Topic: Bitcoin uses too much energy? - page 2. (Read 1173 times)
Yes, I also agree that bitcoin use many energy but it is normal because in order to run a big project huge number of energy is essential.
I don't agree with you because there are many other institutions which use much energy and they pay for that then what is wrong if bitcoin use it.
Bitcoin uses too much energy and most agree on that but it is not a problem with bitcoin but there is a problem with the power source we used to mine bitcoin because most miners use home electricity mainly because it is the most convenient method they can find but this is a era where even cars and houses use solar electricity to run instead damaging the environment but yet even for a great innovative currency like bitcoin we haven't found an innovative way to mine it and we accuse bitcoin that it is making environmental damage but we already have the technology to stop that right now but nothing effective is happening
Actually bitcoin do not use too much energy, the miners are user to use too much energy, they use a lot of mine machine to mine bitcoin and other altcoin. that is the reason that the energy uses too much by bitcoin
https://motherboard.vice.com/en_us/article/7xmvbq/bitcoin-energy-science-world-electricity-demand
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
The solution is private green power plants. Such a current practically does not cost and does not consume natural resources. This is a very good solution. Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
https://motherboard.vice.com/en_us/article/7xmvbq/bitcoin-energy-science-world-electricity-demand
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
I don't think Bitcoin power consumption is at a worrying level at least for now. Why did you say counterproductive, anyway? You should compare Bitcoin energy consumption against other financial service energy consumption too. All those ATMs from banks all around the world, working 24/7, how much energy is used to power them? How big is the environmental effect for making paper money and coin? If you take them into account I'm sure Bitcoin energy consumption isn't something to worry about.Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
If we do not use the energy to mine bitcoin we still use it for another thing to make more money though, and as long it's profitable no matter how much energy it uses there will be no problem at all right?
There is no problem with energy usage as long as what we do is helpful to our country, specifically to our economy. Even the bank, the industry uses too much energy.
By consuming energy to produce and maintain Bitcoin, one can not judge its quality, it is a cost price, but rather vice versa, if Bitcoin is a popular crypto currency, this is justified, as well as the production of any branded gadget or space rocket.
I believe that at the moment energy consumption is not the main problem. The banking system also uses too much energy.
Bitcoin is developing recently as a passive, they seem to live, but they are not visible in the cryptocurrency market, I hope soon they will come to life and show themselves in full force.
Every aspect of the industrial use require energy and even all the sectors consumm lots of energy e.g the banking sector and all the rest, bitcoin is not an exception and due to the peculiarity of the blockchain technology and mining activities bitcoin transactions requires constant energy but the question we should ask our self is is it profiting if it is then why complaining after all the energy will still be used by other sectors of the economy.
By consuming energy to produce and maintain Bitcoin, one can not judge its quality, it is a cost price, but rather vice versa, if Bitcoin is a popular crypto currency, this is justified, as well as the production of any branded gadget or space rocket.
https://motherboard.vice.com/en_us/article/7xmvbq/bitcoin-energy-science-world-electricity-demand
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
First and foremost, energy is not issue at all it does not matter how energy you produce as long as you earn more money from it, energy is not issue. But in terms of consuming energy that involves economy, we could say that it is too much energy are produced but, since solar power are already implemented we cannot assure that this are enough to mine a coin successfully. But back to the topic, like waht ive said energy is not issue at all as long you earn money it does not matter.
Statistics may have pointed that bitcoin is using too much energy but when considering the return that bitcoin provide for its users it is beneficial because large number of people now rely on bitcoin as traders , investors or as users who use it as a currency for payments and there are individuals who have made bitcoin there only living source so if we neglect bitcoin by only pointing its one problem we have forgot all its benefits in the process so rather than accusing bitcoin we need to find a better solution to fix the problem or to reduce it
https://motherboard.vice.com/en_us/article/7xmvbq/bitcoin-energy-science-world-electricity-demand
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
Bitcoin really uses too much energy and many miners say that because earlier bitcoin mining was considered as easy and very profitable and that is the main reason many miners were joined to the network but now things has got little complicated because electricity in many countries are not cheap and even mining hardware is too expensive so most miners think bitcoin mining power waste at least should be reduced in coming years so miners can take a profit than a lost and it will do good even to the network
Of course it uses energy but i'm not agree with the statement that it uses too many energy and it pay for the energy that it use.
Gold mining consumes a lot of energy and resources. But we accept it, the entire banking system requires enormous energy. But we accept it, people waste energy on a large scale. We still accept it.
it is true that the energy that is used on bitcoin is very much, bitcoin is the most energy-intensive digital currency, the energy used in bitcoin is unlimited, bitcoin is becoming more visible to the public.
https://motherboard.vice.com/en_us/article/7xmvbq/bitcoin-energy-science-world-electricity-demand
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
Now Motherboard is not the best source for news, but let's consider the implications of this...
Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.
However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.
That is the opinion of many miners and like others I think this is a negligible issue because the out come of the bitcoin is much better than the cost but this issue should be fix as soon as possible because this increase the mining cost immensely which reduces any gains for miners who came to the mining field with the desire to earn bitcoins and there job is very important to the bitcoins future and its existence
Bitcoin uses too much energy?
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