Year 2019, Volume 33, Issue 1, Pages 91 - 106 2019-02-07

BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS

Şerif Dilek [1] , Yunus Furuncu [2]

83 322

Bitcoin, with its market value among cryptocurrencies and being the biggest in terms of its processing volume, carries great potential in terms of low cost, speedy processing and low-level risk while also bringing with it important global-level change and transformation. On the other hand, the fact that cryptocurrencies and Bitcoin specifically are new, of unclear legal status, and carry the risk of being involved in illegal activity, there is the potential for their use as an extremely volatile and speculative investment tool and have environmental effects. This study examines Bitcoin mining and blockchain technology and investigates the high amounts of energy consumed by Bitcoin and its environmental effects. It is argued that the energy consumed as a result of increased Bitcoin mining will have environmental and social consequences, such as global warming and climate change. 

Cryptocurrencies, Bitcoin, Energy, Environment
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Primary Language en
Subjects Social
Journal Section Makaleler
Authors

Author: Şerif Dilek
Country: Turkey


Orcid: 0000-0001-7488-365X
Author: Yunus Furuncu (Primary Author)
Institution: KOCAELİ ÜNİVERSİTESİ
Country: Turkey


Dates

Publication Date: February 7, 2019

Bibtex @review { atauniiibd423056, journal = {Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi}, issn = {1300-4646}, eissn = {2147-7582}, address = {Ataturk University}, year = {2019}, volume = {33}, pages = {91 - 106}, doi = {}, title = {BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS}, key = {cite}, author = {Dilek, Şerif and Furuncu, Yunus} }
APA Dilek, Ş , Furuncu, Y . (2019). BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, 33 (1), 91-106. Retrieved from http://dergipark.org.tr/atauniiibd/issue/43125/423056
MLA Dilek, Ş , Furuncu, Y . "BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS". Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi 33 (2019): 91-106 <http://dergipark.org.tr/atauniiibd/issue/43125/423056>
Chicago Dilek, Ş , Furuncu, Y . "BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS". Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi 33 (2019): 91-106
RIS TY - JOUR T1 - BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS AU - Şerif Dilek , Yunus Furuncu Y1 - 2019 PY - 2019 N1 - DO - T2 - Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi JF - Journal JO - JOR SP - 91 EP - 106 VL - 33 IS - 1 SN - 1300-4646-2147-7582 M3 - UR - Y2 - 2018 ER -
EndNote %0 Journal of Economics and Administrative Sciences BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS %A Şerif Dilek , Yunus Furuncu %T BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS %D 2019 %J Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi %P 1300-4646-2147-7582 %V 33 %N 1 %R %U
ISNAD Dilek, Şerif , Furuncu, Yunus . "BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS". Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi 33 / 1 (February 2019): 91-106.
AMA Dilek Ş , Furuncu Y . BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2019; 33(1): 91-106.
Vancouver Dilek Ş , Furuncu Y . BITCOIN MINING AND ITS ENVIRONMENTAL EFFECTS. Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi. 2019; 33(1): 106-91.