Topic: Banks Consume Over Three Times More Energy Than Bitcoin - page 2. (Read 250 times)
The idea that banks consume more energy than the bitcoin mining is not necessarily so. What makes the energy consumption high is inefficient energy activities, high energy losses etc. The energy crisis, if any should be addressed specifically and in context not using a one off data to generalise the issue on hand
Bitcoin energy consumption has never been an issue not even a "hot topic". what happened was that last year thanks to the big price rise that we had the FUDsters exhausted their subjects they usually use and they had no more new stuff to use so they started inventing issues. one of them has been the energy consumption. and the thing that is ignored in their arguments is the utilities that bitcoin is providing.
This helps the student to earn a lot of money, but it consumes a lot of electricity to run the Bitcoin-based virtual currency. This is quite affecting the environment when producing too much electrical energy
Unless someone finds a way to create Limitless Energy , the energy waste of bitcoin will be unavoidable within 2 years.
Won't change anything. It's not Bitcoin's energy consumption that's the main problem politically, but Bitcoin itself. In other words, even if Bitcoin's entire network runs on clean and environmental friendly energy, politicians and other hate filled idiots will find something else to complain about.
Another thing that people for once need to get straight, is the fact that securing almost $1 trillion in transactions every year isn't waste. I would even like to point out that Bitcoin miners are one of the most consistent industrial energy consumers in existence. We at home on the other hand, are the worst ever actual energy consumers, ahum, wasters the world has ever seen. People need to look at themselves instead of pointing their dirty finger at Bitcoin.
The Amount of Energy Waste is not what secures bitcoin, it is the collusion of the Chinese Miners that secure bitcoin, nothing more nothing less.
If the Chinese Miner switched to an energy efficient consensus , it would be just as secure, because the energy waste is not securing it,
the collusion of the majority is securing it. (Look up 51% attack)
The mere fact that Bitcoin's payment system requires more electricity than multiple countries combined is pure stupidity already and it is just going to get worse.
https://digiconomist.net/bitcoin-energy-consumption
This assertion is laughable to say the least.
Only if the poster is aware that , it is estimated that the anount of energy that bitcoin mining consumes is more than the energy consumped by the entire country of Singapore.
Only if the poster is aware that , it is estimated that the anount of energy that bitcoin mining consumes is more than the energy consumped by the entire country of Singapore.
The Researcher is a idiot. 
There is not enough Hydro electric to supply the amount of electricity needed by bitcoin.
The problem is not the current drain of bitcoin , the problem is the energy drain is growing geometrically.
And that Geometric Grow is greater than all of the Energy Growth of all forms of current energy production (Clean or otherwise).
By 2020 , it will be undeniable how bad bitcoin insane energy waste has become.
Unless someone finds a way to create Limitless Energy , the energy waste of bitcoin will be unavoidable within 2 years.
There is not enough Hydro electric to supply the amount of electricity needed by bitcoin.
The problem is not the current drain of bitcoin , the problem is the energy drain is growing geometrically.
And that Geometric Grow is greater than all of the Energy Growth of all forms of current energy production (Clean or otherwise).
By 2020 , it will be undeniable how bad bitcoin insane energy waste has become.
Unless someone finds a way to create Limitless Energy , the energy waste of bitcoin will be unavoidable within 2 years.
Limitless? We don't need a limitless source of energy, we have the Sun. It has a limit and it's only 5 billion years from now
The Sun delivers more energy to Earth in an hour than we use in a year from fossil, nuclear and all renewable sources combined. That said, I see the problem in not using all of that potential power, not the drain or consuming.
Unless someone finds a way to create Limitless Energy , the energy waste of bitcoin will be unavoidable within 2 years.
Won't change anything. It's not Bitcoin's energy consumption that's the main problem politically, but Bitcoin itself. In other words, even if Bitcoin's entire network runs on clean and environmental friendly energy, politicians and other hate filled idiots will find something else to complain about.
Another thing that people for once need to get straight, is the fact that securing almost $1 trillion in transactions every year isn't waste. I would even like to point out that Bitcoin miners are one of the most consistent industrial energy consumers in existence. We at home on the other hand, are the worst ever actual energy consumers, ahum, wasters the world has ever seen. People need to look at themselves instead of pointing their dirty finger at Bitcoin.
Bitcoin’s network energy consumption has become somewhat of a hot topic as the cryptocurrency grows in popularity. A clean energy researcher, however, says that naysayers are missing critical factors when making their claims.
"Electricity production can increase while still maintaining a minimal impact on the environment. Rather than focusing on how much energy Bitcoin uses, the discussion should center around who indeed is producing it – and where their power comes from."
Source:
"Electricity production can increase while still maintaining a minimal impact on the environment. Rather than focusing on how much energy Bitcoin uses, the discussion should center around who indeed is producing it – and where their power comes from."
Source:
Code:
https://bitcoinist.com/banks-consume-energy-bitcoin/
The Researcher is a idiot.
There is not enough Hydro electric to supply the amount of electricity needed by bitcoin.
The problem is not the current drain of bitcoin , the problem is the energy drain is growing geometrically.
And that Geometric Grow is greater than all of the Energy Growth of all forms of current energy production (Clean or otherwise).
By 2020 , it will be undeniable how bad bitcoin insane energy waste has become.
Unless someone finds a way to create Limitless Energy , the energy waste of bitcoin will be unavoidable within 2 years.
Miners exploit bitcoin massively by investing a lot of Bitcoin mining machinery. This helps the student to earn a lot of money, but it consumes a lot of electricity to run the Bitcoin-based virtual currency. This is quite affecting the environment when producing too much electrical energy. In addition, the problem is that the price of Bitcoin is going down too because of this reason, when Bitcoin is exploited too massively, Bitcoin discount is also natural.
Bitcoin’s network energy consumption has become somewhat of a hot topic as the cryptocurrency grows in popularity. A clean energy researcher, however, says that naysayers are missing critical factors when making their claims.
"Electricity production can increase while still maintaining a minimal impact on the environment. Rather than focusing on how much energy Bitcoin uses, the discussion should center around who indeed is producing it – and where their power comes from."
Source:
"Electricity production can increase while still maintaining a minimal impact on the environment. Rather than focusing on how much energy Bitcoin uses, the discussion should center around who indeed is producing it – and where their power comes from."
Source:
Code:
https://bitcoinist.com/banks-consume-energy-bitcoin/
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