Topic: Ignoring Bitcoin Power Waste and the Crackdown on Mining it is about to Bring. - page 2. (Read 257 times)
December 30, 2019, 11:07:37 PM
So, in the end, you are saying that in the long run, miners wouldn't be able to sustain themselves since more power is needed to mine Bitcoin, and in the end, it would lead to no miners left mining it? I don't know if the time would come, but I have thought about it too. Miners are a vital sector that should continue their operations so that everyone could utilize Bitcoin. Maybe there could be some way to alleviate those kinds of problems like using renewable energy resources instead of the usual coal power. This issue should not be ignored.
December 30, 2019, 11:04:27 PM
I wouldn't deny that power requiment is indeed a pain area for lot of miners and China is cracking down on it heavily. We have also seen few instances where miners tried to steal power from the main grid to increase their profitability. But can you please look at the volume of such instances? A single instance in China, doesn't really describe the picture of the world. This is just an exception!
If a company has taken proper license to operate a mining farm, they had definitely given a power requirement estimate to their local power supply authorities. If a certain mining company is not having license to run mining operations, they would certainly be closed down by the local enforcement agencies! If someone is doing something illegal, will crypto community take the responsibility of it? Certainly no!
There are lot of other mining companies being operated worldwide. All of them require energy to run. How many similar instances you have seen?
China is not the world! Their communist government is not really friendly about bitcoin and other cryptos since its inception. We must not decide on the basis of an incident that happened in China!
If a company has taken proper license to operate a mining farm, they had definitely given a power requirement estimate to their local power supply authorities. If a certain mining company is not having license to run mining operations, they would certainly be closed down by the local enforcement agencies! If someone is doing something illegal, will crypto community take the responsibility of it? Certainly no!
There are lot of other mining companies being operated worldwide. All of them require energy to run. How many similar instances you have seen?
China is not the world! Their communist government is not really friendly about bitcoin and other cryptos since its inception. We must not decide on the basis of an incident that happened in China!
December 30, 2019, 10:56:03 PM
Well yeah if they tend to use it as illegal activity they should be stopped...
No wonder the police is taking measurements against such acts. What would you expect? Use electricity produced by companies for free?
Nevertheless they should go legal at least and use other alternatives. If they have so much money for buying so many rigs they should go solar panels instead.
I'm not a judger but that's what i would do if i would be consuming such amount of power for my own rigs.
No wonder the police is taking measurements against such acts. What would you expect? Use electricity produced by companies for free?
Nevertheless they should go legal at least and use other alternatives. If they have so much money for buying so many rigs they should go solar panels instead.
I'm not a judger but that's what i would do if i would be consuming such amount of power for my own rigs.
December 30, 2019, 10:03:21 PM
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