You make a good point here. Electricity is the main concern of bitcoin's future (or one of majors concerns), and I think gouvernments will regulate bitcoin this year, because it consumes so much, it's really bad and miners needs to change the think to save planet or incomming regulation.
Unfortunaly, I think alternate electricity (like solar panels, wind turbines) cost a lot, and miners can't afford them, or they will be losing. Bitcoin needs an upgrade or people will adopt other cryptocurrency...
Topic: Bitcoin consuming too much Electricity. - page 7. (Read 993 times)
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
That seems to be the solution but know that investing into solar energy doesn't come cheap at all, Though the benefits and advantages would be seen over a long period of time, investing tens of thousands of US Dollars if you want to totally go off grid isn't an easy thing to do. 
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
In fact, i am looking to expand all my rig to more than 50 Cards, but i do not know what to do.. if i do not buy a solar panel, i am going to be paying more than $3,500 worth of Electricity bills per month, and this is true, lmao.
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.
This is something I don't agree very much. Of course someone can be able to produce BTC or other crypto with green energy but the main problem is just that it is a way too energy guzzling, no matter it is a green energy. This will limit the future possibilities and the future of cryptos will be the one that is really green in the sense of "few eneergy guzzling".
I'm still looking for the crypto that will fill those criterias and this will be the future currency, trust me !
I'm still looking for the crypto that will fill those criterias and this will be the future currency, trust me !
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 there is another way out of this situation. Start to mine other more interesting and promising crypto-currencies. Switch your steady attention. Give bitcoin time to restore and update its technological features.
yes bitcoin need to environmental friendly it is harming natural resources if we have healthy eco system it is good for industry all together
I happen to know a person that is mining Bitcoins and uses solar panels for electricity, he hoped to cut the expenses on electricity, but our stupid country demands taxes that are pretty high and it comes to a same price plus you pay pretty big for the panels. But he is happy to help save the enviroment as much as he can and he keeps buying solar panels even though it is not worth it. More and more people mine with electricity from solar panels because it is cheaper and it will help a lot.
Does anyone know where the energy comes from for giant mining farms in places such as China and Mongolia? China is planning on opening mining farms in Canada now - at least Canada as cleaner energy (water). I heard something about btc and energy on NPR radio show science friday recently, and their expert said a bitcoin transaction takes 5000 times more energy to process than one visa transaction. 
It definitely seems to be a problem. I hope people can adopt sustainable methods to mine- seems difficult :/
It definitely seems to be a problem. I hope people can adopt sustainable methods to mine- seems difficult :/
Of course bitcoin is using a lot of energy. But the normale FIAT Money system uses a lot more energy. Just calculate all banks and all the server of the banks how much energy they using for a currencies who dont is even one cent worth. SO instead of bashing bitcoin and cryptocurrencies for the energy they used, they should change to the real money system from fiat money to cryptocurrencies so we can shut down all the banks and the energy they use.
Yes, the people who mining bitcoin should search the other option for energy. Their should think about the effect used a lot of energy to this earth. It's so dangerous for me. If you can minimize the energy, it's the best way I think. Don't make anybody's get dangerous just from your activity.
The issue is farfetched about the fact that mining bitcoins consume too much energy. Miners pay for energy, but it is enough to provide all the inhabitants of the earth.
Of course! Ever heard of the surplus energy every nuclear power plant produces? Every single huge energy supplier has this excess energy and has to do something with it. It's not like you can just shove a megawatt here and there and heat up someone's yard. They have enough of it that they could insert a heating cable under every road and melt the snow instead of trying to push it, sand it or salt it.
Blow it out the top - France chose to build expensive additions to a subset of their nuclear plants which allow them to divert steam to cooling towers without going through turbines. Basically, they turn the heat generated by the nuclear plant into hot air with no economic benefit.
Shove it uphill - California chose to build a lot of pumped hydro to give its nuclear fleet something to do at night and in other lulls. This was an expensive infrastructure project which allowed them to overbuild nuclear, spend money to push water uphill, then spend money to let it out when needed.
Pay someone else to take it - Ontario chose to build grid connections to New York state among other jurisdictions. When Ontario has too much nuclear on the grid, they try to sell it to the USA. When New York has too much cheap fossil electricity of their own, they demand that Ontario pay them to accept Ontario's excess energy.
https://www.quora.com/Where-does-surplus-electricity-go-Is-the-difference-made-up-entirely-by-adding-easily-regulated-energy-sources-like-hydropower-and-natural-gas-plants-on-top-of-nuclear-or-are-there-other-mechanisms-in-use
I think the issue is that moving along the block chain and creating new coins does not have to be as energy intensive as it has become. Bitcoin was designed to be mined by CPUs, and I don’t think the creators ever envisioned this arms race to hashing power to not only cause it to become so centralized, but to take away the “voting power” of the common user.
It don’t know how to fix it, but the current state is analogous to asking people if they’d prefer their car gets 40 miles to the gallon, or 40 gallons to the mile. Bitcoin is way over using the energy needed to accomplish its goal.
It don’t know how to fix it, but the current state is analogous to asking people if they’d prefer their car gets 40 miles to the gallon, or 40 gallons to the mile. Bitcoin is way over using the energy needed to accomplish its goal.
You _actually_ think Bitcoin is the most polluting thing in the world? You think it's the biggest energy waster?
We are touching levels of pathetic here.
We are touching levels of pathetic here.
40% of world Electricity is made with burning Coal. In China lol what 80%? Single bitcoin transaction is consuming Electricity worth 200$(random number I personally guess). Bitcoin Core network can handle 7-14 transactions /second. VISA is making 2000-4000 transactions / second. None knows whats VISA transaction cost / electricity / waste of resources. But what we all know is that Money will pay for it. As long as Money comes to pay salaries networks work..... Who cares that some military/space expenses are waste when someone is paying for it.
Bitcoin is most polluting waste of energy there is but Money will pay for it.
Money = ledger some government(US) is willing to back up
Bitcoin is most polluting waste of energy there is but Money will pay for it.
Money = ledger some government(US) is willing to back up
yes it is true bitcoin mining does require electricity with very large power
because in demand to always make active devices that are used as a tool miner bitcoin
and it becomes a problem, it seems the miners must have an alternative energy so as not to disrupt and bad for the environment
because in demand to always make active devices that are used as a tool miner bitcoin
and it becomes a problem, it seems the miners must have an alternative energy so as not to disrupt and bad for the environment
Mining really take up a great amount of electricity. So engaging into mining may require some graphics card for you to have an effective yet effecient mining. I am also planning to start mining becauseI already have someof the requirements.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
Yeah I agree with you.That's the main downside about bitcoin. It consumes alot of energy I would loved more bitcoin if it had the technology Proof of Stake.
With Proof of Stake,miners are not needed.Some altcoins has that feature (like Raiblocks) and I really like it though.
Hopefully the renewable energy will actually help Bitcoin ( yes,goveneements may take actions against it just because it consumes alot of energy)
yes you are right, electricity is indeed the number 1 constraint for miner bitcoin
china even now prohibits bitcoin mining because it is considered as a waste of electricity, that's what I read in the news of the end of this
china even now prohibits bitcoin mining because it is considered as a waste of electricity, that's what I read in the news of the end of this
I don't see anything wrong with consuming power to mine Bitcoin as long as you're paying for it. If there's a certain wattage available for sale it shouldn't concern the seller what the buyer does with it. What if he decided to simulate lightnings. There was a Soviet project that focused on creating lightning storms. They were using amplified power to shoot lightnings into the clouds to make rain and do various experiments. Was that a waste? Pretty much, because the research was abandoned and the whole facility is in ruin (you can google the pictures).
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