Bitcoin uses too much energy? - page 5.

DrGuns4Hands

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Quote from: SimpleBitMaker on August 13, 2018, 03:04:36 PM

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.

Speaking about energy, yes indeed, it really takes a lot. Thus, it is not only the ability of an individual has been tested but rather his attitude, moral and also his patients. When we come up with such thought, one reason that we should also have to consider - is the energy of our mind. This would indicate the difficulties of our mind to analyze the market on when to invest and when will be necessary for us to make such a move - buy and sell - in the market,

boss1dg

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Bitcoin mining difficulty is also increasing and it is getting more hard to mine bitcoin , energy requirement by bitcoin network is valid but i expect output should be more valuable , that too will be possible with the lightening network .

jojohamasa

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Quote from: SimpleBitMaker on August 13, 2018, 03:04:36 PM

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.

Cryptocurrencies mining operations need tremendous energy, reaching 19.2 TWh in 2010 .

This information is contained in whitepaper for a green energy project
Either the solution must be on more than one way
The transition of companies from ordinary sources of energy to renewable energy
Use blockchain in power projects because they offer great advantages.

Twinkledoe

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Quote from: slackcryptoz on August 29, 2018, 05:49:26 PM

Quote from: AGD on August 27, 2018, 02:32:33 PM

Mining gold wastes a lot energy and ressources. Yet we accept it.
The entire banking system needs huge amounts of energy. Yet we accept it.
People are wasting energy in a large scale. Still we accept it.

What is different when Bitcoin uses energy to support a decentralized network?

That's a clear statement, people simply say bitcoin has lead to massive loss of energy supporting decentralized activities. As in the above quote just before revealing such a statement one should analyze themselves about the different operational sectors that consume more energy.

Everyone is using a lot of energy. And he has valid point on that. Bitcoin utilizing energy is no difference from them. But, you can always use alternative source of energy like solar or wind energy to mine bitcoin. Tongue

slackcryptoz

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Quote from: AGD on August 27, 2018, 02:32:33 PM

Mining gold wastes a lot energy and ressources. Yet we accept it.
The entire banking system needs huge amounts of energy. Yet we accept it.
People are wasting energy in a large scale. Still we accept it.

What is different when Bitcoin uses energy to support a decentralized network?

That's a clear statement, people simply say bitcoin has lead to massive loss of energy supporting decentralized activities. As in the above quote just before revealing such a statement one should analyze themselves about the different operational sectors that consume more energy.

killerfrost

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Right. Bitcoin is using too much energy. Typically, the use of electricity to exploit bitcoin. People are using a lot of highly configurable computers to dig up bitcoin so it consumes a lot of electrical power around the world.

Bitcoinislife09

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Quote from: SimpleBitMaker on August 13, 2018, 03:04:36 PM

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.

In my opinion, energy consumation is already been a problem even before. What others should say is that bitcoin is added as a contributor to this. Everything existing and being developed nowadays really do consume energy. And I believe, there are ways to solve this problem. And that would be the use of natural energy. There are lots of ways to make alternative power resources. Investing, saving and helping nature is what we should do.

JuliusJosh

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Too much energy? Well, over to the team of scientists and researchers in that regard. When you factor in the electricity involved I'm transactions alone, you'll know it does make for an awful read concerning that electricity news.

Inasal03

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For that energy we can use that not for our body energy we can use energy for our mind because here were using here our mind.

Boknoi321

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Quote from: zenhu on August 25, 2018, 12:42:14 AM

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?

I agree with you men. As long we are earning we can use more energy even though it will cost so high. We work hard to earn and gain that are the common mind set of some member of these forum.

Odlanyer

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Bitcoin is transaction all we need to this is a effort and time and the knowledge without that three you can't used bitcoin properly. We can't measure how much energy that we consume while using bitcoin as long it's profitable no matter how much energy it uses.

fosco333

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Quote from: SimpleBitMaker on August 13, 2018, 03:04:36 PM

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.

What energy you mean ? If it is about electricity, then mining bitcoin is not using much energy in my opinion.
You can see many companies that using much more electricity than mining bitcoin. However, we still need to using our resources with cautions.

ylnar123

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Quote from: SimpleBitMaker on August 13, 2018, 03:04:36 PM

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.

Bitcoin using energy? How can a currency even use energy? Even when Bitcoin is just a digital currency but it will never use energy to power it up.

nagasaking

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Bitcoin works according to the algorithm, to increase the number of miners, it is necessary to spend more power to get a new block. So in the future, maintenance of the bitcoin network will be consumed in more energy than now and I'm not sure how it will be resolved.

orarider

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Right. Bitcoin is consuming the world's energy. Banks now need a lot of energy to manage and trade bitcoins. The use of highly configurable computers to dig up bitcoins also consumes a lot of energy.

Osakrita

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Too much energy consumption is one of the arguments they use against bitcoin, they fail to also mention that banks use 4times the value quoted for bitcoin at the least. So which is more at consumption of electricity?

yansen

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maybe it is true, Bitcoin consumes a lot of energy, especially electricity in its mining, because Bitcoin mining through internet and computer networks is very heavy. on the youtube video https://youtu.be/K8kua5B5K3I which was covered 3 years ago they informed that the electricity cost reached $ 80,000, it was fantastic, because of the 1 city electricity needed by the mine. and it consumes energy.

xWolfx

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Donating 10% to charity

A lot of resources gets wasted everything in the world, especially in places where the abundance of public services like electricity and water exists, like first world countries or main cities.

That being said, Bitcoin uses a lot of energy but also the everyday consumption of the world with or without it. That consumption will decrease as soon as the mining of Bitcoin finishes, since a good chunk of it is precisely miners. It will continue with the other currencies though.

However, as the world moves towards clean energies i believe it will start to be less relevant. It's about time the human kind starts that shift.

muncuss

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For me, bitcoin is valuable because it is hard to obtain it. Those money we spend on expensive hardware and electricity is a backup of bitcoin value.
Then if bitcoin mining consumes more energy, isn't it will be more valuable?

AGD

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Keeper of the Private Key

Mining gold wastes a lot energy and ressources. Yet we accept it.
The entire banking system needs huge amounts of energy. Yet we accept it.
People are wasting energy in a large scale. Still we accept it.

What is different when Bitcoin uses energy to support a decentralized network?

Topic: Bitcoin uses too much energy? - page 5. (Read 1173 times)