Bitcoin Forum

Who owns the reliable information that the network bitcoin uses more than 80% of the countries separately electricity. Bitcoin also multiplied by several times the amount of energy consumed in the last year. Is this really true, who will say? So there are thoughts that bitcoin in a couple of years will be a threat to the energy situation on the planet?

We can estimate the energy consumption, based on the complexity of bitcoin. Complexity is the value calculated by the protocol and attached to each block. Complexity measures the average number of hashes left by the miner to search for one real block.

I think that to calculate how much the entire network uses bitcoin and compare with the amount of energy that a particular country uses can only be done with special skills in the field of electricity

yeah, bitcoin need a great amount of electricity!
but it will not become a threat because companies will develop more efficient miner and energy company will start to sell renewable energy to consumers!
that's why I think Bitcoin is not a threat!

80%? Where did you see that? Almost all of the Bitcoin mining is done in China, and there's no way it's even remotely close to 80%.

Big mines do use a lot of power though. That's why some of them set up shop next to hydroelectric power stations and such.

The statistics of the International Energy Agency do not use megawatts or gigawatts, but use MTEE (one million tons of oil equivalent). One TNE is 11.63 MW-h. The total energy consumption in the world in 2017 is estimated by them at 13,647 Mtoe or 158,714,610 GWh.

It depends on how you do it, you need to do everything with your head and study it. What they want to block, of course, is not correct.

Though bitcoin mining requires energy but I really don't think this expense can be so much like 80% of the total energy. It costs much electricity but that doesn't mean it will be such big amount.

In theory it's possible if it really took over the world in some form. 80% is probably pretty unrealistic though unless everything else became super low energy(which probably won't happen).

In the mean time the mamain airport of The Netherlands has installed the ATM for bitcoin. People are making transactions through bitcoin and ethereum for journey purposes. This have made their transactions very easier.

I think this process is somewhat complicated
And must be specialists in the field of electricity
And the field of bitcoin that they hold sessions to reach a solution to this problematic

Bitcoin electricity consumption is not easy to calculate. 80% of consumption of the whole country electrical power won't be true. Bitcoin generation consumes power but not to that extent.

basically if you need to use crypto currency then you need electricity for mining based on this it cost too high that’s why many people can’t do this bases on this many developers are thinking and working about it so the price of electricity may low .

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.

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.

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.

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 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.

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

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.

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.

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

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%.

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.

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

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 (https://digiconomist.net/bitcoin-energy-consumption)".

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.

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. :)

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

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 ...

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.

Bitcoin energy consumption is expected to equal the entire consumption of Japan in the near future. This is why cryptocurrencies must migrate away from PoW and why nations must shift to renewable energy. The shift to PoS is welcome.

If bitcoin operated for the whole country of course all transaction are usually made only using gadgets such as cellphone and computer but using electricity for the said gadget are not so volume of electricity than the factory using electricity so, these will not affect to our mother earth.     

One of the greatest questions ever. We consume too much energy for cryptocurrency. More and more people joining, buying miners or running pcs for staking.

I dont think we can measure the amount of energy that people have used and the fact that we are not making any significant improvements in green energy is also a sad fact.

Using bitcoin requires Electricity to work, but I do not think it's predictable how much power is used all depends on who's using it .. and all also depends on the tools used to get bitcoin, most tools require more electrical power and most likely will be a lot of bitcoin to be in can ..

I think it can not be so much as that, 80% is impossible

On the one hand, it's very bad that we use so much energy. But I think that, on the other hand, it pushes humanity towards the invention of new technologies for obtaining energy.

This is such a very difficult question for anyone who don’t use tool for mining. I think that only professional miners know this sort of information. Yep, I think it’s up to the tool that requires big or small amount of electricity . Often a miner,  who has a deep research on this field, will know what tool can help him to save more electricity. I think that to mine bitcoin, the miner probably  burn a huge amount of energy because in the beginning of this year, I’ve heard the news that our government starts to increase the price of using electricity with miner.

If you are in a sunny places like almost near to dessert you don't have to think too much on electricity since you can have solar power, but for country who solely rely on government electricity is a problem on your side as a miner specially when you only have few equipment to use.

you should read and look for information about the article Deetman that related to electric power consumption on the bitcoin network. I will explain a little bit about the consumption of electricity in bitcoin network, he took a reference from Christopel Malmo's article, and Malmo explained that 1 transaction in Bitcoin network requires the same electricity consumption as the daily consumption of 1.6 home in America.

Deetman has experience in electric development scenarios, electricity consumption is also dependent on hash, hash required for solving complex mathematical algorithm solutions, and according to Deetman, this mining process will consume 350 megawatts of electricity, and the amount is equivalent to 280,000 households in the America.

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

Well I don't actually know the energy consumption it takes but I know that mining bitcoin consumes much energy.

There are massive, massive mining farms(mostly in China) using huge amounts of electricity. Some are set up directly beside hydroelectric power stations even.

What rubbish !

One transaction costs a few CENTS only.

Kapyong

Gday aundroid :)


Wow !
Accurate and relevant facts clearly expressed.
Fantastic :) Wish there was more of it here.


Kapyong

I myself never think about it that how much electricity is needy by bitcoin, i am using it as  normal and i never even feel any extra electricity that bitcoin may be using. To me i am no doubt getting a good profit from bitcoin, therefore i will even continue using bitcoin it it require a some extra electricity. Because i even want to continue getting profit from bitcoin.

I don't think btc uses so much electricity. Aside from the gadgets and other devices use for transactions, it looks like it doesn't consume that much electricity. Besides, we only don't depend to the main source of electricity, since there are other renewable resources that is now used for electricity consumption. In my opinion, it's a bit difficult to compute the consumption because of the vast number of users and investors btc have right now.

At this moment its realy exoensive to mine bitcoin due to the cost of electricity and the profitablity is very low.

Using bitcoin really does need the use of electricity. This is just like e ordinary consumption that we are using with the medium in bitcoin. This may only differ depending on the user itself if he or she will choose to use it all day or all night. Therefore, there is no discrepancies in using bitcoin with other applications.

Bitcoin needs a lot of power so you can maintain it, it's pretty high

Even though how skilled the person is,still no one can calculate the usages of bitcoins electricity the whole world.and besides i believe that what you have said in the OP above wasnt the right volume of whats the true electricity needed,you should have drop some links on where did you get that idea


What maintaining youre talking about?you noob speaks when you really have idea abiut the topic but if not stop talking as if there's an understanding about issue

Most of the most large bitcoin miners will soon start using green energy for mining and the amount of energy consumed will not be a big problem.

Bitcoin needs a lot of electricity, it will remain strong, electricity is the main source of energy for it to sustain everything

Bitmain - the manufacturer of equipment for bitcoin mining, is located in Beijing and Shenzhen. This company produces about 70% of the bitcoin-miners in the world on the basis of Taiwanese microchips TSCM.
The latest model of the Bitmain-S9 miner uses 19 nm microchips. Their performance is 4 TX / s (14x10 ^ 12) with an energy consumption of 1372 watts.

I think not, 80% is a huge amount for electricity use in a country. And not all bitcoiner in all countries do mining, although there may be little and it is only small mining.
If the use of electricity by bitcoin miners compared to the amount of electricity used by large companies and the use of electricity by government buildings, I do not think it would be worth it. Bitcoin miners use only a small part and some even use alternative power so they can reduce their electricity bills but people always exaggerate, because bitcoin mining is a source of global damage.

The amount of electricity required for digging the bitcoin is really too big. The digging machines operate 24/24 continuously causing electricity consumption is huge. This is worrisome with global energy

I think it is a complicated question.most of work  done on computers & cellphone who are very small part of electricity consumed.but on mining projects consumed large scale. so it can not judge how much electricity required for.

Forget about the electricity - just think who has to pay for that. 

Everyday the entire community sends truckloads of cash to electricity providers.  Money going out of our network is a reduction in value.  In effect, Bitcoin network does nothing at all to increase its value, but spends shitloads of money on power.  Perceived value of bitcoin might rise, but bitcoin attracts no revenue at all.  So, with all the outgoing money and no incoming money, bitcoin is one of the most efficient loss making machines ever known to man.  Only when people catch on to this will it end.  And it will end horribly. 

You can't keep paying out - with nothing coming in.  That finally ends.  This is why Ethereum is going to proof of stake soon.  Bitcoin is fucked - completely fucked.  But fortunately bitcoin has a lot of very dumb people who keep sending in more money because they think they are going to get rich. 


Hahahahahahahahahaha!!!!  That is so damn funny. 

This negativity about bitcoin's energy use is unwarranted.  The banking and credit card system use much more electricity.  If you factor in the buildings, employees, printing machines, computers, etc it is a much higher total cost than the btc network.

Yep, it cannot be measured easily but if you have mining rig you can know the cost of mining bitcoin by just looking at your electric bill. The cost is getting higher and this is why some ICO’s are focus on the renewable energy and hope they can succeed that project.

Actually this topics ,we could not identify the exact electricity network bitcoin needs totally using in electricity,maybe this 80% that you stated is only speculation and we could not find the exact amount of electricity that bitcoin mining consumed,because its all depends of the country where should its belong,because every country have a different  meters readings of electricity consumable amount.

Electricity may become a big problem of the world in the future but I stil believe we have enough resources to sustain our level of electricity. The cost is quiet lower for bitcoin compare to the usage of bigger buildings, but if the cost continues to increase for sure we, the investors will be the one to shoulder that cost so bitcoin can stay alive.

I also do not really know about the news yet, but if we think bitcoin miners always need a lot of electrical energy.
an example, if you have a bitcoin miner tool each of these tools one tool requires 30% energy if you have 2 tools then you will spend 60% every day and that in my opinion will continue to affect the amount of energy in the world this.

According to Forbes in January 2018 : If you run an Antminer 24/7 for a year it will produce about 0.85 bitcoins, at a cost of about 15,000 kilowatt hours. Depending on your power prices it will cost anywhere from $600 (at 3 cents per Kwh) to $1,800 (at 9 cents per Kwh) to mine one coin. Even with bitcoin having plunged to $11,600 this morning, there’s still money to be made, assuming you can get your machines cheap enough.

How true this is idk, I've never mined Bitcoin

What an extraordinary thread, we even have one guy computing mining power requirements based on 8 graphics cards. :)

I believe that as Bitcoin becomes more mainstream, the single function miner will become a thing of the past, and mining processors will be added to a variety products to utilise spare electrical capacity, Room heaters, and hydro-carbon transport are two examples. I started a thread about this in the ivory tower a short while ago ( before I saw this thread ).

yes, in every country must have different power requirements, and bitcoin should not be an excuse to affect the power of electricity in this world, and besides bitcoin there are still many others who need more electrical power, and I'm sure everyone will think that with the bitcoin of course people will be able to think to be able to make its own electric power, because people out there will think about their mining so it will not be too big electricity to use.

Yes, bitcoin mining activity is one that consumes a lot of electricity. But I think, electricity is not a thing that can run out like petroleum, so I think it will be safe.

You know, Where there is problem, there is solution. If today that is a problem then tomorrow it will might be solved. Yes I know that Bitcoin needs more energy, so renewable energy sources are there to solve this.

Actually, the amount of energy required to mine bitcoin varies from process to process. the higher the power of the antminer, GPUs and the faster the Internet connection, the cheaper relatively the cost of mining bitcoins. During the earlier days of the bitcoin, the mining was faster and cheaper,, now that's not the case.

An informative article on the power consumption of BTC.

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that (https://www.cnbc.com/2018/02/23/bitcoin-blockchain-consumes-a-lot-of-energy-engineers-changing-that.html)

i dont know that either how much electricty does bitcoin need if you want a PC miner you need 1 PC and video card it depends in video card that can mind bitcoin if you have more video card the bitcoin you have will increase and increase more the electricity you have use it to small it cannot affect in your work or in your house it has a website if you want to compute your own bill using the PC miner that you have and bitcoin salaries that you have earn everyday.

Actually if you are a bitcoin holder you don't need to spend much electricity. If you will just work wisely in this system you will figure out that in order to be successful in bitcoin spending so much is not needed. We can make use of electricity in bitcoin efficiently. It only needs small amount of electricity that is enough to run bitcoin.

We only need small amount of electricity to run bitcoin effectively. Bitcoin doesn't require us to spend huge amount of electricity. In order to run bitcoin all we need is just enough electricity. Good thing is that we can be successful in bitcoin by just spending small amount of electricity. It's very cheap yet efficient and effective.

You need electricity costs about US $ 4,329 or Rp59.3 million (exchange rate Rp13.700 per US dollar) to mine a bitcoin in Indonesia.

Yes, Bitcoin need huge amount of electricity. But i think, It will not become threat for companies because it's achieve more benefit from the power loss.

Don't wanted to say but to be fair energy is really wasted in bitcoin mining. For example if you know georgia, it's third country after china and usa in bitcoin mining, this country is very small and people here are in number less than Croatia. And such a small country is almost third in mining (if not third, it's in top list but I read somewhere it's third). So imagine, people like easy/free money here + add Bitfury to this which gets electricity in very cheap price and they are in tax free zone. For this reason people have to pay higher in electricity compared to last years.

Bitcoin doesn't need huge amounts of electricity. Increase in electricity consumption is a result of increase in mining difficulty, and the increase in mining difficulty is the result of miners competing more and more with each other, making blocks being found faster, and the algorithm automatically increases the difficulty to adjust the block time back to 10 minutes, making the network spend more electricity on it. If half of the miners* lose interest in Bitcoin tomorrow, in less than 2016 blocks generating Bitcoin will consume half of the energy required now. And it will not affect anything else: block time will still be ~10 minutes, its size will still be 1 MB max, transactions will be handled just the same. Electricity consumption is directly correlated to how valuable mining it perceived by people.

* miners owning half of the current hash power

It is estimated that mining of bitcoin has consumed energy that is more than what the entire country of Singapore consumes from January 2018 to April.
If it continues like this, we might as well start looking for an alternative source of energy.

 Bitcoin as a matter of fact depends more on mining and in that case it needs more power which we all know has to do with electricity not only that, it needs constant and steady operation which results to a very high power consumption. No doubt, it is very functional and running for years now as a result of its steady electricity supply so therefore, i would rate and say a 100% electricity power supply needed to run Bitcoin.

A side from reading english or understand english you should have electricity too. Because how can you use your pc or charge your cp if you dont have.

According to Power Compare, bitcoin consumption is still not comparable to a few individual countries, such as South Africa, Egypt and Algeria. So far, Bitcoin's estimated annual consumption is about 29.05 TWh - equivalent to 0.13% of the world's electricity demand. That is a concern.

The power scarcity discussion is a funny one to me. Humankind will do anything to survive, if we look at how many countries have not utilized nuclear energy and let's only consider the allegedly cleanest nuclear energy (Thorium based nuclear energy), then the energy cap might be way bigger than we can imagine right now. Just keep in mind that profitability is higher, when something is scarcer.

It's overestimated the amount of electricity that bitcoin need. And even Bitcoin needs a large amount of electricity to work but it is still not harm our environment

It's really hard to calculate the amount of electricity that bitcoin needs But I believe that is not a small amount of energy

I guess this article will help you to get a real picture. if you google a little and spend an hour to read, you won't need to ask others
https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/

I see it is not a problem. You know that it helps maintain the bitcoin system and it could not be called waste, on the other hand you want to exploit any resource such as gold, silver, diamonds and even coal you also need some amount of power not small

when we talk about bitcoin it is very broad, but when you say that it is a mining then where did you get a 80% of the electricity consumption is done by the bitcoin industry, when the popularity of bitcoin has not yet reach 80% of the world.

Whos crazy idea that given you this 80% of electricity has been consumed by bitcoin?and what about you noob that believing this crap?suck dude even the biggest malls in the whole country cant consume this huge amount of electricity.better stop smoking weeds buddy because this bringing you down.small volume of people are mining for bitcoin in every states so dont be exaggerated

According to Bevand's own calculations, we should expect bitcoin to use 0.2 to 0.3 percent of global electricity by the end of 2018, about half of what is predicted by de Vries.

There was a news that I heard that in the coming decade, bitcoin is going to use doubtthe amount of electricity, used by the entire world currently and I think this is totally useless because this is not even possible and I find this news to be completely hypothetical because the only requirement for operating bitcoin is the internet and I don’t think that internet is using that much of energy as more than required by the entire world so I find this news very irrelevant.

Not just depending on the main source of electricity may be a bit difficult to calculate the consumption required a lot of the number of users and investors bitcoin owned today. 8)

I think this number changes according to the degree of difficulty. And it's not so easy to calculate it all. I think in future technological developments, devices that consume less electricity will come.

Many accuse bitcoins for the use of electricity as if for everything else there were no huge waste, without consistency. Renewable energy and go!!!

I have heard that it requires really much electricity and that's why it is not very cost-effective method of gaining coins today, i hope that in the future something will change and its price will  change as well

I would be happy if the popularity of people using bitcoin reach 80% then i know what to say.we area we barely use use light up to 4-5hours daily.

Many countries have been screaming at the fact that miners have used too much electricity to exploit the BTC, so I think that's a very wasteful thing and so we should prohibit this more to save. electricity for the country

the electricity network consumption for bitcoin is still not as big as the proportion of other mega electronics business network sources, you are too skeptical in this regard. But positively what this business consumes is a message to the world that there should be an effort to create renewable resources, so it's not just about consumption, but how we can make an active solution.

If you do mining that really consumes a lot of electricity,  no wonder the amount electricity consume might be doubled or tripled, depends on how many individual involved bitcoin.

In my opinion, the amount of electricity needed in this bitcoin business is different in many business sectors. For bitcoin mining does require a large enough electricity and indeed this will be a threat to energy availability. But if only for bitcoin investment then the energy needed is just as limited as a regular internet browser. Maybe that's my little thought about the electrical energy needed.

this is an easy problem, Because electricity can be made without requiring fuel from earth m,
because with sunlight and wind both can be utilized to generate electricity and energy sunlight and wind is environmentally friendly and does not harm the planet earth

Global Problem of Cryptocurrency Mining
High Demand for their Electricity No matter how much electricity is being consumed by mining efforts, electricity usage is still increasing
since miners must invest even more kilowatt-hours to receive the same (or even lower) returns.
Simultaneously, the volatile nature of the cryptocurrency economy has seen Bitcoin along with every
other cryptocurrency rise to new record highs.

1
https://coinmarketcap.com/coins/
6
Even though Bitcoin block rewards were halved in 2016, electricity consumption has continued growing
exponentially from about 11.5 terawatt-hours in May 2017 to 65 terawatt-hours in May 2018. The Bitcoin
network is currently processing upward of 300,000 daily transactions, with electricity consumption per
single transaction being equal to nearly 850 kilowatt-hours. Considering the next block halving will occur
in 2020, Bitcoin mining is unlikely to become more sustainable for the foreseeable future.

Bitcoin is to function by burning electricity.  It's mining; trading both require electricity.  It is surely spreading pollution.  But it  does not mean that we should stop using crypto.
We have to find other solutions to control pollution.  Systems computers hardwares are being developed which are using less energy.  We have to find more energy efficient hardware.
Another solution to the issue is that we should find and start using alternate renewable sources like solar; wind; hydro etc.  When we will switch to renewable we will get the solution.

Not really. I think bitcoin mining electricity cost doesn't spend that much. Now we have many ASIC miners for bitcoin. ASIC is more effective than GPU.
The energy consumption relative small if you compare with the very high hash rate in ASIC. So, i think the energy of the earth will be okay.

Bitcoin require a lot of energy is o function very well. There are some who claim that mining Bitcoin require a lot of energy to the point that if you don't have the necessary equipment and financial stability, you can't venture into mining if BTC. It require good energy to function properly

if I need electricity only through phone calls, I work in bitcoin using a telephone tool and also I also use mining tools to help the business work on bitcoin.

When I started investing in bitcoin machines, and the monthly electricity bill for the power company was $ 5000, that time, even I did not have a word for this job. But I keep my own nearly 100 bitcoin, I have sold almost all the bitcoins I own at that time to repay the bank. But by the end of 2017, I was lucky enough to sell my remaining bitcoin.

bitcoin if it consumes enough electricity but to say that 80% of the amount of a country is a lie is not really a threat since there are renewable energy horita and in the future there will be more types of energy as the solar can be adapted to the mining machines and then it would be used massively and that can affect the entire planet is false and the next few missing for clear mining is difficult and will last for years to be mined the last block of the bitcoin chain but consume the banks in the ATMs and on servers that the entire chain of blocks

It's fun to say that the Bitcoin system consumes electrical power. The blockchain is a decentralized ecosystem that is made up of networked devices. If you are a computer user, you are contributing to Blockchain. The development of this new planet causes everything to destroy.

Bitcoin consumes a lot of energy, I think, but I learned that bitcoin consumes more energy than the whole of Singapore consumes from January 2018 to April.

now due to the high electricity consumption that is why eloncity is being introduced to reduced the high power usage. secondly bitcoin can't be a threat the nation moreover many power plant has been planted and they load will be disbursed.

   It`s a shame that your comment isn`t more noticed. Who and what doesn`t need energy? I can
say we all do, and I wouldn`t be much wrong about that.
   Good news is that world is working on new and renewable energy. There is a lot of need for energy
and world is working on that hard, I think in future we will have many new sources of energy.
   Bitcoin probably needs a lot of energy, but it`s new technology and new sources of energy will
cover that. Same thing world is talking about the cars and usage of gasoline, they talk for decades
that we will spent all fuel by the 2020, that didn`t stop anyone to make more cars, bigger cars. World
is still spinning and will continue to spin, with new sources of energy.

I read sometime ago that the energy consumed by bitcoin mining in recent times is more than that consumed by the entire country of Singapore.
So yes. Bitcoin mining consumes a lot of power.

There may be some sunny places like almost close to dessert. You also don't need to think about electricity because you can have solar power, every country that only depends on government electricity, that is the reason on your side as a miner, especially when you still have some equipment to use. 8)

As much as i would have loved calculating it? i cant calculate it cause i think it is best calculated by minners or electrical organization in my country. and i dont think to calculate bitcoin electricity is easy to calculate .

Yes, Bitcoin mining is quite energy inefficient and if people outside crypto know anything about Bitcoin is that it uses a lot of power which is why some people are put off.

If you are not into mining of cryptocurrency especially bitcoin then there is no electricity you need to get a bitcoin because you can just use your device like laptop or cellphone to work into different places like this forum by joining bounty campaigns and get a reward in form of token or coin and that is enough for you to expect bitcoin at the end.

If is obvious that bitcoin must need a great amount of electricity but how much the exactly amount is not published yet as far i know.

There's no doubt that the Bitcoin excavation will require more electricity in the future, possibly more than some small countries consume all year round, but what we need to know is that the electricity is usually idle in remote areas, and that doesn't pose a threat to the planet's energy situation.

I don't understand your question. What do you mean by 80% of the country separate electricity? It's really energy consuming, that is true, but nowehere near reaching 80% of any country's consumption.

This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day).

That's what i also have in my mind asking about the total energy a mining rig requires to mine bitcoin. It may cost high but i think the digital gold that you will mine is more than your electricity bill for the whole month, IMO.

Bitcoin is a network that consumes a lot of energy over every single transaction. Keeping in mind its complexity and structure and mining process for blocks it could be harder to guess how much exact amount of electricity it might be using but for sure its using a greater share.

Its hard to make precise calculation because every country have different electricity tariff. Miner in china have different cost with miner from europe because electricity in china cheaper. But i dont believe bitcoin network use more than 80% of the country separately electricity

If we do mining then it really requires more electricity because most miners consume lot if electricity but we the bounty hunters consume less electricity because we only spend a little time to do our task.

I read somewhere where it was stated that bitcoin minning consumed in the last couple of years electricity that is more than the consumption of tge entire country of Singapore.
So yes, bitcoin consumes massive electricity

Not only depends on the main source of electricity, it might be difficult to calculate the consumption that is needed by a large number of users and bitcoin investors currently owned.

even though it takes a lot of electricity, but now the miner is getting smarter
they do not rely on electricity from the government alone, but they can also make electricity themselves, for example from water, wind, steam and so on
of course this matter actually encourages someone to be more creative and life-saving

in fact, very much. But nothing stands still and many companies are inventing less expensive ways of storing or extracting bitcoin ;)

Yes, bitcoin need so much electricity because bitcoin especially in mining its requires energy but i don't know how much energy that need bitcoin its up to your doing in mining/ how big the minor is. But that's very complicated to calculate and it consumes a great amount of electricity.

Recently I heard that Gold mining is needed 25x more power than Bitcoin Mining. Most of the people are saying Bitcoin is consuming alot power for no underlying asset. But no body understands the potential of Bitcoin Scarcity and other unique features like universal currency and not controlled by any one or one single entity.

Actually bitcoin needs only a few electricity because you only do is post. In signature campaign you just consume a minute to post but you need to do it every 30 minutes.