of the global financial system without harming the environment."

Patchcoin is a technological advancement to Bitcoin.

We use a small fraction of the energy through proof-of-stake consensus, while maintaining a fixed supply of 21 million coins.