Bitcoin does not consume too much energy.
It consumes enough energy. Bitcoin must always consume as much energy as possible. even though technology makes energy cheaper and computation more efficient, blocks must always be as difficult as possible to generate.
If difficulty becomes low it becomes too easy to attack the network with fraudulent blocks.
its possible that only one proof of work consensus algorithm in the world should be operational.
Topic: Bitcoin consuming too much Electricity. - page 8. (Read 991 times)
Your right. Anyways everything we have at home consumes electricity. Like our appliances, light etc. In BTC we consume electricity while we do this kind of business since we do monitor unto stock market and internet technology. But then imagine with BTC you earn, and gain from it so nothing to lose.
Indeed! Though BTC uses more electricity, atleast you gain profit from it. Its like your investing a business and electricity is one of your kind of capital . Anyways businesses do electricity so I think theres no difference yet BTC is more advantage.
Good point. There's so much electricity being wasted around the world and people are complaining about bitcoin mining.
Your gaming PC with dual GPUs uses almost as much as a decent miner. Is gaming a productive activity? I'd argue that it's much less productive than supporting a crypto network.
What about things left in standby mode? They are the biggest unproductive energy consumers in the world. Nobody cares about that, but suddenly mining is such a big deal.
it uses electricity but it also gains something in return, unlike watching TV.
Good point. There's so much electricity being wasted around the world and people are complaining about bitcoin mining.
Your gaming PC with dual GPUs uses almost as much as a decent miner. Is gaming a productive activity? I'd argue that it's much less productive than supporting a crypto network.
What about things left in standby mode? They are the biggest unproductive energy consumers in the world. Nobody cares about that, but suddenly mining is such a big deal.
Quote
So if an item left on standby uses 1 watt an hour (i.e. it is brand new and adheres to the new 1 watt legislation), then it uses 1kWh for every 1000 hours it is on. There are 8760 hours in a year, so it will use 8.76kWh in a year. Currently 1kWh from one of the big 6-energy company costs 14 pence, so over a year that will cost £1.23 to do nothing!
TV (10 YEARS OLD)
An old TV uses 12 watts an hour, so it uses 1kWh for every 83 hours it is on (in standby). There are 8760 hours in a year, so it will use 106kWh in a year, which at today’s prices equates to £15, again to do nothing.
TV (10 YEARS OLD)
An old TV uses 12 watts an hour, so it uses 1kWh for every 83 hours it is on (in standby). There are 8760 hours in a year, so it will use 106kWh in a year, which at today’s prices equates to £15, again to do nothing.
Indeed! Though BTC uses more electricity, atleast you gain profit from it. Its like your investing a business and electricity is one of your kind of capital . Anyways businesses do electricity so I think theres no difference yet BTC is more advantage.
Good point. There's so much electricity being wasted around the world and people are complaining about bitcoin mining.
Your gaming PC with dual GPUs uses almost as much as a decent miner. Is gaming a productive activity? I'd argue that it's much less productive than supporting a crypto network.
What about things left in standby mode? They are the biggest unproductive energy consumers in the world. Nobody cares about that, but suddenly mining is such a big deal.
it uses electricity but it also gains something in return, unlike watching TV.
Good point. There's so much electricity being wasted around the world and people are complaining about bitcoin mining.
Your gaming PC with dual GPUs uses almost as much as a decent miner. Is gaming a productive activity? I'd argue that it's much less productive than supporting a crypto network.
What about things left in standby mode? They are the biggest unproductive energy consumers in the world. Nobody cares about that, but suddenly mining is such a big deal.
Quote
So if an item left on standby uses 1 watt an hour (i.e. it is brand new and adheres to the new 1 watt legislation), then it uses 1kWh for every 1000 hours it is on. There are 8760 hours in a year, so it will use 8.76kWh in a year. Currently 1kWh from one of the big 6-energy company costs 14 pence, so over a year that will cost £1.23 to do nothing!
TV (10 YEARS OLD)
An old TV uses 12 watts an hour, so it uses 1kWh for every 83 hours it is on (in standby). There are 8760 hours in a year, so it will use 106kWh in a year, which at today’s prices equates to £15, again to do nothing.
TV (10 YEARS OLD)
An old TV uses 12 watts an hour, so it uses 1kWh for every 83 hours it is on (in standby). There are 8760 hours in a year, so it will use 106kWh in a year, which at today’s prices equates to £15, again to do nothing.
it uses electricity but it also gains something in return, unlike watching TV.
Good point. There's so much electricity being wasted around the world and people are complaining about bitcoin mining.
Your gaming PC with dual GPUs uses almost as much as a decent miner. Is gaming a productive activity? I'd argue that it's much less productive than supporting a crypto network.
What about things left in standby mode? They are the biggest unproductive energy consumers in the world. Nobody cares about that, but suddenly mining is such a big deal.
Quote
So if an item left on standby uses 1 watt an hour (i.e. it is brand new and adheres to the new 1 watt legislation), then it uses 1kWh for every 1000 hours it is on. There are 8760 hours in a year, so it will use 8.76kWh in a year. Currently 1kWh from one of the big 6-energy company costs 14 pence, so over a year that will cost £1.23 to do nothing!
TV (10 YEARS OLD)
An old TV uses 12 watts an hour, so it uses 1kWh for every 83 hours it is on (in standby). There are 8760 hours in a year, so it will use 106kWh in a year, which at today’s prices equates to £15, again to do nothing.
TV (10 YEARS OLD)
An old TV uses 12 watts an hour, so it uses 1kWh for every 83 hours it is on (in standby). There are 8760 hours in a year, so it will use 106kWh in a year, which at today’s prices equates to £15, again to do nothing.
it uses electricity but it also gains something in return, unlike watching TV.
But the good thing is, because the amount of electricity bill is calculated then the miner will go to losers. In that case, there is a lot of beautiful and authentic offer. So if someone actually does this then it will be a lot better.
When you are mining bitcoin it really consumes too much electricity but if you're not, bitcoin doesn't require too much electricity to consume.
Bitcoin consuming too much Electricity. really?
how about call of duty and the countless people playing countless hours?
how about call of duty and the countless people playing countless hours?
yes. that is true because high electricity charges miners should need make use of renewable energy like solar panels, batteries etc. which will help in to save the the normal electricity cost and thus can make more profit after mining any crypto currency bitcoin or any other crypto coins, now a days electricity charges unit charges also increasing.
Fiat around the glove is taking too much electricity, causes deforestation. What's new?
I actually feel al the talk about eth POS is coming from these bs statements as well.
I actually feel al the talk about eth POS is coming from these bs statements as well.
So what is it suppose to consume? Why are you policing other people's electric consumption. Is it illegal to participate in capitalism?
Yes it is also true to complement each other, so between resource usage and balanced supply. This needs to be realized if you want to maintain the reputation of bitcoin.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
Renewable energy equipment still expensive comparing to conventional energy. Maybe nuclear energy plant is perfect to produce cheap electricity for mining.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
I think that's a good idea to have a solar panel and wind turbines along in every place that uses bitcoin because of arising of users in bitcoin the more the electricity consumed by us and also the radiation that comes in every home is kinda dangerous for everyone the more mobile phones and gadgets used in a house the more the radiation can enter. 
Yes, Bitcoin mining takes too much of electricity. Bitcoin Miners will use the other renewable resource like the solar panel to mine the bitcoin.
Use logic.
If miners use the renewable sources of energy the other will have to use conventional sources (gas/coal/nuclear).
It all end up with the amount mining needs, and that is dictated by the price.
If the reward will be 1 million per block, miners will spend daily 100 millions on energy just to get the 144m in daily rewards.
So it is better to start using the free energy available for us.But it needs huge capital initially for the setup but its worth to invest.
I think solar energy is the best of all other energy the availability is more than other sources but it can't be done in some countries because there is not enough sun rays falling on their country.
I think solar energy is the best of all other energy the availability is more than other sources but it can't be done in some countries because there is not enough sun rays falling on their country.
There is no such thing as free energy.
Hidro/solar/wind all need huge investments and need maintenance and repairs.
There is nothing free in this world.
Of course it's yes, bitcoin miners are the ones who had been using too much of the electricity due to many computer gadgets, miner hardware and other stuffs which will result into much efficient outcome during mining operation. I would say, solar panels could be of big help for the bitcoin miners to at least minimize their electrical bill consumption and probably this may be applicable to countries where there is sufficient source of sunlight.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
That true, miners should do start invest on renewable energy to run their mining. because as we now mining bitcoin use a lot of VGA and that VGA consume a lot of electricity energy. and that's mean electricity company would use more fossil fuels to produce electricity. in my opinion large crypto minner should have own electric source independently that separate form civilan electrity. and that independent electric source should be renewable energy.Would certainly agree that bitcoin is consuming too much of electricity especially for those individuals who are into bitcoin mining operation since there are lots of ancillary equipments such as the graphical processing unit (GPU) and bitcoin miner hardware is needed to do mining activity. The more equipment,
the more electricity will be consumed. It would have no problem to those advance countries that are already adopting into the renewable source of energy.
Of course it's yes, bitcoin miners are the ones who had been using too much of the electricity due to many computer gadgets, miner hardware and other stuffs which will result into much efficient outcome during mining operation. I would say, solar panels could be of big help for the bitcoin miners to at least minimize their electrical bill consumption and probably this may be applicable to countries where there is sufficient source of sunlight.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
That true, miners should do start invest on renewable energy to run their mining. because as we now mining bitcoin use a lot of VGA and that VGA consume a lot of electricity energy. and that's mean electricity company would use more fossil fuels to produce electricity. in my opinion large crypto minner should have own electric source independently that separate form civilan electrity. and that independent electric source should be renewable energy.Would certainly agree that bitcoin is consuming too much of electricity especially for those individuals who are into bitcoin mining operation since there are lots of ancillary equipments such as the graphical processing unit (GPU) and bitcoin miner hardware is needed to do mining activity. The more equipment,
the more electricity will be consumed. It would have no problem to those advance countries that are already adopting into the renewable source of energy.
I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?
Yeah miners have to use renewable energy because the current electricity price will increase heavily if more miners come.So it is better to start using the free energy available for us.But it needs huge capital initially for the setup but its worth to invest.I think solar energy is the best of all other energy the availability is more than other sources but it can't be done in some countries because there is not enough sun rays falling on their country.
Miners should absolutely consider renewable energy, particularly where it will save them money on the cost of electricity. If we want miners to ONLY use renewable energy, we need to make renewable energy cheaper than all other forms of energy.
In what world do you reckon renewable sources of energy are affordable for mining?
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