Bitcoin consuming too much Electricity. - page 6.

nightfury

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

That'll be a good idea for using green or any sort of renewable energy as we know how energy consuming bitcoin mining is. If we can just use other source of green energy, then that will be a very good move for both miners around the world.

SummonKing2

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Maybe so much power is getting bitcoin because it has a lot of users in different countries. The reason bitcoin uses a lot of energy is rooted in the way the bitcoin network operates. A digital currency, bitcoin is not controlled by any central bank or commercial clearinghouse but by a network of users who expend large amounts of computing power, and thus energy, building a so-called “blockchain” of bitcoin payments transactions.

belalangsembah

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

if the investor should also invest on the power source because bitcoin miners use big enough electricity I agree with you, and for solar power a good idea, because both the miners and investors will also benefit and also for the growth of bitcoin

Raufjoze

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

if the miners use a very large electric power this should also be considered by investors to also invest electric power, but the source of electricity is not only spent by miners bitcoin, everyone in the world using this power source

Kravious

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This would be a great idea due to mining consuming a low of electricity. Having solar panels would decrease their consumption and would increase their profitability as well.

Da Cambodia

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I think all gadgets or appliances use electricity for power and as usual bitcoin also use electricity because it is digital that's why it do not consume energy so much

pelipurlara

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

for the sustainability of future generations, I support if investors are also investing in our natural resources, because resources are running low when using other alternatives such as solar power is very good for miners so as not to over-exploit non-renewable resources

naily

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

yes of course I agree with you the miners should also start thinking of non-renewable resources, for the choice of solar power is a good choice, so the resources do not run out quickly by the miners

Marrionbitcoin

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

I think Bitcoin does not consuming too much electricity and It didn't even comes to my mind.
You really need to use electricity in our daily lives and it's basic for you to maximize earnings thru Bitcoin, you really need resources as help for you to achieve desired income.
You need to invest into something for you to execute your goals.
Also, if electricty bill hurts your pocket so much, you just try to save electricity in some other uses like, lessen the use or aircon, turn-off some devices or light etc.
Just be creative to save and lessen the expenses so that your earnings will increase.

ramini

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Quote from: Nilda on January 14, 2018, 08:41:06 PM

A mining operation powered by renewable energy is a great idea. But the cost of putting it together may be prohibitive at this time. Just live in a country where electricity is powered by the sun and wind.

Are you saying they leave their home just to do mining in other places or country? Does anyone really do that? For me, mining is not for everbody. If you happen to live in a place where electrical consumption is cheap, lucky for you, go mine but if not, why would you force yourself leaving just for that? There are many alternative ways but if things really doesn't work, you can do something else.

ramini

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Are you talking about miners? Yes they do take so much electrical power that sometimes makes their work less profitable. But they can adopt to renewable energy. If they can afford to buy high PCs, they shoul add solar panel as part of the investment. It may be not profitable on the first few months as they start, but in a long run, it is very helpful.

Fire316

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In terms of mining bitcoin are really consuming too much electricity that why when they use a renewable energy they can minimize electricity and that is a good idea but you need to have a big amount to invest and we dont know if miners will accept it.

Nilda

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A mining operation powered by renewable energy is a great idea. But the cost of putting it together may be prohibitive at this time. Just live in a country where electricity is powered by the sun and wind.

btcprospecter

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It is true that mining bitcoin globally uses a vast amount of electricity. Renewable energy is a good idea for miners as long as they can generate enough energy to run or subsidise their farms. Countries with an abundance of renewable energy should really consider mining.

Sadnu

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Bitcoin does not waste electricity because you can rent your computer and pay money everyday. but for others it is their statement, It's true that Bitcoin mining is an awful energy drain. Hundreds of thousands of application-specific integrated circuits or ASICs — specific hardware aimed exclusively for mining cryptocurrencies — hum in huge halls, mainly located in China, and use enormous amounts of electricity to create new bitcoins.

ovcijisir

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Quote from: noloco on January 14, 2018, 03:53:41 PM

There is already several alternatives with less energy footprint like proof of stack, master nodes securing the network, different mining algos with less energy consumption... more energy from different sources is continuing the same problem, if you see it as a problem.

I agree, because proof of work (POW) algorithm that Bitcoin uses a lot of electricity. Proof of stake algorithms use much less electricity and consume less energy, and anyone can participate in block generation with normal computer (no need for rigs and ASIC).

janah

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

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 but miners are earning too much incentive too because they are the miners, now if they invested also to the solar energy do you think an ordinary miner can invest in solar? It is not cheap at all only those people who have enough money to invest in solar.

noloco

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There is already several alternatives with less energy footprint like proof of stack, master nodes securing the network, different mining algos with less energy consumption... more energy from different sources is continuing the same problem, if you see it as a problem.

Aderiho Bitjones

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So the mini is very energy-efficient. But there is no special output. It is necessary to produce bitcoin and other currencies. In order to save energy, it is more necessary to build new environmentally friendly power plants. Solar panels or hydropower plants.

Yakamoto

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Quote from: Pain Packer on January 13, 2018, 12:41:53 AM

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

Not cost effective and it honestly won't do anything in the long run because a majority of miners will merely be gimping themselves trying to invest in these alternative forms of energy since the Chinese will do whatever they damn well please considering the incredibly cheap value of electricity in their region. Trying to lessen the impact of Bitcoin on the environment is also a non-issue compared to the various other environmental impactors that we see around the world; it's not like "fixing" Bitcoin dwarfs these other things.

Topic: Bitcoin consuming too much Electricity. - page 6. (Read 991 times)