Topic: The Video Gaming Sector Consumes More Energy Than Bitcoin Mining. (Read 526 times)
September 09, 2022, 03:29:13 AM
This is not apples to apples because how many ppl game vs. how many ppl own bitcoin is the real question.
September 09, 2022, 03:26:03 AM
governments around the world like to control finances and economies through Fiat money. I don't know that paper production consumes so much energy, but no matter how many industries you describe that use more energy than bitcoin mining, but why such Bitcoin mining power consumption is the biggest and worst energy consumer, but maybe that's how they taint bitcoin as much as possible, using environmental damage card
September 09, 2022, 03:11:27 AM
The "idea" is that, even if it is lower than what other places are using, it is still a lot, we shouldn't just make more bitcoin mining energy spending just because there are others, we should aim at lowering all of them together. Do not show other big energy spenders, drop them too. However, it is not just about spending energy, it is also about the fact that we couldn't produce this energy from renewable stuff that could help reduce the problem.
But many media sources have begun to play the issue, that the energy needs for bitcoin mining are too wasteful, whereas in the statistics or charts that we see is not the case.The biggest two we have is sun and wind, if we could produce all worlds energy needs with solar panels and wind turbines then we wouldn't have any problems at all and we would be making sure that it is okay to spend as much as we want, as long as it is renewable.
The two energy that you mean, is a source that can be updated naturally and will never end, because it is always renewable in according to the natural methods.I don't really understand this problem, but I think both of them will never run out, may be the negative side caused is global warming. (Please fix it if it's not true)
But in contrast to the source of electrical energy, they can be created with as many methods, and the development of time has shown that electricity can be renewed, both from the solar system, rivers and other assistance.
Therefor, it is not appropriate if bitcoin is associated with waste of energy, althouls there are still compans that take greater energy sources.
September 08, 2022, 10:57:42 PM
Comparing Bitcoin mining to different sector that use energy doesn’t seem appropriate because there’s a big difference on the purpose for this 2 activities. Government is what you need to convince for justification of Bitcoin mining consumption and not the gaming industry. Besides it’s very hard to justify the power consumption of Bitcoin to the Government that didn’t want it at the first place.
September 08, 2022, 10:49:59 PM
According to this report
It has been discovered that the video gaming industry consumes slightly more energy than bitcoin mining, the graph am gonna share below clearly shows that mining Bitcoin consumes far lesser energy compared to -
-Paper production
-Gold mining
-And slightly lesser energy than video gaming.
It is reported that Bitcoin miners are utilizing electricity at a rate of around 100 TWh per year, this figure is said to account for about 0.06% of the world’s total energy demands, which is quite insignificant.
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
You need to understand that this is just propaganda, governments are trying to find any kind of way they can to attack bitcoin, and they know that the current generation cares a lot about the environment but they also know they can be gullible as well.It has been discovered that the video gaming industry consumes slightly more energy than bitcoin mining, the graph am gonna share below clearly shows that mining Bitcoin consumes far lesser energy compared to -
-Paper production
-Gold mining
-And slightly lesser energy than video gaming.
It is reported that Bitcoin miners are utilizing electricity at a rate of around 100 TWh per year, this figure is said to account for about 0.06% of the world’s total energy demands, which is quite insignificant.
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
So they are doing their best to spread misinformation about the energetic consumption of bitcoin so they can try to prevent people from adopting bitcoin, but even if this strategy can work for the short term it is not a strategy that can work for the long term because people are going to eventually realize the truth, but at least it buys them some time which is what they need right now in order to try to find a way to definitely stop people from adopting bitcoin.
September 08, 2022, 10:42:21 PM
@everyone. What is the video gaming sector in this comparison? Does this include Nvidia and AMD graphic cards? I think with electricity shortages and the prices inceasing, the government might begin to enter and regulate proof of work mining. This has been an argument before, however, the validity of the argument is only beginning to become a reality.
If the energy usage of the video gaming sector includes graphic cards and if proof of work mining will be regulated, I reckon it might give a good argument for some cryptocoins to maintain their Asic resistance for as long as possible.
If the energy usage of the video gaming sector includes graphic cards and if proof of work mining will be regulated, I reckon it might give a good argument for some cryptocoins to maintain their Asic resistance for as long as possible.
September 08, 2022, 10:05:20 PM
.
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
The answer to this is very simple, people talk more about Bitcoin mining since Bitcoin happens to be an asset that the government or authorities have no control over it, And since they can't control it tend to speak badly about it to discourage others from investing in Bitcoin, unlike gold, bank and paper industry which they have the power to control its price and industrial turn-up, because looking at the chart below vividly well, you could see that both gold mining and the banking sector uses more energy consumption compared to bitcoin miningMy question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/bitcoins-energy-use-is-less-than-half-of-banking-gold-sectors-report-175813423.html
September 08, 2022, 05:41:44 PM
You are making it look like Bitcoin's energy consumption is low, but actually it demonstrates the opposite. Gaming is a large sector of entertainment industry, it already surpassed movies and there are around 3 billion gamers. And how many there are Bitcoiners? 50 or 100 million? And how many of them use it as a payment method rather than investment?
Bitcoin has a bad energy consumption to utility ratio. And there's likely to way to improve that. But this isn't some critical flaw that makes Bitcoin unviable. Not everything in this world can be 100% efficient, that's just the reality.
Bitcoin has a bad energy consumption to utility ratio. And there's likely to way to improve that. But this isn't some critical flaw that makes Bitcoin unviable. Not everything in this world can be 100% efficient, that's just the reality.
September 08, 2022, 04:54:26 PM
The question is.... did these researchers dig a little deeper?
Did they calculate how much "clean" energy are used for both gaming and Bitcoin mining to see what the real impact is. Let's say Bitcoin mining was only done on renewable energy sources, like "Wind" / "Solar" / "Geothermal" energy ....then it will not be harmful.
The real difference is this.... Bitcoin mining use electricity to power a global payment system, where Video gaming use electricity to power systems for entertainment.
Did they calculate how much "clean" energy are used for both gaming and Bitcoin mining to see what the real impact is. Let's say Bitcoin mining was only done on renewable energy sources, like "Wind" / "Solar" / "Geothermal" energy ....then it will not be harmful.
The real difference is this.... Bitcoin mining use electricity to power a global payment system, where Video gaming use electricity to power systems for entertainment.
It's not that easy. You did the right thing by putting clean in quotation because it's not really clean. Wind and solar are only partially clean because they have their own issues. For instance, solar puts strains the grid during the day and doesn't produce anything at night. Wind does produce at night but requires a lot of maintenance to make sure the wind breaks work and the turbine doesn't overspin in high winds. It also costs a lot of resources to build. It takes so much steel, concrete and copper to build a wind generator that it's going to take a decade for it to pay for itself, provided that in those 10 years it doesn't break.
Germany invested a lot of money in green energy and has the most expensive power in the EU.
IMO nuclear power is not harmful. They should stop attacking bitcoin and think of ways to make energy cheap and affordable instead of trying to make it green at all cost.
September 08, 2022, 04:32:13 PM
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
It's because they only want to blame bitcoin mining for the lack of supply in other countries and regions. I guess that's the other side of being decentralized, there's no central authority to stop those blamers with their talks. Well, the truth is coming out and these people that have misunderstood bitcoin mining will now understand that it's not the culprit these energy problems but they have just romanticized it for them to have someone to blame and they chose bitcoin. 
September 08, 2022, 03:31:33 PM
That's why from the start I never agreed that bitcoin mining can consume a lot of energy, when compared to other companies, even bitcoin mining has a much lighter energy consumption level.
The question is why other companies have never been debated?
This graph shows how bitcoin mining actually works.
So when there is a debate that says bitcoin issues like that, then we can make a graph as a strong data reference.
The "idea" is that, even if it is lower than what other places are using, it is still a lot, we shouldn't just make more bitcoin mining energy spending just because there are others, we should aim at lowering all of them together. Do not show other big energy spenders, drop them too. However, it is not just about spending energy, it is also about the fact that we couldn't produce this energy from renewable stuff that could help reduce the problem.The question is why other companies have never been debated?
This graph shows how bitcoin mining actually works.
So when there is a debate that says bitcoin issues like that, then we can make a graph as a strong data reference.
The biggest two we have is sun and wind, if we could produce all worlds energy needs with solar panels and wind turbines then we wouldn't have any problems at all and we would be making sure that it is okay to spend as much as we want, as long as it is renewable.
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September 08, 2022, 02:48:02 PM
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
The fact that I can't even afford 0.5 bitcoin, let alone 1 full bitcoin made me really mad and jealous when I read people write all good things about bitcoin and how it has made them rich.
The above is just a short history of me and bitcoin, which have changed way before now, today, 90 percent of my crypto investments is in bitcoin....
So I believe the most people who say all sort of negative things about bitcoin are only doing so out of hate, because they missed bitcoin while it was still very cheap and affordable to all.
September 08, 2022, 02:37:06 PM
If you see on relative basis it's true that there are many other industries which are using much more energy than bitcoin or even Cryptos as a sector. Even many industries which aren't that useful itself like the tobacco industry etc. It's just an excuse created by so called environmentalist to show case as if bitcoin is the main culprit in polluting the environment. Video gaming industry is a big money maker for many corporates which is why no one will ever question that for sure.
September 08, 2022, 02:23:40 PM
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
The answer is quite simple. They don't like or even hate Bitcoin. Reason would be either they missed the price while it still consider affordable for everyone or just don't understand it.
Obviously, the comparison is not really appropriate considering the number of video gamers than the number of rigs mining Bitcoin.
Why don't we just all agree that everything that consumes energy is not really a waste of energy since it's either a necessity or for leisure (which I also find it necessary for our well being and mental state).
September 08, 2022, 02:10:18 PM
Friends, bitcoin mining consumes, of course, less than such sectors. Only certain money magnates use these types of arguments to hit bitcoin. Bitcoin is an active, technological and uncontrollable platform that makes money for many people.
September 08, 2022, 01:38:06 PM
Of course this makes sense considering how much graphic cards are used when playing games, you would understand that there are a lot of people using those cars for something other than mining at all times. I haven't played any games since last year to be fair, I did opened it up for a few hours here and there to see if I can, but I have so little money and had such a horrible life this past year that I literally miss the covid period, my life has been horrible for the past year.
But, I can 100% guarantee that, back when I had time, I played so many games that once my graphic cards literally got cooked, and I had to get a new one, it can be that much usage.
But, I can 100% guarantee that, back when I had time, I played so many games that once my graphic cards literally got cooked, and I had to get a new one, it can be that much usage.
September 08, 2022, 04:09:57 AM
So, Arcane research were the ones to conduct the research. So, I decided to take a look at their research paper, which is locked behind an account. Needless to say, I'm not going to make an account just to read their paper. However, from what I can gather from this regurgitated article, they've basically only estimated what could be true, rather than actually looking at figures, and data. Seriously, how did they manage to determine what people are using their energy bills for?
That data is usually private, and the energy companies to my knowledge only have access to how much electricity you're using, and not specifically what it has been used for. There can be estimates based on the usage, for example a spike in data could suggest a kettle was used etc, and there's definitely correlations that can bring you a educated guess, but you wouldn't be able to accurately predict these to have any degree of confidence.
If they've conducted a survey, they're usually grossly misrepresentative, and drawing conclusions from them isn't the best way to go about things, especially if you want to convince others that it's true, since it's based on guess work, and relying on the surveyors non bias answers, as well as accuracy.
That data is usually private, and the energy companies to my knowledge only have access to how much electricity you're using, and not specifically what it has been used for. There can be estimates based on the usage, for example a spike in data could suggest a kettle was used etc, and there's definitely correlations that can bring you a educated guess, but you wouldn't be able to accurately predict these to have any degree of confidence.
If they've conducted a survey, they're usually grossly misrepresentative, and drawing conclusions from them isn't the best way to go about things, especially if you want to convince others that it's true, since it's based on guess work, and relying on the surveyors non bias answers, as well as accuracy.
September 07, 2022, 10:43:12 PM
That's why from the start I never agreed that bitcoin mining can consume a lot of energy, when compared to other companies, even bitcoin mining has a much lighter energy consumption level.
The question is why other companies have never been debated?
This graph shows how bitcoin mining actually works.
So when there is a debate that says bitcoin issues like that, then we can make a graph as a strong data reference.
The question is why other companies have never been debated?
This graph shows how bitcoin mining actually works.
So when there is a debate that says bitcoin issues like that, then we can make a graph as a strong data reference.
September 07, 2022, 09:57:57 PM
Bad news about bitcoin will always be presented by the mass media. such as exaggerating about bitcoin mining which wastes electricity. those who are anti bitcoin and feel threatened by the presence of bitcoin will always make bad news about bitcoin. so that people who don't know bitcoin will also blame bitcoin. but sometimes the bad news they present backfires on them. because indirectly the name Bitcoin is becoming increasingly widespread and widely known in every corner of the mass media. so many people are curious about bitcoin and learn about it.
September 07, 2022, 09:35:12 PM
My question is; Why then do people talk about Bitcoin mining power consumption like it is the most and worst energy consumer?
Because bitcoin is a threat to governments and their allies the mass media propagate the message that governments are interested in.
Moreover, in the debate we should not only consider the total consumption, but also what the energy expenditure is for and whether it is worth it. The banking sector also consumes a lot of energy, for example, or city lighting, heating systems and so on.
No one questions the energy expenditure of the banking system or that people can be heated in winter. They are questioning what attacks the established power.
It might also be because for the amount of electricity bitcoin uses, not much people really use bitcoin as a medium of exchange in their lives and not much stores accept it which makes some the negative storylines from mainstream media have an argument. I am not telling everyone they are right or wrong, however, they have an argument.
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