Topic: How much electricity does bitcoin need? - page 3. (Read 860 times)
Not just depending on the main source of electricity may be a bit difficult to calculate the consumption required a lot of the number of users and investors bitcoin owned today.
Who owns the reliable information that the network bitcoin uses more than 80% of the countries separately electricity. Bitcoin also multiplied by several times the amount of energy consumed in the last year. Is this really true, who will say? So there are thoughts that bitcoin in a couple of years will be a threat to the energy situation on the planet?
There was a news that I heard that in the coming decade, bitcoin is going to use doubtthe amount of electricity, used by the entire world currently and I think this is totally useless because this is not even possible and I find this news to be completely hypothetical because the only requirement for operating bitcoin is the internet and I don’t think that internet is using that much of energy as more than required by the entire world so I find this news very irrelevant.
According to Bevand's own calculations, we should expect bitcoin to use 0.2 to 0.3 percent of global electricity by the end of 2018, about half of what is predicted by de Vries.
Who owns the reliable information that the network bitcoin uses more than 80% of the countries separately electricity. Bitcoin also multiplied by several times the amount of energy consumed in the last year. Is this really true, who will say? So there are thoughts that bitcoin in a couple of years will be a threat to the energy situation on the planet?
Whos crazy idea that given you this 80% of electricity has been consumed by bitcoin?and what about you noob that believing this crap?suck dude even the biggest malls in the whole country cant consume this huge amount of electricity.better stop smoking weeds buddy because this bringing you down.small volume of people are mining for bitcoin in every states so dont be exaggerated
when we talk about bitcoin it is very broad, but when you say that it is a mining then where did you get a 80% of the electricity consumption is done by the bitcoin industry, when the popularity of bitcoin has not yet reach 80% of the world.
I see it is not a problem. You know that it helps maintain the bitcoin system and it could not be called waste, on the other hand you want to exploit any resource such as gold, silver, diamonds and even coal you also need some amount of power not small
I guess this article will help you to get a real picture. if you google a little and spend an hour to read, you won't need to ask others
https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/
https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/
It's really hard to calculate the amount of electricity that bitcoin needs But I believe that is not a small amount of energy
It's overestimated the amount of electricity that bitcoin need. And even Bitcoin needs a large amount of electricity to work but it is still not harm our environment
The power scarcity discussion is a funny one to me. Humankind will do anything to survive, if we look at how many countries have not utilized nuclear energy and let's only consider the allegedly cleanest nuclear energy (Thorium based nuclear energy), then the energy cap might be way bigger than we can imagine right now. Just keep in mind that profitability is higher, when something is scarcer.
According to Power Compare, bitcoin consumption is still not comparable to a few individual countries, such as South Africa, Egypt and Algeria. So far, Bitcoin's estimated annual consumption is about 29.05 TWh - equivalent to 0.13% of the world's electricity demand. That is a concern.
A side from reading english or understand english you should have electricity too. Because how can you use your pc or charge your cp if you dont have.
Bitcoin as a matter of fact depends more on mining and in that case it needs more power which we all know has to do with electricity not only that, it needs constant and steady operation which results to a very high power consumption. No doubt, it is very functional and running for years now as a result of its steady electricity supply so therefore, i would rate and say a 100% electricity power supply needed to run Bitcoin.
It is estimated that mining of bitcoin has consumed energy that is more than what the entire country of Singapore consumes from January 2018 to April.
If it continues like this, we might as well start looking for an alternative source of energy.
If it continues like this, we might as well start looking for an alternative source of energy.
Bitcoin doesn't need huge amounts of electricity. Increase in electricity consumption is a result of increase in mining difficulty, and the increase in mining difficulty is the result of miners competing more and more with each other, making blocks being found faster, and the algorithm automatically increases the difficulty to adjust the block time back to 10 minutes, making the network spend more electricity on it. If half of the miners* lose interest in Bitcoin tomorrow, in less than 2016 blocks generating Bitcoin will consume half of the energy required now. And it will not affect anything else: block time will still be ~10 minutes, its size will still be 1 MB max, transactions will be handled just the same. Electricity consumption is directly correlated to how valuable mining it perceived by people.
* miners owning half of the current hash power
* miners owning half of the current hash power
Don't wanted to say but to be fair energy is really wasted in bitcoin mining. For example if you know georgia, it's third country after china and usa in bitcoin mining, this country is very small and people here are in number less than Croatia. And such a small country is almost third in mining (if not third, it's in top list but I read somewhere it's third). So imagine, people like easy/free money here + add Bitfury to this which gets electricity in very cheap price and they are in tax free zone. For this reason people have to pay higher in electricity compared to last years.
Yes, Bitcoin need huge amount of electricity. But i think, It will not become threat for companies because it's achieve more benefit from the power loss.
You need electricity costs about US $ 4,329 or Rp59.3 million (exchange rate Rp13.700 per US dollar) to mine a bitcoin in Indonesia.
This negativity about bitcoin's energy use is unwarranted. The banking and credit card system use much more electricity. If you factor in the buildings, employees, printing machines, computers, etc it is a much higher total cost than the btc network.
We only need small amount of electricity to run bitcoin effectively. Bitcoin doesn't require us to spend huge amount of electricity. In order to run bitcoin all we need is just enough electricity. Good thing is that we can be successful in bitcoin by just spending small amount of electricity. It's very cheap yet efficient and effective. 
This negativity about bitcoin's energy use is unwarranted. The banking and credit card system use much more electricity. If you factor in the buildings, employees, printing machines, computers, etc it is a much higher total cost than the btc network.
Actually if you are a bitcoin holder you don't need to spend much electricity. If you will just work wisely in this system you will figure out that in order to be successful in bitcoin spending so much is not needed. We can make use of electricity in bitcoin efficiently. It only needs small amount of electricity that is enough to run bitcoin. Jump to: