Topic: Mining Bitcoin Doesn't Need To Worry About Spending Electricity (Read 424 times)

using alternative energy isnt really effecient when mining because mining requires alot of power to be able to mine a coin succesfully .  using alternative energy isnt also helpful to the environment because your mining hardware will still blow polution or excess waste whenever you run it .

Depends,
if you choose a high inflation PoS coin, then excessive supply will cause a price drop over time as the markets become saturated.

If you choose a low inflation PoS coin, then price per coin will grow over time as its utility as a payment system grows.  

we  can use alternative energy sources so it can save electricity and we can also protect the environment against global warming risks.

Can the power saver system be used in all countries? Because in my country electricity is very expensive, if we start for minning there will be a lot of electricity.

I have some coin that are proof of stake consensus base and I have being receiving more coin. I want to ask a question the is disturbing me, If we keep on getting more coin just for keeping would it make the coin to be too much in circulation thereby causing dropping in price?

I have been saying that many times in the technical and development subforum, but not one of you was debating Ali-someone about it. He proposed ProgPow as a replacement for SHA256, which he "claims" is ASIC-resistant.

if bitcoin is changed from Proof of Work to Proof of Stake, the capitalization value may decrease because the process of getting or mining bitcoin does not require a large fee.

Can the power saver system be used in all countries? Because in my country electricity is very expensive, if we start for minning there will be a lot of electricity.

exactly
the only reason you have not seen this really happen is that the coins that do PoC(proof of capacity/cpu/components) are coins that are worth very little and have no real merchant real life utility. so its not worth the bother.. however if a coin should become popular then you would see pooling/farming begin.

as said before some of the popular PoS coins are already seeing people pool funds together or use exchanges as their pooled/syndicated stake, leaving the little guys with alittle dust amounts (hobbyists) with no chance

also coins that have no 'acquisition cost' to get fresh coins, EG PoS(requirements is just a signature) also dont have good bottomline 'value' price support. literally if it costs nothing to get the coin people will literally sell it all the way down to a penny and still consider it profitable. so its not just a security of the data that PoW helps. but also the security of the bottomline price supportline as it costs something to make fresh coin people wont just sell it at any price. they will look to sell only above what they paid to get it.

Digital money such as Bitcoin is known to have serious problems, where they rely on electrical energy with considerable power requirements or proof of work to mine it. However, there are now other options or choices.

Honest Mining's Chief Executive Officer, Lawrence Samantha, said that around 20 percent of companies that are in this business have moved to an option called proof of stake.
At present he is supporting these companies to use proof of stake. Lawrence explained that this scheme makes electricity far more economical.

The adoption of this technology, called Lawrence, will not affect business. However, he stressed that proof of stake is far more environmentally friendly and power efficient.
He said, if previously focused on the 'work' side, now the new technology is more concerned with the 'stake' or ownership of digital coins.
The use of proof of stake Lawrence claims is superior when viewed from various sides. This is evident because several companies that run the new project have adopted it. And, more than 20 percent of the digital coin business in the world already uses this technology.
"The new project has entirely used proof of stake. If the old one is in the process of being considered. It may still be the stage of sight-seeing. The Ethereum company which is in fact the second largest in the world will also move soon. The process is long because the network is extensive," said Lawrence .

This socialist drama of giving the small guy a chance won't work even if we design an algorithm that can run only on a certain brand of gpu , x ram and z hdd space. Somebody with enough money will start assembling exactly this kind of miner with components bought in bulk from the manufacturer, at half the price the usual customer can do it and set up warehouses where he is earning x3 times more than the kid doing so in his bedroom.

But what is ASIC-resistance but another buzzword made by altcoins that want to claim that they are? If any altcoin has become "successful", ASICs will be made for them. Some altcoins that changed their mining algorithm because they "feel" like doing it in the name of "ASIC-resistance" are only prolonging the inevitable.

In estimates are:
Bitcoin is currently using electricity worldwide at 2.55 gigawatts, equivalent to Ireland's electricity, the 118th largest country in the world by land.
this is equivalent to half a percent of the world's total electricity usage so don't worry about the electricity that Bitcoin miners use for the future is still safe.

But what is ASIC-resistance but another buzzword made by altcoins that want to claim that they are? If any altcoin has become "successful", ASICs will be made for them. Some altcoins that changed their mining algorithm because they "feel" like doing it in the name of "ASIC-resistance" are only prolonging the inevitable.

The problem is that Bitmain and big companies with their asics already made it difficult for everyone to run his hobby nowadays  
I prefer asic resistance network although I didn't join any of it yet.