How much electricity does bitcoin need? - page 5.

Siren

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Quote from: Timere on June 21, 2018, 08:51:27 AM

Quote from: Magiklair on June 21, 2018, 08:43:42 AM

We can estimate the energy consumption, based on the complexity of bitcoin. Complexity is the value calculated by the protocol and attached to each block. Complexity measures the average number of hashes left by the miner to search for one real block.

I think that to calculate how much the entire network uses bitcoin and compare with the amount of energy that a particular country uses can only be done with special skills in the field of electricity

Even though how skilled the person is,still no one can calculate the usages of bitcoins electricity the whole world.and besides i believe that what you have said in the OP above wasnt the right volume of whats the true electricity needed,you should have drop some links on where did you get that idea

Quote from: maneka on July 04, 2018, 02:02:01 AM

Bitcoin needs a lot of power so you can maintain it, it's pretty high

What maintaining youre talking about?you noob speaks when you really have idea abiut the topic but if not stop talking as if there's an understanding about issue

maneka

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Bitcoin needs a lot of power so you can maintain it, it's pretty high

Thecryptocurrency09

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Quote from: Timere on June 21, 2018, 08:33:15 AM

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?

Using bitcoin really does need the use of electricity. This is just like e ordinary consumption that we are using with the medium in bitcoin. This may only differ depending on the user itself if he or she will choose to use it all day or all night. Therefore, there is no discrepancies in using bitcoin with other applications.

Googlegenius

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Quote from: Marlo Stanfield on June 22, 2018, 02:54:27 PM

Quote from: sponge_bob13 on June 22, 2018, 12:14:58 PM

Though bitcoin mining requires energy but I really don't think this expense can be so much like 80% of the total energy. It costs much electricity but that doesn't mean it will be such big amount.

In theory it's possible if it really took over the world in some form. 80% is probably pretty unrealistic though unless everything else became super low energy(which probably won't happen).

At this moment its realy exoensive to mine bitcoin due to the cost of electricity and the profitablity is very low.

kkukkugaga

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Hello World!

I don't think btc uses so much electricity. Aside from the gadgets and other devices use for transactions, it looks like it doesn't consume that much electricity. Besides, we only don't depend to the main source of electricity, since there are other renewable resources that is now used for electricity consumption. In my opinion, it's a bit difficult to compute the consumption because of the vast number of users and investors btc have right now.

bitllionaire

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Quote from: esatceza on July 01, 2018, 02:38:04 PM

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

I myself never think about it that how much electricity is needy by bitcoin, i am using it as normal and i never even feel any extra electricity that bitcoin may be using. To me i am no doubt getting a good profit from bitcoin, therefore i will even continue using bitcoin it it require a some extra electricity. Because i even want to continue getting profit from bitcoin.

Kapyong

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Writer

Gday aundroid

Quote from: aundroid on June 23, 2018, 03:58:42 PM

The following table shows the evironmental costs of bitcoin mining compared with other systems.

Only the energy consumption was considered in this study, so things like producing gold mining machinery, storing and transporting, constructing about 600,000 bank branches etc. were excluded

Undoubtedly bitcoin mining consumes less energy than the other systems like gold mining, banknotes, coins and the banking system

Wow !
Accurate and relevant facts clearly expressed.
Fantastic

Wish there was more of it here.

Kapyong

Kapyong

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Writer

Quote from: Crypto one on June 23, 2018, 03:45:03 PM

One single bitcoin transaction requires as much electricity as the average Dutch household uses in a month.

What rubbish !

One transaction costs a few CENTS only.

Kapyong

Marlo Stanfield

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Quote from: esatceza on July 01, 2018, 02:38:04 PM

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

There are massive, massive mining farms(mostly in China) using huge amounts of electricity. Some are set up directly beside hydroelectric power stations even.

Abigail Asi

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Well I don't actually know the energy consumption it takes but I know that mining bitcoin consumes much energy.

esatceza

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www.thegeomadao.com

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

Dexion

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you should read and look for information about the article Deetman that related to electric power consumption on the bitcoin network. I will explain a little bit about the consumption of electricity in bitcoin network, he took a reference from Christopel Malmo's article, and Malmo explained that 1 transaction in Bitcoin network requires the same electricity consumption as the daily consumption of 1.6 home in America.

Deetman has experience in electric development scenarios, electricity consumption is also dependent on hash, hash required for solving complex mathematical algorithm solutions, and according to Deetman, this mining process will consume 350 megawatts of electricity, and the amount is equivalent to 280,000 households in the America.

Pancheng

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If you are in a sunny places like almost near to dessert you don't have to think too much on electricity since you can have solar power, but for country who solely rely on government electricity is a problem on your side as a miner specially when you only have few equipment to use.

InvestICO2L

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Quote from: Apes on June 28, 2018, 10:11:50 PM

Using bitcoin requires Electricity to work, but I do not think it's predictable how much power is used all depends on who's using it .. and all also depends on the tools used to get bitcoin, most tools require more electrical power and most likely will be a lot of bitcoin to be in can ..

This is such a very difficult question for anyone who don’t use tool for mining. I think that only professional miners know this sort of information. Yep, I think it’s up to the tool that requires big or small amount of electricity . Often a miner, who has a deep research on this field, will know what tool can help him to save more electricity. I think that to mine bitcoin, the miner probably burn a huge amount of energy because in the beginning of this year, I’ve heard the news that our government starts to increase the price of using electricity with miner.

Timere

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Quote from: Onah on June 28, 2018, 10:00:32 PM

Quote from: Timere on June 21, 2018, 08:33:15 AM

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?

One of the greatest questions ever. We consume too much energy for cryptocurrency. More and more people joining, buying miners or running pcs for staking.

I dont think we can measure the amount of energy that people have used and the fact that we are not making any significant improvements in green energy is also a sad fact.

On the one hand, it's very bad that we use so much energy. But I think that, on the other hand, it pushes humanity towards the invention of new technologies for obtaining energy.

makatia

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I think it can not be so much as that, 80% is impossible

Apes

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Using bitcoin requires Electricity to work, but I do not think it's predictable how much power is used all depends on who's using it .. and all also depends on the tools used to get bitcoin, most tools require more electrical power and most likely will be a lot of bitcoin to be in can ..

Onah

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Quote from: Timere on June 21, 2018, 08:33:15 AM

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?

One of the greatest questions ever. We consume too much energy for cryptocurrency. More and more people joining, buying miners or running pcs for staking.

I dont think we can measure the amount of energy that people have used and the fact that we are not making any significant improvements in green energy is also a sad fact.

boksoon

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Quote from: Timere on June 21, 2018, 08:33:15 AM

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?

If bitcoin operated for the whole country of course all transaction are usually made only using gadgets such as cellphone and computer but using electricity for the said gadget are not so volume of electricity than the factory using electricity so, these will not affect to our mother earth.

iotarocket

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Bitcoin energy consumption is expected to equal the entire consumption of Japan in the near future. This is why cryptocurrencies must migrate away from PoW and why nations must shift to renewable energy. The shift to PoS is welcome.

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