Bitcoin Forum

https://motherboard.vice.com/en_us/article/7xmvbq/bitcoin-energy-science-world-electricity-demand

Now Motherboard is not the best source for news, but let's consider the implications of this...

Consuming immense amounts of energy is actually somewhat counterproductive if we consider the vision of Bitcoin giving us tools for independence. And it's somewhat unethical because we should not be using more than we need on this earth.

However, we don't really know how much energy it is consuming at this stage, so this could just be another reporter trying to find a story.

Actually we can not measure how much energy bitcoin is using but we can conclude it does take more energy because of its main function.It is digital.Transaction is electronic.You need to exert effort, knowledge amd time.

If we do not use the energy to mine bitcoin we still use it for another thing to make more money though, and as long it's profitable no matter how much energy it uses there will be no problem at all right?

You (and most of the people) are focusing on the wrong thing.Energy consumption is not the main issue.The main issue is that most of the energy is produced by burning coal and gas.If the wind and solar energy becomes cheaper,it could ba used for cryptocurrency mining.By the way,this topic has been discussed so many times on the forum.

The banking system also uses too much energy. More than bitcoin. Bitcoin mining costs $0.79 billion, banking system electricity use costs $63,8 billion.

Which one do you prefer?

Yes, i agree bitcoin is using too much of energy, one of my friend had a big problem about paying bills, because it is expensive. He uses too much electricity.

so what are you wanted to say stop using electronics while using any digital currency (bitcoin and other currencies) look at the bright side it has ease to wire money to someone i dont think you can calculate the energy you will use you were just only thinking the bad side yes it has a lot of disadvantages and negativity but bitcoin or any digital currencies has meaning to be exist.

Your friend mine bitcoins? if yes that bill must be covered by the profit generated from that mining. if your friend not making any profit that means you mine the wrong cryptocurrency, just saying out there like a ton of cryptocurrency you can mine and probably gonna make more profit than mine bitcoin.

I think its not consuming too much energy, the news is really exaggerated by some people, we can used another source of energy to mine Bitcoin, the banker, the car and factories are using more energy but people never realized that, I think some people want to make Bitcoin look bad

It has made it clear and understanding, Bitcoin is a king of all crypto industry in the land of digital currency, wish many people are enjoying and technology has made it easier for us to understand the functionality of cashless movement, which has a source of energy industry to save the world.

this discussion is completely off topic because it has nothing to do with how much energy bitcoin is consuming and whether it is too much or nothing at all.
if you or your friend can not make profit mining bitcoin it means YOU are making a mistake not bitcoin. it is like YOU trying to mine Gold and failing to make ends meet and then talk about how Gold mining is using too much power!

Yes of course for mining Bitcoin uses a lot of energy but not for transactions. For transactions Bitcoin uses a little amount of energy. and mine Bitcoins in such a area where the cost of electricity is lower than others so that you can make some profit otherwise the electricity bill will be more than your profit.

Yes bitcoin consume too much energy in mining, a lot of mining people are spending a lot of energy in mining. And it is not just for 10 years or more, it is continusly using too much energy as long as bitcoi is minable. Some miner are looking for alternative energy source to less wasting energy day by day.

it's for me to know that bitcoin mining is very energy consuming. but it's worth it though no bitcoin also requires energy to earn bitcoin

There are actually multiple possible reasons:
1. He's mining using the wrong device. Some people wants to try bitcoin mining and start using their PC or their laptop right off the bat without computing how much money they will be making from it and would it be more than what they are paying for the electricity bills, internet bills, and if it's really worth over-stressing your computer. Your computer should be made specifically for mining and not just a regular computer in order for it to be economical unless the electricity is cheap in your country.
2. Electricity is NOT cheap in your place. Honestly these days is electricity even cheap anywhere? Almost everywhere it's expensive and if you are dead serious with mining and it's okay for you to move to a foreign country (where electricity is cheap) to mine bitcoins, then go ahead. It's possible that you have a good setup for a mining rig but still lose money because the electricity is just so expensive.
3. Bitcoin's price went down when he was just about to pay for the bills. Self-explanatory.
4. You don't have a decent enough mining rig. The truth about mining is that people can't just mine and then be able to earn some bitcoins. I mean, we can do that. But it will not be practical since you will be earning less than the money you're spending. With the rise of more people mining bitcoins, it will require more and more computing power to have more earnings than your expenses.

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I suggest that you guys check out this article from Forbes regarding the energy consumption of bitcoin mining: https://www.forbes.com/sites/christopherhelman/2018/01/16/bitcoin-mining-uses-as-much-power-as-ireland-and-why-thats-not-a-problem/#35ff15824589

Too much energy is subjective but banks use 3 times more energy than Bitcoin (source: a recent study) A fact is a fact. What about the shops having the light turned ON during the night? Talking about the waste of energy, Bitcoin is quite far to be a culprit. Even some cities realized this and turn the light OFF in the streets starting from 11.59 pm

of course, bitcoin spends a lot of energy, especially electricity, the harder the block will be solved, the more expensive electricity costs. but ASIC chips can save electricity.

I think using solar power, or with hydro mining can save energy.

In my opinion, it does not really cost too much, if we spend too much we can not exploit it now. We accept that in exchange for the benefits that bitcoin brings as paying bills.

 :) I understand people who oppose Bitcoin always relate to energy issue as  the number one reason to create NEGATIVE IMAGE about BITCOIN. As they think this is the best option available.

If you are so much concerned about energy, please try and find out..How much energy banks are consuming? by yourself.
I am sure, if you are able to find this out you will never associate energy consumption with Bitcoin.

Bitcoin is far bigger than such small issue, try something new to create  NEGATIVITY againts BITCOIN  ;D

Bitcoin and altcoin are using too much electricity and internet resources to protect the system and confirm the transaction! For development and widespread use, this will have to change

Let's break that myth down and ask yourself where would that electricity be used and for what? How many lights are burning

in buildings 24/7 that has no significant impact? {Motion sensors would make it much more economical} People are wasting

a lot of electricity and it adds ZERO economical value. Bitcoin use electricity economical to run a financial network that adds

value to the world.  8) {A lot of that electricity are generated by hydro/solar/wind/thermal, because a lot of the larger mining

farms are located near these plants. ...}  ;)

If we compare Bitcoin mining with factories it is certainly bigger for factories to consume Energy, but why is this news really exaggerated by some people, what is it because the factory gives big taxes to the country? I think some people want to make Bitcoin look bad.

Kindly read the article below:

https://phys.org/news/2018-08-energy-bitcoin.html


Author of the article is Katrina Kelly-Pitou: https://www.linkedin.com/in/katrina-m-kelly-pitou-a8565826/

So it looks like she debunked the myth that Bitcoin consumes so much energy and its somewhat counter productive.

So what the next argument for bitcoin? Greenpeace coming over and claiming Bitcoin is slowly killing the Whales  ;D

As my opinion the bitcoin can not use so much energy, but the miner use it to exploit bitcoin or the other altcoin.
i think there are so much thing use more energy than mining bitcoin, hehe.

I think this is a new industry and people should take advantage of the natural resources to exploit and get rich. Then as technology becomes better, they will find another way to optimize people's lives.
This is a good opportunity for miners. Natural resources will be overcome in the future if we contribute to the education of technology.

Bitcoin and most other cryptocurrencies are founded on the notion of an immutable ledger, called the blockchain, which comprises transfers of value from one party to another. Cryptocurrency “miners” seek results to a kind of algorithmic puzzle that fits a very specific set of requirements. Every ten minutes on average, a server finds an acceptable solution, and the miner gets a reward from the bitcoin system

we can not measure how much energy bitcoin, if you have high-end system then it will not consume more energy.

I do not believe that presently that bitcoin mining is consuming much energy because the level of usage of bitcoin is still low worldwide and besides there are other cheaper way to source for energy when we look towards renewal energy source. The solar and wind will be of advantage to bitcoin miners.

I think its not expending excessively vitality, the news is extremely overstated by a few people, we can utilized another wellspring of vitality to mine Bitcoin, the investor, the auto and manufacturing plants are utilizing more vitality however individuals never understood that, I think a few people need to influence Bitcoin to look awful

In my opinion  that bitcoin mining is very energy consuming and bitcoin consume too much energy in mining, a lot of mining people are spending a lot of energy in mining.

That's why new crypto and blockchains coming. Because of all understands that BTC takes too much energy. In the nearest future will be very cheaps blockchains.

A lot of vitality is emotional yet banks utilize 3 times more vitality than Bitcoin (source: an ongoing report) A reality is a reality. Shouldn't something be said about the shops having the light turned ON amid the night? Discussing the misuse of vitality, Bitcoin is very far to be a guilty party. Indeed, even a few urban areas understood this and kill the light in the avenues beginning from 11.59 pm

This problem can be solved by using alternative methods of extracting electricity or using space on the ground with excess electricity, as in the Russian Siberia.

Proof of work will be phased out in the future

Yes, bitcoin and the project within that bring "Green Energy" i think that's all are just like a lifecycle with no end. just look at some case. People build hardware and use electricity that im sure it's cost is not small.

And then, we see some ICO or project that similiar like that, which is they said "if you buy their coin/token" it also help for green energy. How it will create green energy meanwhile, there's a way to get those coin/token is from eating up the electricity

I think it's a temporary problem. More efficient miners using less energy and more efficient ways of extracting energy are being actively introduced.

Im not sure we need to consider the amounts of energy bitcoin mining is consuming.
I have read other peoples posts about this and its something the media like to focus on
but if we consider bitcoins rival, FIAT currencies all over the world and the energy
used to mint coins and print notes, then transport them all over the world! Thats not
talked about, and if we compare both they are probably on a par.

This idea was posted by another member it it got me thinking about this thing about
energy consumption.

Yes very much and it's bad.Now it is necessary to solve this problem,who can do it will be able to get rich fabulously . Otherwise, mining farms will not be able to exist as they will bring losses and this is a fact .

Therefore Bitcoin is expensive, because it takes a lot of costs. Experts say that the creation of a new Bitoin is about 6K.

Bitcoin energy consumption is growing very fast - in July it was still approx. 14.5 TWh, in August it was over 16 TWh. What does this mean in practice?

    - one transaction on bitcoin absorbs 185 KWh - kilowatt hours;
    - 185 kWh would be enough to supply 6.5 households in the US for one day;
    - the entire bitcoin market could supply 1 million 483,000 homes;
    - bitcoin is responsible for 0.08 percent. global consumption of electricity.

BITCOIN has been alarming people for years because of the amount of electricity needed to mint new virtual coinage. Alex de Vries, a bitcoin specialist at PwC, estimates that the current global power consumption for the servers that run bitcoin’s software is a minimum of 2.55 gigawatts (GW), which amounts to energy consumption of 22 terawatt-hours (TWh) per year—almost the same as Ireland. Google, by comparison, used 5.7 TWh worldwide in 2015.

No, not at all. Bitcoin is not particularly popular with the whole world. Very few people use electricity for the purpose of mining. There are spheres that spend much more electricity than miners do in the process of creating bitcoins. So in my opinion this problem is not at all essential and does not affect anything

Not only bitcoin if you mine any coins energy will be used heavily. It will be consume 10 times electricity you used for AC. Hence please be careful while you are investing on mining side about learning electricity issues on it.

If you do not have option to give the electricity then you need to go with the other options than that.

Bitcoin uses too much energy for sending transactions. New blockchains trying to resolve that problem, some projects like Ziliqa, EOS, Tron and etc. They try to make more transactions per second, reducing energy cost.

   I think if you don't want to earn in bitcoin because of energy consumption then much better to stop and stay away from bitcoin. Just think,Bitcoin is a digital currency how can you use it without using energy? We have nothing to do but to accept the fact that despite of higher energy consumption of bitcoin we still need bitcoin to earn because bitcoin is already tested as the valuable investment online.

BITCOIN has been alarming people for years because of the amount of electricity needed to mint new virtual coinage. Alex de Vries, a bitcoin specialist at PwC, estimates that the current global power consumption for the servers that run bitcoin’s software is a minimum of 2.55 gigawatts (GW), which amounts to energy consumption of 22 terawatt-hours (TWh) per year—almost the same as Ireland. Google, by comparison, used 5.7 TWh worldwide in 2015. What’s more, bitcoin “miners” consume about five times more power than they did last year, and orders of magnitude more than just a few years ago—and there are no signs of a slowdown.
Why does bitcoin require so much energy to make something that exists only electronically?
if bitcoin could consume such amount of electrical power energy, how much more about the the local banking system.
this is just giving me much thought

Bitcoin works according to the PoW (proof-of-work) algorithm, to increase the number of miners, it is necessary to spend more and more power to obtain new blocks. So in the future, the maintenance of the bitcoin network will be consumed at times more energy than now and I'm not sure how it will be solved. Will build individual nuclear power plants for mining? In my opinion this is a rather serious problem for bitcoin

Bitcoin will use much more energy for those people who are doing mining,to gain more bitcoins. But,if you are only doing other bitcoin activities except this said mining,everything's will have a normal electricity consumptions. We have nothing to worry about this,because it is like an other computer activities on the network.

You're right! Yes it is true that mining digital coins consumes a lot of electricity. But these electricity can be acquired through several ways. The issue now is with these energy producers and government. They should think of alternative to the current coal and gas power plants.

I think eventually the energy based mining method will go to the wayside.  The mining industry is completely bonkers where $1,000 dollar cards new you less than $2 dollars a day.  I get very cheap energy and its still not feasible for me to mine. 

If encryption is adopted by more people, then the energy consumption is worth it. In fact, many mines use idle electricity to dig.

I think that there are countries that are consuming  great amount of electricity but they are using renewable source of energy. I believe that it may not be a problem that could harm the environment. However, if it still using the conventional fossil fuels for the power plants, then it could perhaps somewhat had an effect to the environment especially the ones doing the btc mining.

I'm not agree with you because why you are pointing on bit coin everything uses energy not only bitcoin. Bitcoin uses energy and produce profit for us isn't it enough for us.

well, there are a lot controversial articles on web regarding bitcoin and it's energy consumption, and this article busts some myth about it
https://coincenter.org/entry/five-myths-about-bitcoin-s-energy-use

This topic isn't wrong, Bitcoin consumes a lot of energy, consumes a large amount of power in the search process. That has to be overcome and market operators must move in the same direction.

What is the purpose of this article?

let's look at the following article phrases:


I will speak of this part: "  but that is roughly equivalent to the energy needs of Austria, a country of nearly nine million people "

see that he forgets that there are many miners scattered throughout the various countries of the world, so he is making an absurd comparison. So why is he making such an absurd comparison?

then we find the answer in this passage:

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Dude, do not post things from people who hate bitcoin and because of their hatred they are creating articles for governments to ban bitcoin, it is obvious that the guy who wrote this article wants to hurt bitcoin, he is not stupid that he does not know What comparison is he making is very absurd, He wants governments to ban bitcoin

I dont believe bitcoin use much energy. Bitcoin miner can use alternative energy and compare with others industry, bitcoin use electricity not more than 3% from electricity capacity.

It's true. At present there are many people who own the Bitcoin. These are PCs equipped with many graphics cards. For this machine digging Bitcoin at full capacity for high profits, it consumes a lot of electricity. On a small scale, I've seen 20 times more electricity than normal people. Not knowing how large it will consume.

Mining of a coin has its energy consumption directly proportional to its price. If a coin is expensive, then more energy will be needed to mine it. That is why Bitcoin consumes a lot of energy because it is expensive.

No matter how much energy is used for Bitcoin miners, the electricity bill will still be paid by the miners to the state, and there is nothing wrong with this. this news is really exaggerated by some people, because if compared to factories, Bitcoin mining is not comparable, factories use more energy but people never realize that, I think some people want to make Bitcoin look bad.

This is alarming ,it may not be that dangerous because we can't see the larger picture of the situation. Energy consumption in this year is continuing to rise up regardless of the price of BTC. 0.5% of world ENERGY is expected to be consume only by bitcoin. But the ideology of many people is "it is worth it as long as we get profit out of it" Yes it is correct that we get money out of it, but, will the environment be in danger for these? Well, Bitcoin mining can double a country’s electricity consumption and putting pressure on its infrastructure.

But how do we limit the damage to environment while still earning money?
-limit the impact of such energy consumption
There should be restrictions of using so much power on these mining equipment to every country to avoid energy shortage

Hey there is no way to determine that Bitcoins is consuming a huge amount of electricity, for all I know this is another attempt by the media to deter bitcoin miners. They're playing psychological game with their minds, and are you telling me that Banks do not consume more energy, if it's put to test I'll wager you to the fact that banks are consuming more energy than bitcoins. Also the article mentions energy used is equivalent to 9 millions Austrians using it, this is absurd as all miners are mining from different operations, there's not even one ounce of merit in this story.

.5% is really not that big they just compared it to the whole power needs of Austria to make it look bigger or much more important, but if you look at other power hungry things such as factories of multinational corporations or fleets of cars they have you know that they are consuming more just to earn billions, compared to individual miners who some of them just wants to get out from poverty. The article is really targeting a minor group compared to what is really depleting our resources, which of course is the top 1% of the Earth.

By consuming energy to produce and maintain Bitcoin, one can not judge its quality, it is a cost price, but rather vice versa, if Bitcoin is a popular crypto currency, this is justified, as well as the production of any branded gadget or space rocket.

Andreas Antonopoulos has talked on the subject: https://www.youtube.com/watch?v=2T0OUIW89II


I want to add that if you were going to heat a space anyway, bitcoin miners are more efficient at that than most heating systems.

If we relied on crypto rather than banks and central currencies we'd polute a lot less. Think of the money trucks that go into every supermarket and bank and all the other businesses. Think of the commute to work of these people and of the bankers and of the bank tellers.

Think of all the carbon those magnificent huge bank buildings have released.

It's also relatively easy for a big mining farm to go solar or wind.


Then there is the electricity used in making the fiat currencies themselves. Many of which inflate like crazy. How much pollution did making a (now worthless) wheelbarrow of cash in Zimbabwe cause?

Probably a lot more than the mining equivalent per value of money.

You are dead wrong. It does matter a lot. Doesnt matter, who pays it - in production cost is too high, its pointless to produce it (once pump&dump is over) and it will be abandoned.

If we assume that the entire Internet spends 2 % of the world's pool, bitcoin has a little bit but in the future I heard that it will spend energy as a whole country.

If the price decreases, it won't become pointless to mine. All miners have a different cost base. Miners whose cost of electricity is very high will stop mining. The difficulty of finding blocks will adjust (decrease) and life will go on. Variations in price will definitely not decide the future of Bitcoin as a currency and as a network.

Bitcoin and altcoin are using a large amount of power to maintain their own network, This increase will greatly affect the value and volatility of Crypto!

The use of all that energy is what gives value to the bitcoin, if it were not its Proof Of Work, what would actually be bitcoin? Nothingness.

You dont get it, because You think in short term. Halvening lessens reason to do mining exponentially. After 2 halvenings from now on, mining would become pointless EVERYWHERE in world. They also cant hide the cost of mining into transaction fees any further, which are already about 5 times higher, than average stock exchange rates.

By the way: if BTC really became a money, it would happen even faster. But dont worry, it wont... so You from technical point of view You have few years of pump and dumping left. I doubt it goes for economical point of view too tho.

Well, none of you are quite right.


While it matters how much electricity is used, bitcoin is a net positive for our electrical grid, using energy that would largely be wasted.

If the electricity is produced by conventional and dirty means (coal and gas fired plants, nuclear) then we're always overproducing (because we can't just open up a half factory, and we always have to overbuild for population and energy usage growth)

The electricity will most likely be generated anyway, so we might as well use it.

If a lot of people start using a lot of electricity, prices are going to go up, bitcoin mining farms are not essential so they will shut off and people around the world, with cheap electricity are going to ramp up their hashrate.



If the electricity is green, bitcoin is actually subsidizing green energy (an argument Andreas Antonopoulos has made). The infrastructure to either store or transport the electricity away is usually beyond the budget of alternative energy.

The solar panel is going to produce anyway, whether you can store it or transfer it away or not. And if you can't store it or sell it, bitcoin gives you another option to make money with it.


This also applies to homeowners who aren't allowed to sell their electricity.


Therefore bitcoin subsidizes green electricity.

As Andreas Antonopoulos put it "So you're telling me we've been running a green-coin all along?"



Finally there are plenty of reasons to mine after the mining reward from new coins falls to practically 0, the mining fees and also just to keep the network secure. We are all stakeholders after all.

The less mining pools, the more you get out of those transaction fees. If bitcoin becomes huge, the reward may be even bigger than it now is (in terms of real world value rather than bitcoin (purchase power)).

This is just epic. You call me of being wrong and then You come with an argument like these?

So what You say is, just because energy is produced in surplus, miners should buy it in negative ROI?

Transaction fees doesnt make any sense either, these are already MUCH higher than those of stock exchange. You are a stakeholder of a big empty promise.

Yes it is right that bitcoin  uses many energy but it is also right that bitcoin produces many benefits will is more valuable than the energy and we shouldn't overlook it.

The energy that the bank transactions use are greater than  bitcoin mining. The sad reality is that you only see the bad side of it and not the benefits of using it. But we cannot blame you because that is what the mainstream media feeding all of us.

The energy challenge is an interesting problem. What's great about reality is that there are clear physical restrictions like the speed of light. Has any coin exploited the idea of using the speed of light to slow down computation so it uses less energy?

That might be, I don't know if I agree with you but if the bitcoin is new form of money and will be such world currency then it really worths mining btc.

This is simply stupid. As long there is more benefit then costs it does not use too much of it.
Here is a chart...
https://cdn-images-1.medium.com/max/1600/1*WKvWcK01ZMtoLgycVdqJyQ.png

Mining gold wastes a lot energy and ressources. Yet we accept it.
The entire banking system needs huge amounts of energy. Yet we accept it.
People are wasting energy in a large scale. Still we accept it.

What is different when Bitcoin uses energy to support a decentralized network?

For me, bitcoin is valuable because it is hard to obtain it. Those money we spend on expensive hardware and electricity is a backup of bitcoin value.
Then if bitcoin mining consumes more energy, isn't it will be more valuable?

A lot of resources gets wasted everything in the world, especially in places where the abundance of public services like electricity and water exists, like first world countries or main cities.

That being said, Bitcoin uses a lot of energy but also the everyday consumption of the world with or without it. That consumption will decrease as soon as the mining of Bitcoin finishes, since a good chunk of it is precisely miners. It will continue with the other currencies though.

However, as the world moves towards clean energies i believe it will start to be less relevant. It's about time the human kind starts that shift.

maybe it is true, Bitcoin consumes a lot of energy, especially electricity in its mining, because Bitcoin mining through internet and computer networks is very heavy. on the youtube video https://youtu.be/K8kua5B5K3I which was covered 3 years ago they informed that the electricity cost reached $ 80,000, it was fantastic, because of the 1 city electricity needed by the mine. and it consumes energy.

Too much energy consumption is one of the arguments they use against bitcoin, they fail to also mention that banks use 4times the value quoted for bitcoin at the least. So which is more at consumption of electricity?

Right. Bitcoin is consuming the world's energy. Banks now need a lot of energy to manage and trade bitcoins. The use of highly configurable computers to dig up bitcoins also consumes a lot of energy.

Bitcoin works according to the algorithm, to increase the number of miners, it is necessary to spend more power to get a new block. So in the future, maintenance of the bitcoin network will be consumed in more energy than now and I'm not sure how it will be resolved.

Bitcoin using energy? How can a currency even use energy? Even when Bitcoin is just a digital currency but it will never use energy to power it up.

What energy you mean ? If it is about electricity, then mining bitcoin is not using much energy in my opinion.
You can see many companies that using much more electricity than mining bitcoin. However, we still need to using our resources with cautions.

Bitcoin is transaction all we need to this is a effort and time and the knowledge without that three you can't used bitcoin properly. We can't measure how much energy that we consume while using bitcoin as long it's profitable no matter how much energy it uses.

I agree with you men. As long we  are earning we can use more energy even though it will cost so high. We work hard to earn and gain that are the common mind set of some member of these forum.

For that energy we can use that not for our body energy we can use energy for our mind because here were using here our mind.

Too much energy?  Well, over to the team of scientists and researchers in that regard. When you factor in the electricity involved I'm transactions alone, you'll know it does make for an awful read concerning that electricity news.

In my opinion, energy consumation is already been a problem even before. What others should say is that bitcoin is added as a contributor to this. Everything existing and being developed nowadays really do consume energy. And I believe, there are ways to solve this problem. And that would be the use of natural energy. There are lots of ways to make alternative power resources. Investing, saving and helping nature is what we should do.

Right. Bitcoin is using too much energy. Typically, the use of electricity to exploit bitcoin. People are using a lot of highly configurable computers to dig up bitcoin so it consumes a lot of electrical power around the world.

That's a clear statement, people simply say bitcoin has lead to massive loss of energy supporting decentralized activities. As in the above quote just before revealing such a statement one should analyze themselves about the different operational sectors that consume more energy.

Everyone is using a lot of energy. And he has valid point on that. Bitcoin utilizing energy is no difference from them. But, you can always use alternative source of energy like solar or wind energy to mine bitcoin.  :P

 Cryptocurrencies mining operations need tremendous energy, reaching 19.2 TWh in 2010 .

This information is contained in whitepaper for a green energy project
Either the solution must be on more than one way
The transition of companies from ordinary sources of energy to renewable energy
Use blockchain in power projects because they offer great advantages.

Bitcoin mining difficulty is also increasing and it is getting more hard to mine bitcoin , energy requirement by bitcoin network is valid but i expect output should be more valuable , that too will be possible with the lightening network .

Speaking about energy, yes indeed, it really takes a lot. Thus, it is not only the ability of an individual has been tested but rather his attitude, moral and also his patients. When we come up with such thought, one reason that we should also have to consider - is the energy of our mind. This would indicate the difficulties of our mind to analyze the market on when to invest and when will be necessary for us to make such a move - buy and sell - in the market,

You are right. It is not only bitcoin wasting the energy, there are other thing that consume energy more than bitcoin. As the digital currency, it is unable to exist if there is no energy, the main power of this digital currency is the energy of electricity.However, it is also unavoidable because it is as the improvement of human creation/technology. as long as it gives much advantages for human life we can not against it. Moreover it helps human finance.

I think that all depends on the needs and desires of the investors themselves, if the energy drain has become a necessity in the development of the era and technology

Bitcoin mining is a waste of energy, but if we look at exploiting other types of assets such as gold mining, the consumption of energy is still high. As the cost of mining increases, the value of that asset is likely to rise and more people will want it. In the future, bitcoin will become increasingly scarce and difficult to exploit. The more energy, the more valuable it will be

Bitcoin is indeed an energy consuming thing with high payment but I think that still get down to the country or region you are has some country energy rate is much better to mine btc like Venezuela which has a very good rate compare to some country with as low as $1000 per block or so and that is getting me worried too because with time the bills will be getting higher and less reward , which in some time it will all get mined and reward will base on trx fees which I think might cause high fee just my opinion though.

Bitcoin uses too much energy is true, because bitcoin contains a lot of energy, so that bitcoin can generate a lot of coins, high energy finally raises bitcoin coins, currently bitcoin energy is declining.

There's no doubt Bitcoin uses energy, and probably isn't the most eco-friendly solution.
However, it should be noted, other financial institutions leverage energy as well. From the stock market (and computer manipulating/producing calculations as such) to the banks themselves, everything uses computer power/energy.

It'd be nice to see a fair comparison between the two.

Well, if bitcoin really became more costly and harder to mine, than people used other networks that could displace it. Ethereum, for instance, has a cryptocurrency to it as well, and has more energy efficient way to mine. But bitcoin is still very popular

Yes it is right and I guess the community also aware of this and it is hope that soon they will take necessary step about this problem.

Can comment like that. Bitcoin consumes too much energy, but its exploiters do not accrete. That's bad news for the crypto market and the government.

According to one widely cited website that tracks the subject, the Bitcoin network is consuming power at an annual rate of 32TWh—about as much as Denmark. By the site's calculations, each Bitcoin transaction consumes 250kWh, enough to power homes for nine days. Naturally, this is leading to concerns about sustainability. Eric Holthaus, a writer for Grist, projects that, at current growth rates, the Bitcoin network will "use as much electricity as the entire world does today" by early 2020. "This is an unsustainable trajectory," he writes.Global energy production obviously can't double in two years, and it would be an environmental disaster if it did. Fortunately, while the Bitcoin network consumes a ridiculous amount of energy, particularly on a per-transaction basis, the situation isn't as dire as critics like Holthaus claim. Bitcoin's energy consumption won't necessarily march steadily upward. Indeed, Bitcoin's energy consumption is designed to fall in the long run. And Bitcoin's energy consumption isn't tied to the number of transactions the network handles. That means that increasing use of the network won't necessarily impose a high environmental cost.

The "digging" of Bitcoin consumes a lot of electricity, and as more and more "miners" get involved in virtual money rushes, the amount of energy needed to dig a coin will increase at a tremendous pace. According to a new study, the entire Bitcoin network could consume 7.7 gigawatts of electricity by the end of the year, enough to power a country like Austria.

And if Bitcoin prices continue to rise as some experts predict, the virtual currency will probably consume 5 percent of the world's electricity. This is a huge number, and shows that Bitcoin in its current state is a very inefficient currency that can not last long and is a threat to the environment.

When someone says bitcoin sucks a lot of energy, it means that he has little knowledge and does't want to compare with gold mining, banking systems, and money printing. even though they suck more energy.
especially at this time, there are several solar energy manufacturing projects to reduce energy waste for mining farms. logically it makes sense, even though supplying solar energy is relatively low and cannot drive a fully mining farm.
however, I think that to reduce the mining farm burden there must be a division regulation in each country.

I think as long as it's beneficial it doesn't matter how much energy it uses it won't be a problem at all right?
If we don't use energy to mine bitcoin we still use it for other things to make more money

It is  true that bitcoin consume some energy but it can not be compared to the benefits derived from bitcoin mining because with it one can pay off bills.

Bitcoin’s electricity usage is enormous. In November 2017, the power consumed by the entire bitcoin network was estimated to be higher than that of the Republic of Ireland. Since then, its demands have only grown. It’s now on pace to use just over 42TWh of electricity in a year, placing it ahead of New Zealand and Hungary and just behind Peru, according to estimates from Digiconomist.

Well ... in general, if you look and understand the situation, then there are no problems in this sense. People who are engaged in mining are very few in relation to the general population of people. And even if we take into account the mining of the farm, in which all this happens on an industrial scale, even taking this into account in relation to the global electricity costs, the miners occupy a very small part ...

Bitcoin mining has been said to use more energy that even some countries are contemplating banning it but currently they are projects pushing for alternative energy sources for crypto mining. Maybe they will be able to solve the issue of power usage.

As a matter of fact we can not gauge how much vitality bitcoin is utilizing but rather we can close it takes more vitality in view of its principle function.It is digital.Transaction is electronic.You need to apply exertion, learning and time.

Mining gold wastes a lot energy and ressources. Yet we accept it.
The entire banking system needs huge amounts of energy. Yet we accept it.
People are wasting energy in a large scale. Still we accept it.

It is right because it is a huge technology so, it needs a lot of energy to run the whole system and I think they should make their own power plant.

Bitcoin uses too many energy only because it needs too many energy and there is no shortage of energy and if they have no problem then why we face problem.

We can't measure how much energy we used to bitcoin as long that you want to used bitcoin whatever you want, if you want to earn profit you will not count that energy that you used because your goal is to have a money not counting the energy that you used.

It does the consumption is very high , the flock of new miners and old ones are making electricity demand high and non profitable to mine due to rising demand and supply for electricity in mining btc alone. Mining cause too much consumption using energy. 

It depends on how to compare energy of costs. You need to try a compare the estimated costs of maintaining the bitcoin network with a lot of employees of financial structures that Bitcoin doesn't need.

Mining is energy intensive, however the actual energy consumption used by crypto overall is a tiny fraction of global energy demand. It would be better though for the planet if we could make a contribution to the reduction in global energy use by finding a better and less energy hungry way to mine.

that's true because mining requires intensive energy, so much energy is needed when working on our goal for bitcoin so we have to calculate the energy we do because this is very large technology

You (and most of the people) are focusing on the wrong thing bitcoin uses too much energy it's not true.because when anybody speak bitcoin uses a lot of energy, it means that he has small knowledge.but i maybe they will be able to solve the issue of power usage.

I am not sure that people who are hunting for Bitcoins and mine them think a lot about the energy they use. Yes, they have to pay for the electricity but they get more. maybe, in future, the solar energy will be used for the crypto. Why not?

Bitcoin does use some energy during the mining process and I agree with that but that is a necessary cost to spend when we want to do a better transaction without any problem or interruption unlike other systems or sources. Also we see more and more sustainable mining methods are invented very often so I don't think this issue will be any more in the near future and Bitcoin will consume less energy than ever soon 

solar energy is already implented within the use of crypto mining but solar energies cant produce enough power in order to mine a coin succesfuly so they refrain from using it . miner are now using high powred hardware devices because it is more effecient to use than any other forms of free energy like solar , win or water .

bitcoin only uses a lot of energy if you are mining it but if you are only using your bitcoin the normal way like for paying , trading , investing , then it doesnt consume to much of electricity .

I think and as I see that there is no special energy required, that demanding attention and integration with the crypto-world. So I spend little energy for bitcoin, some more, all in different ways)

Big projects always consume large number of energy but it also produce big profit and they pay for their usage of energy so, it is not a big deal.

Yes ofcourse, bitcoin consumes much energy.
As a matter of fact, it is estimated that the bitcoin has consumed energy that is as massive as the energy consumption of the country of Singapore .

There must be a solution to this energy problem. If the Blockchain networks are to be sustainable in the future, this energy problem should be resolved as soon as possible.

Certainly bitcoin uses too much energy but this huge amount of energy is consumed in order to generate money. So if I can get cash from this, i don’t really have any other option but rather stick to it, to earn more.

We can't calculate the energy that consumed by bitcoin, if that was the bad problem it's easy to fixed. They're some option to save energy like solar and hydro power. For me some of the big mining companies are using solar panel to operate so no worry at all. It's not a big deal because they used big energy and get big profit and pay their bills. If there are shortages of energy then the problem are not about them.

 Many say bitcoin use too much energy and it is a popular debate that we see going on about the environmental damage that is done due to bitcoin mining and I have heard some miners say bitcoin mining consume more electricity than other currency mining and some even don't mine bitcoin anymore specially in countries like mine where electricity prices are high so there wont be any considerable amount of profits at the end for the investment but hope with better solution this situation will change or this will become a major issue for the environment if majority of the population starts to use bitcoin   

In my opinion bitcoin mining doesnot uses much energy or electricity instead the electricity used by use in our homes or offices or public places like banks, cafe etc are much more on higher side than bitcoin mining. moreover it doesnot cause any harm to our computer systems also.

Banks and bank workers use over 5% resources of planet.

That is the opinion of many miners and like others I think this is a negligible issue because the out come of the bitcoin is much better than the cost but this issue should be fix as soon as possible because this increase the mining cost immensely which reduces any gains for miners who came to the mining field with the desire to earn bitcoins and there job is very important to the bitcoins future and its existence

it is true that the energy that is used on bitcoin is very much, bitcoin is the most energy-intensive digital currency, the energy used in bitcoin is unlimited, bitcoin is becoming more visible to the public.

Gold mining consumes a lot of energy and resources. But we accept it, the entire banking system requires enormous energy. But we accept it, people waste energy on a large scale. We still accept it.

Of course it uses energy but i'm not agree with the statement that it uses too many energy and it pay for the energy that it use.

Bitcoin really uses too much energy and many miners say that because earlier bitcoin mining was considered as easy and very profitable and that is the main reason many miners were joined to the network but now things has got little complicated because electricity in many countries are not cheap and even mining hardware is too expensive so most miners think bitcoin mining power waste at least should be reduced in coming years so miners can take a profit than a lost and it will do good even to the network 

Statistics may have pointed that bitcoin is using too much energy but when considering the return that bitcoin provide for its users it is beneficial because large number of people now rely on bitcoin as traders , investors or as users who use it as a currency for payments and there are individuals who have made bitcoin there only living source so if we neglect bitcoin by only pointing its one problem we have forgot all its benefits in the process so rather than accusing bitcoin we need to find a better solution to fix the problem or to  reduce it 

First and foremost, energy is not issue at all it does not matter how energy you produce as long as you earn more money from it, energy is not issue. But in terms of consuming energy that involves economy, we could say that it is too much energy are produced but, since solar power are already implemented we cannot assure that this are enough to mine a coin successfully. But back to the topic, like waht ive said energy is not issue at all as long you earn money it does not matter.

By consuming energy to produce and maintain Bitcoin, one can not judge its quality, it is a cost price, but rather vice versa, if Bitcoin is a popular crypto currency, this is justified, as well as the production of any branded gadget or space rocket.

Every aspect of the industrial use require energy and even all the sectors consumm lots of energy e.g the banking sector and all the rest, bitcoin is not an exception and due to the peculiarity of the blockchain technology and mining activities bitcoin transactions requires constant energy but the question we should ask our self is is it profiting if it is then why complaining after all the energy will still be used by other sectors of the economy.

Bitcoin is developing recently as a passive, they seem to live, but they are not visible in the cryptocurrency market, I hope soon they will come to life and show themselves in full force.

I believe that at the moment energy consumption is not the main problem. The banking system also uses too much energy.

By consuming energy to produce and maintain Bitcoin, one can not judge its quality, it is a cost price, but rather vice versa, if Bitcoin is a popular crypto currency, this is justified, as well as the production of any branded gadget or space rocket.

There is no problem with energy usage as long as what we do is helpful to our country, specifically to our economy. Even the bank, the industry uses too much energy.

I don't think Bitcoin power consumption is at a worrying level at least for now. Why did you say counterproductive, anyway? You should compare Bitcoin energy consumption against other financial service energy consumption too. All those ATMs from banks all around the world, working 24/7, how much energy is used to power them? How big is the environmental effect for making paper money and coin? If you take them into account I'm sure Bitcoin energy consumption isn't something to worry about.

The solution is private green power plants. Such a current practically does not cost and does not consume natural resources. This is a very good solution.

Actually bitcoin do not use too much energy, the miners are user to use too much energy, they use a lot of mine machine to mine bitcoin and other altcoin. that is the reason that the energy uses too much by bitcoin

Bitcoin uses too much energy and most agree on that but it is not a problem with bitcoin but there is a problem with the power source we used to mine bitcoin because most miners use home electricity mainly because it is the most convenient method they can find but this is a era where even cars and houses use solar electricity to run instead damaging the environment but yet even for a great innovative currency like bitcoin we haven't found an innovative way to mine it and we accuse bitcoin that it is making environmental damage but we already have the technology to stop that right now but nothing effective is happening

I don't agree with you because there are many other institutions which use much energy and they pay for that then what is wrong if bitcoin use it.

Yes, I also agree that bitcoin use many energy but it is normal because in order to run a big project huge number of energy is essential.

People who say that bitcoin uses too much energy and it causes environmental damage has forgot major side about bitcoin and those are the advantages and benefits it provides by using those electricity and also because bitcoin is a first generation digital currency it may use little more energy than newly introduced cryptocurrencies  but still we cannot ignore good things it has provided and it will provide in the future to the worlds economy

According to my understanding the energy used by bitcoin mining is not a problem and it is negligible because we haven't calculated how much of electricity is wasted by currency traditional money transferring systems waste world electricity due to there ineffective systems and processes and if we do that we will definitely find what is the best way to transfer currencies and I am very sure that Bitcoin will win because no other technology in the traditional financial system can compete with Bitcoin at the moment

As time goes buy, I really accept that I am to consume portion of my income for bitcoin. I pay internet bill, but I guess it is small enough to what I receive and of course energy for charging my devices. But then it is not a huge factor after all compared to what I usually have.

Bills are small compare to what you have earned using the energy. Some mining consumes much electricity but they are not complaining because they are earning good from that. You have to invest on everything for you to earn profit that you cannot imagine. Taking the risk at first and enjoy the good result after that. Bitcoin do not used to much energy depend on what you are working for.

No problem because bitcoin has a good value, using energy to serve the market is good.

as long as we don't do mining and only invest and trade,
it's not a problem and doesn't consume much energy, there are still many ways to get bitcoin without having to spend a lot of energy.

I think bitcoin uses is energetic but i don't know is it too much energy or not. Bitcoin is a global digital currency. Most of people are using or involved with bitcoin. It is a more profitable coin than others. It is very easy to use and exchange. That's why i think it is energetic for me.

Save any unexpected events like 100.000s coins being thrown on the market I think anticipation and or effect of bakkt might push the price another 1-2k at the end of the year until it flattens again to 6-7kish territory, maybe even lower in early 2019 (chinese new year theory).

At the same time I feel a lot of people are sitting on the fence waiting if price will ever drop to 3-5k territory again so that they can jump in buying whole coins once more.

Then sometime between 2019-2021 in anticipation or effect of the halving the next bull run will go off in the stratosphere of around 100k per coin, plus minus.

This profound ta is based on a feeling in my balls which I will never eat on live television, no matter the price of bitcoin, or bircoin.

Unless we get some serious new adoption like Amazon or Walmart accepting Bitcoin, it's gonna be hard to have another fomo bull run until we get closer to the next halvening. We're probably gonna have some good stuff like Bakkt propelling Bitcoin into maybe $8-9k. But psychologically it's always hard for a market to jump back in that soon after a major crash and major bear market. There's always a long period of caution and cold feet by the general public.

To ensure that coins cannot be minted too quickly, as the overall network’s computational power increases, the bitcoin protocol continually makes it harder to find a putative solution. Every 2016 blocks (roughly every two weeks), the system is recalibrated.

It does use as much it does to mine gold. :D

Yet mineral rich countries continue to do it and use a hell of a lot more energy and resources to do it.
Not to mention destroying the landscape while doing it. :-\

Judging that bitcoin is very little left to make all the coins, so at the moment it takes more energy to extract.

We can't measure exactly how much energy Bitcoin consumes

I agree with you "we should not use more than we need on this earth". And the improvement of bitcoin is growing so fast, obviously it is consuming much more energy. In other hand, we cannot avoid the improvement of bitcoin. Therefore, it needs for any authority or stakeholder to create and make a regulation about bitcoin and blockchain technology. Hopefully, it will be better and minimize the energy usage of it. Recently, we have never seen that government or any authority that concern about it. It always seems that all government against and avoid it. It will be more awesome creating a regulation rather than ban and against bitcoin.

actually we cannot completely conclude as to whether it uses much energy but to me it is time consuming

Yes,Bitcoin uses too much energy.Many people uses bitcoin because it's World wide currency. This coin very popular for some times.Day by day this users Increase.
This price some time up & Down.So I there for it's very good coin.

No do not generalize the people or every country around the world because most of the develop countries had created some advocacy on conserving energy. They are working on and advising the third world or developing countries to conserve however these develop countries are hypocrite since they are not following their advocacy imposed on the third world countries and for that those countries are wasting so much energy.

Yes
. Bitcoin consumps much energy and if nothing is done to curtail it. We might as well start bracing up for energy scarcity era.

for me bitcoin needs a lot of energy because many people who benefit bitcoin around the world know that bitcoin, mining imperative need a lot of them for a bit of bitcoin mining every single day. energy is needed because that's important to everyone

Some consider the energy waste caused by bitcoin mining as significant in the world when there are so many other energy wasting work done in the world such as light polution, and other major areas but bitcoin mining causing energy waste is shown frequently through media and other sources which I think due to lack of understanding about the good that it does to the world and its people