Topic: Bitcoin already using too much power by 2020? - page 9. (Read 6843 times)
That's why, using a solar powered Bitcoin Miner is very important nowadays. I know that it's not enough to cover all the power, but at least could reduced the power consumption.
i think this kind of issue can become a problem, due to the mining of bitcoin the electricity consumption has raised more than 10 %, and if you add with another alt coin mining, it can become a huge consumption, so the government need to think a way to increase electricity or the coin developer can come come up an idea for a solution to decrease electricity consumption
Why should devs work on something that's not their problem? This a problem for mining companies.
They shouldn't, correct.Proof of Stake?
Bitcoin should stay away from PoS. It has additional weaknesses. The devs should come up with an alternative.
No.So there is enough power for much more mining then now. How much they use for military and some other things eh.
That's how the media operates in the modern world. They tend to single out information without providing any other comparisons and try to make it look hyperbolic. There are quantities of energy that are being wasted in various industries. The article isn't even good IMO; it was quickly written and does not present information clearly.
Why should devs work on something that's not their problem? This a problem for mining companies.
Similar numbers for power consumption have already been discussed on the forums. I don't think power usage in the Bitcoin network will increase linearly, but usage will increase more slowly in the coming years due to better efficiency in the mining chips
Similar numbers for power consumption have already been discussed on the forums. I don't think power usage in the Bitcoin network will increase linearly, but usage will increase more slowly in the coming years due to better efficiency in the mining chips
If you believe that BTC will eventually replace vast segments of the banking system, then the power consumption aspect appears reasonable on a relative basis
Bitcoin mining farms are wasting too much electricity power and this will affect the environment in a negative way. The weather has been crazy the last couple of years and it was as warm as in spring this winter season and I think we should worry more about the global warming because it's a serious thing and we should curb down all heat sources as much as possible. It would be better to install solar panels and wind turbines because renewable energy is the future.
Power is everywhere around us. In sun, wind, hot springs, water.. But people still make atomic power plants and other not so good things.
So there is enough power for much more mining then now. I don't know where they got this info that bitcoin use too much power. This is ridiculous. How much they use for military and some other things eh.
So there is enough power for much more mining then now. I don't know where they got this info that bitcoin use too much power. This is ridiculous. How much they use for military and some other things eh.
this is the same argument over and over again, banks are using and wasting much more power than bitcoin can even dream with its network
also the energy used it's kind of a backup for the value of bitcoin
also the energy used it's kind of a backup for the value of bitcoin
That's true and the cost of energy is one factor which makes bitcoin mining non profitable for the solo miners.
I think it is better to use solar energy for mining purpose. But again it is very expensive to install solar panels at the initial stage. So companies with good amount of investment will be able to manage it.
The devs should come up with an alternative.
I think it is better to use solar energy for mining purpose. But again it is very expensive to install solar panels at the initial stage. So companies with good amount of investment will be able to manage it.
The devs should come up with an alternative.
Proof of Stake? It solves the problem of you breaking your computer/ASIC, and using all the electricity to hash away.
But this also comes with the downside of a "nothing at risk" attack, and how with this, the ASIC market will crash.
But this also comes with the downside of a "nothing at risk" attack, and how with this, the ASIC market will crash.
I just stumbled upon this article that claims Bitcoin could be consuming as much energy as Denmark by 2020 
Since I gave up mining in 2014, I've almost forgotten just how much electricity goes into making Bitcoins. This got me wondering whether the devs are already working on a solution to this problem. Anyone knows what the plan is?
http://inhabitat.com/power-hungry-bitcoin-could-consume-as-much-energy-as-denmark-by-2020/
Since I gave up mining in 2014, I've almost forgotten just how much electricity goes into making Bitcoins. This got me wondering whether the devs are already working on a solution to this problem. Anyone knows what the plan is?http://inhabitat.com/power-hungry-bitcoin-could-consume-as-much-energy-as-denmark-by-2020/
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