Topic: How much electricity does bitcoin need? - page 6. (Read 813 times)

In my opinion, the more the demands of bitcoin maybe more usage of electricity. We are using electronic device in every transactions in BTC that's why it needs electricity. It's a matter of disciplining one's self, if we love our mother earth then it follows the correct usage of consumption of electricity.

I think that these figures are very arbitrary. Who made this calculation and what indicators it used is unclear. You do not need to compare them either ...

Maybe you need to think about how much bitcoin uses energy? 0.5% is very, very much. What will be next?

Mining cryptocurrency is not terrible for the country's energy system - it's a drop in the ocean.
Now all automakers are planning to produce electric vehicles, which in my opinion will require more energy.

Without electricity we can’t do anything. Technology can’t update without electricity. Bitcoin also need electricity because of their customer’s transaction. It can’t work without electricity.

An of now,  estimated annual electricity consumption is around 71 terawatt hours that costs about $3,556,000,000. According to a single study quoted by the Independent.co.uk, it is estimated that Bitcoin will be using 0.5 % of global electricity by end of this year and that is a huge number.

If you are willing to know more about the energy consumption of Bitcoin then you can have a look on this webpage, "Bitcoin Energy Consumption Index".

if you mean the electrical energy used by the mining tool, then it's very big if the calculations are done on a world scale,
it looks like the power used, enough to turn a single Singapore country light

Machines crunch the algorithms, which are recorded for every single transactions. Mining for the bitcoins are difficult as opposed to the past where a desktop computer were used to mine for them, and now specialist hardware are used to mine them. In short putting an exact number of electricity is a bit complicated.

And more money. The unused power is not paid for, but the resources needed to produce it (which in many countries is still coal) are used.
It's funny that all this "green whining" became popular and everyone is repeating the same thing about Bitcoin being bad for the environment. If every household stopped leaving appliances on standby they'd save up at least $20 a year. Same thing for the LED lights. If they all threw away their tungsten bulbs they'd reduce their usage power usage by 80%.

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

for rough math

and because an S9 is 14thash. and uses nearly 1.4kwh (i rounded for easy pen and paper math)
for every 10thash=1kwh
for every 1000thash=100kwh =1peta=100kwh
for every 1000phash=100mwh  =1exahash=100mwh

so with a block being made ~6 times an hour and the network hashrate ~35exa

3.5gwh/6= 583mwatt/block
with 12.5btc a block = 46mwat/btc
= ~$2333 at 5cent/kwh  to mine 1 btc

now for the big question
its the same argument as a farm that produces 10,000 potatos a season but the supermarket only buys 9000 perfectly shaped potato.. the farm then has 1000 potatos that go to rot.. he cant resell them next year.. they are just deemed as rot/waste produce.
so having a family store or a neighbourhood co-op asking to buy 350 'wonky veg' potatos. means the farmr gets more sold and less goes to waste

power plants can produce many gwh.. and once it hits the electric pilons. its gone.. whether its used by resident or industry  or whether the electric is unused. it cannot go back to the power station to then be reused later

EG if a power plant produces 100gwh  but the country/state only USES 80Gwh
the 20gwh does not return to be reused. so its actually good that a industry is buying3.5gwh that would have gone to waste anyway.
yes there is still 16.5gwh that a power plant produces that is being wasted/lost. but atleast now a power plant is getting more utility

Mining bitcoin unquestionably requires power and the amount it requires to mine is a theory. In any case, plainly it requires more power today to mine one bitcoin than a few years back.

Going in and out of BTC or any other crypto means you're going get hit twice with the spread that the middle men are taking. And that's not even considering if there's actual fees on top of the spread(which can be pretty big too). Not many situations that you can really get in and out cheaply.

80% of what country's electricity ? bitcoins  use to much electricity.



The bitcoin network currently uses as much electricity as Ireland and is set to consume 0.5 per cent of all the world’s electric energy by the end of this year.

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

https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-mining-energy-use-electricity-cryptocurrency-a8353981.html

Thta's very complicated to calculate and it consumes a great amount of electricity.

Mining bitcoin certainly requires electricity and how much it requires to mine is a speculation. However, it is clear that it requires more electricity today to mine one bitcoin than a couple of years ago. Relatively, the cheaper electricity is in your country, the easier it is to mine on the all.

Well, bitcoin need a huge amount of electricity. Moreover, it differs from country to country. More to that, it also depends on how you are planning to invest on it.

Mining requires energy but it cannot be said how much because it depends on how big the minor is. But it cost a considerable amount of electricity.

As you know, a bitcoin digger usually uses up to six graphics cards. Even more recently, when using NVIDIA's VGA, the number of a VGA array has increased to 8. However, the most commonly used are 6 VGA arrays. For reliable and reliable power supplies, users often choose high power (PSU) power supplies with a capacity of 1000W - 1500W. So we spend 24 KWh for 1 day and 720 KWh for 1 month.

Consumption of using electricity for bitcoin is not totally volume and fully consumed because computer or cellphone is only minimal output of current this is not like a big factory that fully used of electricity, so  bitcoin using energy is not cause if there is a problem in our planet earth.