Topic: How much electricity does bitcoin need? - page 4. (Read 813 times)
i dont know that either how much electricty does bitcoin need if you want a PC miner you need 1 PC and video card it depends in video card that can mind bitcoin if you have more video card the bitcoin you have will increase and increase more the electricity you have use it to small it cannot affect in your work or in your house it has a website if you want to compute your own bill using the PC miner that you have and bitcoin salaries that you have earn everyday.
An informative article on the power consumption of BTC.
Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that
Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that
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?
Actually, the amount of energy required to mine bitcoin varies from process to process. the higher the power of the antminer, GPUs and the faster the Internet connection, the cheaper relatively the cost of mining bitcoins. During the earlier days of the bitcoin, the mining was faster and cheaper,, now that's not the case.
You know, Where there is problem, there is solution. If today that is a problem then tomorrow it will might be solved. Yes I know that Bitcoin needs more energy, so renewable energy sources are there to solve this.
Yes, bitcoin mining activity is one that consumes a lot of electricity. But I think, electricity is not a thing that can run out like petroleum, so I think it will be safe.
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?
Actually this topics ,we could not identify the exact electricity network bitcoin needs totally using in electricity,maybe this 80% that you stated is only speculation and we could not find the exact amount of electricity that bitcoin mining consumed,because its all depends of the country where should its belong,because every country have a different meters readings of electricity consumable amount.
What an extraordinary thread, we even have one guy computing mining power requirements based on 8 graphics cards. 
I believe that as Bitcoin becomes more mainstream, the single function miner will become a thing of the past, and mining processors will be added to a variety products to utilise spare electrical capacity, Room heaters, and hydro-carbon transport are two examples. I started a thread about this in the ivory tower a short while ago ( before I saw this thread ).
I believe that as Bitcoin becomes more mainstream, the single function miner will become a thing of the past, and mining processors will be added to a variety products to utilise spare electrical capacity, Room heaters, and hydro-carbon transport are two examples. I started a thread about this in the ivory tower a short while ago ( before I saw this thread ).
According to Forbes in January 2018 : If you run an Antminer 24/7 for a year it will produce about 0.85 bitcoins, at a cost of about 15,000 kilowatt hours. Depending on your power prices it will cost anywhere from $600 (at 3 cents per Kwh) to $1,800 (at 9 cents per Kwh) to mine one coin. Even with bitcoin having plunged to $11,600 this morning, there’s still money to be made, assuming you can get your machines cheap enough.
How true this is idk, I've never mined Bitcoin
How true this is idk, I've never mined Bitcoin
I also do not really know about the news yet, but if we think bitcoin miners always need a lot of electrical energy.
an example, if you have a bitcoin miner tool each of these tools one tool requires 30% energy if you have 2 tools then you will spend 60% every day and that in my opinion will continue to affect the amount of energy in the world this.
an example, if you have a bitcoin miner tool each of these tools one tool requires 30% energy if you have 2 tools then you will spend 60% every day and that in my opinion will continue to affect the amount of energy in the world this.
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.
Electricity may become a big problem of the world in the future but I stil believe we have enough resources to sustain our level of electricity. The cost is quiet lower for bitcoin compare to the usage of bigger buildings, but if the cost continues to increase for sure we, the investors will be the one to shoulder that cost so bitcoin can stay alive. 
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?
Actually this topics ,we could not identify the exact electricity network bitcoin needs totally using in electricity,maybe this 80% that you stated is only speculation and we could not find the exact amount of electricity that bitcoin mining consumed,because its all depends of the country where should its belong,because every country have a different meters readings of electricity consumable amount. 
I think it is a complicated question.most of work done on computers & cellphone who are very small part of electricity consumed.but on mining projects consumed large scale. so it can not judge how much electricity required for.
Yep, it cannot be measured easily but if you have mining rig you can know the cost of mining bitcoin by just looking at your electric bill. The cost is getting higher and this is why some ICO’s are focus on the renewable energy and hope they can succeed that project. 
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.
Forget about the electricity - just think who has to pay for that.
Everyday the entire community sends truckloads of cash to electricity providers. Money going out of our network is a reduction in value. In effect, Bitcoin network does nothing at all to increase its value, but spends shitloads of money on power. Perceived value of bitcoin might rise, but bitcoin attracts no revenue at all. So, with all the outgoing money and no incoming money, bitcoin is one of the most efficient loss making machines ever known to man. Only when people catch on to this will it end. And it will end horribly.
You can't keep paying out - with nothing coming in. That finally ends. This is why Ethereum is going to proof of stake soon. Bitcoin is fucked - completely fucked. But fortunately bitcoin has a lot of very dumb people who keep sending in more money because they think they are going to get rich.
Hahahahahahahahahaha!!!! That is so damn funny.
Everyday the entire community sends truckloads of cash to electricity providers. Money going out of our network is a reduction in value. In effect, Bitcoin network does nothing at all to increase its value, but spends shitloads of money on power. Perceived value of bitcoin might rise, but bitcoin attracts no revenue at all. So, with all the outgoing money and no incoming money, bitcoin is one of the most efficient loss making machines ever known to man. Only when people catch on to this will it end. And it will end horribly.
You can't keep paying out - with nothing coming in. That finally ends. This is why Ethereum is going to proof of stake soon. Bitcoin is fucked - completely fucked. But fortunately bitcoin has a lot of very dumb people who keep sending in more money because they think they are going to get rich.
Hahahahahahahahahaha!!!! That is so damn funny.
I think it is a complicated question.most of work done on computers & cellphone who are very small part of electricity consumed.but on mining projects consumed large scale. so it can not judge how much electricity required for.
The amount of electricity required for digging the bitcoin is really too big. The digging machines operate 24/24 continuously causing electricity consumption is huge. This is worrisome with global energy
I think not, 80% is a huge amount for electricity use in a country. And not all bitcoiner in all countries do mining, although there may be little and it is only small mining.
If the use of electricity by bitcoin miners compared to the amount of electricity used by large companies and the use of electricity by government buildings, I do not think it would be worth it. Bitcoin miners use only a small part and some even use alternative power so they can reduce their electricity bills but people always exaggerate, because bitcoin mining is a source of global damage.
If the use of electricity by bitcoin miners compared to the amount of electricity used by large companies and the use of electricity by government buildings, I do not think it would be worth it. Bitcoin miners use only a small part and some even use alternative power so they can reduce their electricity bills but people always exaggerate, because bitcoin mining is a source of global damage.
Bitmain - the manufacturer of equipment for bitcoin mining, is located in Beijing and Shenzhen. This company produces about 70% of the bitcoin-miners in the world on the basis of Taiwanese microchips TSCM.
The latest model of the Bitmain-S9 miner uses 19 nm microchips. Their performance is 4 TX / s (14x10 ^ 12) with an energy consumption of 1372 watts.
The latest model of the Bitmain-S9 miner uses 19 nm microchips. Their performance is 4 TX / s (14x10 ^ 12) with an energy consumption of 1372 watts.
Bitcoin needs a lot of electricity, it will remain strong, electricity is the main source of energy for it to sustain everything
Most of the most large bitcoin miners will soon start using green energy for mining and the amount of energy consumed will not be a big problem.
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