Topic: Bitcoin consuming too much Electricity. - page 3. (Read 991 times)
Bitcoin is indeed draining lots of energy resources that our globe will certainly need especially that renewable energy isn't adopted worldwide and is present just in developed countries whereas the countries that have the hottest climax and sun rays are the most present doesn't even benefice from such technologies . Bitcoin mining gets way harder after each block thus more electricity spent , and this could endanger the humain race itself .
Mining do consume a lot of power, so miners should absolutely consider renewable energy, particularly where it can save them money on the cost of electricity usage. If we want miners to use only renewable energy, then renewable energy need to be cheaper than every other forms of energy. The energy from the sun (solar) and the wind are more than enough for everyone. Some countries like Canada, if they invite bitcoin miners to their country, there shouldn't be a problem.
That's great idea, all miners will lessen the cost of electricity.
Stupid idea. Do you know how much electricity data centers use ? Yeah Google is trying to do something with renewable power but that does not mean anything. You don't complain going on Facebook or Youtube and enjoying yourself, so I guess their data centers don't consume any electricity ? Don't be naive. Everyone here is looking for profit. If it's more profitable to pay for electricity rather than produce it everyone will do so.
I think it's not too strong to eat electricity because you do not always have a bitcoin on your computer, the power of eating electricity is the bitcoin miner, that's great and cost-efficient, but if you do not You do not have to pay for electricity
Bitcoin does consume a lot of electricity. Some say too much. There are altcoins that are reducing this though, but I don't think they'll take over BTC anytime soon.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
I agree with you that investors on miners should invest on renewable energy but their power consumption not even a fraction of the industrial and manufacturing company.
There are already miners shift to renewable practice to save money. Renewable energy may expensive to start but it is more cheaper in the long run.
I do not think that there's a technology that is already existing where renewable energy will be available for mining. The best thing for mining rig to become more profitable is that your area will have a low electricity consumption, just like in china and that's the reason why 30% of the contributor in the market is coming from chinese miners.
I agree, I think it is the best for the miners to invest on recyclable energies in able to help in decreasing their impact on the environment, hoewver this transition would need more capital and additional equipments in able to facilitate.
What's the problem if miners consume electricity if they pay for it or do the necessary work to create it, when did people paying for things they want become a problem. I't be fun if amish/steampunk crossover anti-bitcoin champion emerged out of nowhere though 
Yes, they pay for it but they consume so much elecricity that it can harm the environment. I think that solution is in POS (proof of stake) algorithm that is much less wasteful. Even ordinary computer can "mine" those POS coins.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
Mining is really consuming a lot of electricity if you did not optimize your rig. The best thing to do is research a lot about the graphics card you are planning to buy before getting it because there are specific cheap for best hashrate and all you need to do is figure this out in order to earn more profit through mining.
If people have enough money to pay for electricity, why stop them?
What's the problem if miners consume electricity if they pay for it or do the necessary work to create it, when did people paying for things they want become a problem. I't be fun if amish/steampunk crossover anti-bitcoin champion emerged out of nowhere though
Yes, they pay for it but they consume so much elecricity that it can harm the environment. I think that solution is in POS (proof of stake) algorithm that is much less wasteful. Even ordinary computer can "mine" those POS coins.
As people increasingly focus on environmental protection, the use of renewable energy to produce bitcoin will be a trend. I think it will bring a new leap to the development of encrypted currency if it is able to use solar energy efficiently. This will greatly reduce production costs and thus reduce transaction costs. It is very good for the popularity of bitcoin.
Energy consumption has become a huge problem. Bitcoin is consuming billions of kilowatts of energy all over the world for mining. Unfortunately, we are faced with nature. I never thought people could beat nature. Controlling Bitcoin mining is against Bitcoin's.
What's the problem if miners consume electricity if they pay for it or do the necessary work to create it, when did people paying for things they want become a problem. I't be fun if amish/steampunk crossover anti-bitcoin champion emerged out of nowhere though
I just think that Proof-of-work algorithm that Bitcoin uses is wasteful on computer resources. I don't see the benefit of POW over POS (Proof-of-stake) algorithm, because POS uses much less electricity.
You people need a reality check, and to stop commenting on things that clearly are Beyond your competence.
It is shocking to read how many of you seem to think solar would be an environmentally friendly solution for mining, or how somehow renewable enrgy would be cheaper. You are the kind of people that push governments in taking poor decisions that eventually cause unimmaginable harm.
please, study. educate yourselves.
It is shocking to read how many of you seem to think solar would be an environmentally friendly solution for mining, or how somehow renewable enrgy would be cheaper. You are the kind of people that push governments in taking poor decisions that eventually cause unimmaginable harm.
please, study. educate yourselves.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
renewable energy is the next big thing when it comes to mining crypto currencies. More and more miners are shifting to solarpanels etc. Due to low prices for the long run of their mining rigs. Big chunk of energy are being consumed with regular energy most of them must switch to renewable energy.
yes a lot of energy is wasted to get some bitcoin from miners, the idea you propose is very good, better utilize other resources (energy) like Solar panel, wind turbine or water, with energy of course it will be very friendly environment of course can save some expenditure, so the profits will increase, hopefully this idea can be applied as a whole for bitcoin seekers
The idea of too much energy consumption by miners is contrived.
Talk about the amount you can compare with anything. Write the figures for electricity consumption by the banking system.
Or we spend too much energy on the production of dildos!
Talk about the amount you can compare with anything. Write the figures for electricity consumption by the banking system.
Or we spend too much energy on the production of dildos!
not sure, I would need to see the figures.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
Its normal for you to have high electricity consumption since you are running a huge machine, but its ok if you also earn a lot of money then it was very profitable. Most of the graphics card today is sold out in the market because of the high value of bitcoins in the market.
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