The latest data analysis suggests that the majority of UK residents would not support their government in the event it would impose a crackdown on Bitcoin due to environmental concerns.
According to a recent YouGov survey, only 18% of the total population polled supported banning cryptocurrency in tackling climatic change, with 45% voting contrary to the move.
On several occasions, Bitcoin mining and its environmental impacts have attracted a heated discussion within the crypto industry. Moreover, the Asian crypto market reportedly intensified crackdowns over the same concerns.
But surprisingly, Bitcoin mining only accounts for just 0.46% of the entire world’s electricity consumption. A majority of the Britons suggest, banning crypto assets with such a small percentage would not make the whole planet greener either.
As the YouGov survey reports, only 21% of those younger than 24 years would back up the authorities if they implemented a total Bitcoin ban. On the contrary, 64% of the elderly above 65 years voted “No” to such an idea.
Notably, more men were likely to oppose such a ban than females. It is worth noting that men are much more involved in the digital asset space than females, which might explain their stance.
Bitcoin Mining Could Be Beneficial Instead
North Vancouver, part of the district of British Columbia, is a perfect example of a Bitcoin mining beneficiary. Rather than banning Bitcoin mining, authorities decided to use the released energy into heating residential and commercial buildings.
In the meantime, amid a successful partnership between the cryptocurrency MintGreen and the Lonsdale Energy Corporation (LEC), the mining development is expected to go live in 2022.
During its engagement, the latter asserted that its “Digital Boilers “will indeed deter roughly 20,000 tonnes of GHGs from entering the atmosphere per MW compared to natural gas.
Upon success, North Vancouver will emerge as the first city to utilize Bitcoin mining in this way.