Topic: Bitcoin uses too much energy? - page 3. (Read 1116 times)
In my opinion bitcoin mining doesnot uses much energy or electricity instead the electricity used by use in our homes or offices or public places like banks, cafe etc are much more on higher side than bitcoin mining. moreover it doesnot cause any harm to our computer systems also.
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.
Many say bitcoin use too much energy and it is a popular debate that we see going on about the environmental damage that is done due to bitcoin mining and I have heard some miners say bitcoin mining consume more electricity than other currency mining and some even don't mine bitcoin anymore specially in countries like mine where electricity prices are high so there wont be any considerable amount of profits at the end for the investment but hope with better solution this situation will change or this will become a major issue for the environment if majority of the population starts to use bitcoin
We can't calculate the energy that consumed by bitcoin, if that was the bad problem it's easy to fixed. They're some option to save energy like solar and hydro power. For me some of the big mining companies are using solar panel to operate so no worry at all. It's not a big deal because they used big energy and get big profit and pay their bills. If there are shortages of energy then the problem are not about them.
Certainly bitcoin uses too much energy but this huge amount of energy is consumed in order to generate money. So if I can get cash from this, i don’t really have any other option but rather stick to it, to earn more.
There must be a solution to this energy problem. If the Blockchain networks are to be sustainable in the future, this energy problem should be resolved as soon as possible.
Yes ofcourse, bitcoin consumes much energy.
As a matter of fact, it is estimated that the bitcoin has consumed energy that is as massive as the energy consumption of the country of Singapore .
As a matter of fact, it is estimated that the bitcoin has consumed energy that is as massive as the energy consumption of the country of Singapore .
Big projects always consume large number of energy but it also produce big profit and they pay for their usage of energy so, it is not a big deal.
I think and as I see that there is no special energy required, that demanding attention and integration with the crypto-world. So I spend little energy for bitcoin, some more, all in different ways)
We can't measure how much energy we used to bitcoin as long that you want to used bitcoin whatever you want, if you want to earn profit you will not count that energy that you used because your goal is to have a money not counting the energy that you used.
I am not sure that people who are hunting for Bitcoins and mine them think a lot about the energy they use. Yes, they have to pay for the electricity but they get more. maybe, in future, the solar energy will be used for the crypto. Why not?
solar energy is already implented within the use of crypto mining but solar energies cant produce enough power in order to mine a coin succesfuly so they refrain from using it . miner are now using high powred hardware devices because it is more effecient to use than any other forms of free energy like solar , win or water .
bitcoin only uses a lot of energy if you are mining it but if you are only using your bitcoin the normal way like for paying , trading , investing , then it doesnt consume to much of electricity .
Bitcoin does use some energy during the mining process and I agree with that but that is a necessary cost to spend when we want to do a better transaction without any problem or interruption unlike other systems or sources. Also we see more and more sustainable mining methods are invented very often so I don't think this issue will be any more in the near future and Bitcoin will consume less energy than ever soon
We can't measure how much energy we used to bitcoin as long that you want to used bitcoin whatever you want, if you want to earn profit you will not count that energy that you used because your goal is to have a money not counting the energy that you used.
I am not sure that people who are hunting for Bitcoins and mine them think a lot about the energy they use. Yes, they have to pay for the electricity but they get more. maybe, in future, the solar energy will be used for the crypto. Why not?
In my opinion, i think that it is just another reporter looking for a good story. Maybe Bitcoin uses too much energy. But what about other normal currency, it also take energy to print it , to calculate it , to follow it. And it is totally normal procedure for money. Bitcoin can't be followed or traced. I think that it should consumes less energy than the normal money.
You (and most of the people) are focusing on the wrong thing bitcoin uses too much energy it's not true.because when anybody speak bitcoin uses a lot of energy, it means that he has small knowledge.but i maybe they will be able to solve the issue of power usage.
that's true because mining requires intensive energy, so much energy is needed when working on our goal for bitcoin so we have to calculate the energy we do because this is very large technology
Mining is energy intensive, however the actual energy consumption used by crypto overall is a tiny fraction of global energy demand. It would be better though for the planet if we could make a contribution to the reduction in global energy use by finding a better and less energy hungry way to mine.
It depends on how to compare energy of costs. You need to try a compare the estimated costs of maintaining the bitcoin network with a lot of employees of financial structures that Bitcoin doesn't need.
It does the consumption is very high , the flock of new miners and old ones are making electricity demand high and non profitable to mine due to rising demand and supply for electricity in mining btc alone. Mining cause too much consumption using energy.
We can't measure how much energy we used to bitcoin as long that you want to used bitcoin whatever you want, if you want to earn profit you will not count that energy that you used because your goal is to have a money not counting the energy that you used.
Bitcoin uses too many energy only because it needs too many energy and there is no shortage of energy and if they have no problem then why we face problem.
It is right because it is a huge technology so, it needs a lot of energy to run the whole system and I think they should make their own power plant.
Jump to: