Bitcoin consumes energy, but it's really not a waste. If someone considers it to be a waste, they either don't understand Bitcoin or they have a different agenda in mind. BTC ensures an ecosystem that is free and decentralized, a kind of currency humanity never had before. Therefore, it's not a waste but nor is it a storage of energy. Can't call "storage" something that isn't able to give back energy, if it makes sense. BTC is just a free currency that uses energy to function.
people who say bitcoin is a waste of energy they don't actually know the real benefits of bitcoin. because the concept of people using energy to mine bitcoins is purely for profit. so it's actually purely business. and business can be referred to as productive, not consumptive. So I'm quite surprised if anyone says bitcoin destroys energy and wastes energy is wrong. 
Topic: Why Bitcoin mining isn’t a waste of energy? - page 2. (Read 1068 times)
I think the big problem right now is that mining is expensive. In addition, the price of mining components has also increased significantly.
But a lot of people are enough able to buy mining instruments but they can start mining for restriction, If example i can not start in my country due to government restrictions. Where people can earn money by mining how it's a waste of electricity. How much electricity we are wasting unnecessarily in everyday just by using electronics gadgets. 
If using electricity, paper pulp, cotton and dye to print banknotes is not a waste of energy and resources, then mining Bitcoins is also not a waste of energy. You are getting an output in this case, which is indestructible. On the other hand, you are spending so much of your resources in printing banknotes and minting metal coins, which are having a limited shelf-life. So which one is a better example of wasting energy? The Bitcoin energy consumption is just an excuse put forward by fiat supporters to tarnish the reputation of BTC. There is hardly any relevance with such arguments.
What in my opinion about "a waste of energy" is when we are using the energy for something that is nonsense, for something with no benefits, and it only wastes energy for none.
But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
How can you proof Bitcoin is no nonsense? We are all in our crypto bubble ask people outside about using bitcoin.But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
I would like that crypto (not Bitcoin for several reasons) gets more common. But think about having put the energy of a whole big country in nothing more then creating less then 5 MB of software code every 10 minutes. And its nothing more then that. We think its more but who can proof? Fiat system is run with changes for 150 years. Maybe its bad but its working system all over the wourld. You can take your VISA Card from germany and pay your beer in japan.
And when ask why I am here: never said its a bad speculative asset ;-)
Bitcoin Mining isn’t a waste of energy because it supports the network. As it can secure transactions, fulfil contracts, and protect from counterfeit, Bitcoin has value as a currency that is created and backed up by energy.
People waste a lot of time in doing unnecessary things that are not valuable, but it has value to them. Bitcoin mining is very important and will never be a waste of time, because it has a very huge value of Fiat, and has a huge success in the entire future. In respect to waste of electricity,bills are paid so even if it waste electricity, and it has value that paid for it, I think there is no any problem, though we do investment to gain profit.
because we can't find a trusted site, and generally mining website will not give you payout
What in my opinion about "a waste of energy" is when we are using the energy for something that is nonsense, for something with no benefits, and it only wastes energy for none.
But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
maybe that's true, but in terms of taxing energy use of course other industries get more importance than bitcoin mining.But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
Bitcoin mining is done by more people or companies of course it will consume more energy. while regulations related to crypto mining may not be considered in some countries.
I don't think its a waste because you will earn from mining and eventually it will circulate as you use it to buy goods/ pay bills. There is no difference from playing games and mining, it depends on who will perceive those two. Both are beneficial for those who can afford/ do it.
Though this kind of cycle will be the one could destroy the environment. I think it was double meaning for me since it is waste of energy (your effort) and also waste of energy that is tangible like electric . When we are talking to the first one then it isnt really waste of energy since you could earn from it your are right but in the 2nd meaning is about the energy in earth, i think it is a waste if it is not renewable since most of the energy right now is powered by coal mean could lead to more carbon cosumption but when we convert to renewable energy then it is another topic
When the ship was invented, it burned with black smoke and burned the coal that a family needed for a whole year in one day, which was a waste of energy.
The randomness of pow comes from the entropy of the time atom, so the right to receive rewards is actually in the hands of God. He likes Bitcoin very much.
you must not make multiple posts at the same thread , you can compile your post in single delivery to prevent spamming a discussion .What in my opinion about "a waste of energy" is when we are using the energy for something that is nonsense, for something with no benefits, and it only wastes energy for none.
But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
This is just come into senses because Those who pointing that Mining bitcoin is a waste of time because they dont understand or wanted to know what is bitcoin and what is the benefits to the people.But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
if they can only see the advantage of this? then they may not create words against this.
The randomness of pow comes from the entropy of the time atom, so the right to receive rewards is actually in the hands of God. He likes Bitcoin very much.
When the ship was invented, it burned with black smoke and burned the coal that a family needed for a whole year in one day, which was a waste of energy.
What in my opinion about "a waste of energy" is when we are using the energy for something that is nonsense, for something with no benefits, and it only wastes energy for none.
But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
But here, we use energy to mine Bitcoin. How much will depend on how we mine.
But so far, why people are always concerned about Bitcoin only?
Whereas there are so many other industries that are using energy more and more than Bitcoin?
Bitcoin mining requires energy. Impossible to mine bitcoin without electric power.As a result of many machines and tools this bitcoin mining work is done. Adequate current is required for mining Adequate mining in some countries resulted in a shortage of electricity in those countries.Must do bitcoin mining Energy is needed.
This is real case now many countries feeling bad about this as it's consuming some good energy Just because of this many countries facing serious troubles and on other side the biggest costs in mining comes from electricity. The energy consumed by Bitcoin mining is necessary. It can turn energy into capital gains and at the same time make assets more secure.If we were able to pull the non-renewable energy source in mining, it will be really great because the non-renewable energy source won't be affected as much as others are creating problems right now, hopefully this will help this community.
When Bitcoin mining is started huge energy is used it is true . When miner mining gold , oil , Gass or any king of natural resources from that time they use energy and that cost included those product price value .that time no one says waste of energy but when time to mining Bitcoin in this time some critic says BTC mining waste of energy this is not true actually . People should think it's a costing of yield
Bitcoin mining requires energy. Impossible to mine bitcoin without electric power.As a result of many machines and tools this bitcoin mining work is done. Adequate current is required for mining Adequate mining in some countries resulted in a shortage of electricity in those countries.Must do bitcoin mining Energy is needed.
When fossil fuels were being used, it was really a huge waste of energy to mine Bitcoin. Elon Musk also indicated this big problem to the environment and he was right about it also. But for some time, I see that renewable energy sources are being used for Bitcoin mining mostly. And this means that we don't need to call it as "waste of energy" anymore. It is getting better considering the environment.
In the end, the energy of nature is stored in the form of Bitcoin, that is, the value is stored. Bitcoin mining is not free, it has cost, it needs to consume physical mining machines, it needs to consume energy. The energy consumption process is the process of energy transmission, being converted into stored Bitcoin, which happens to be the value support of Bitcoin. Based on this, no other cryptocurrency can replace Bitcoin.
What do you think?
What do you think?
Those are interesting points that you raised. I always have this notion that mining costs too much energy and power due to the amount of electricity needed to power and charge those CPUs for computing. That is why, most miners placed their equipment strategically in a place where air and breeze are continuous in order to prevent releasing too much heat.
Though the process of mining (like you explained) costs energy, the output of such is valuable than what it is compared before. Miners will always be relevant as long as there are cryptocurrencies to transact with. Without these miners, no one would be able to send one BTC to another wallet.
I don't think its a waste because you will earn from mining and eventually it will circulate as you use it to buy goods/ pay bills. There is no difference from playing games and mining, it depends on who will perceive those two. Both are beneficial for those who can afford/ do it.
mining bitcoin does require a lot of electrical power, but every mining that is done is not in vain, meaning that the electricity that runs out is not in vain, so it's natural, but if electricity is wasted it becomes a problem, like playing games that don't produce nothing.. just waste energy and consume electricity only..
Jump to: