Bitcoin Forum

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Electric power was started to be used widely in 1870s ,which pushed the second industrial revolution forward .The large sacle electric system is one of the most important success in 20 century .Today is the internet times ,we invent computer ,household appliances and so on .To the whole society ,electric power is a kind of valuable resource .
Bitcoin mining energy consumption draws much attention today.Now bitcoin mechanical calculation reaches 77p and will be increase .And the electricity consumption will reach 0.16 billion degree.
Then ,somebody scolds bitcoin mining .So I will explain bitcoin mining consumption problem from electric power angle ,and tell everybody that bitcoin mining energy consumption will not waste electric power in the future ,and will make use of it .

The special attribute of electric power
Though electric power is the main motivator of economic development ,we don’t have a better understanding of its attribute .
(1)Electric power cant be saved substantially .In fact ,it cant be saved completely .
(2)Transmission enjoys consumption .With resistor on the cable ,the transmission process must enjoy consumption .Though Japanese electric power management is most advanced ,its consumption is still 5%.Moreover ,with a longeron transmission distance ,the consumption is bigger .

The change of consumption
(1)The season of highest electric power consumption is summer.
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(2)In a day ,the highest electric consumption is from 10am to 8pm .
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Kinds of electric power generation and the advantages and disadvantages
Electric power generation :thermal power ,solar energy ,wind power ,nuclear power ,water power ,hydrogen power and so on .
(1)thermal power generation burns coal ,petrolic ,natural gas ,liquid and gas fuel to produce thermal energy .
(2)solar energy generation may change solar energy into electric power .
(3)Wind power generation may change wind into mechanistic kinetic energy and change into electric power again .
(4)Nuclear power generation use nuclear fission to release thermal energy .
(5)Water power generation may change water into mechanistic kinetic energy and change into electric power again .
Among five of them ,thermal power is the best choice .Its scale is easy to expand .Of course ,it can be provided only with coal .But It also enjoys disadvantage including pollution .
Nuclear power is similar to thermal power ,but safety is a problem .Wind power should be in a place with strong wind ,so it may be far away from the city .Solar energy is everywhere ,but it’s difficult to deploy in the city .

Bitcoin mining will make use of the wasted electric power
(1)use the spare generating capacity of the power station.In order to prove the stabilization of power grid ,the power station may start up spare generating capacity of the electric power system ,so it may cause waste .In the future ,this part will be used to the bitcoin mining .
(2)make use of excess production capacity .The excess production capacity may be used to bitcoin mining .
(3)make use of remote gnarly electricity ,including water power ,wind power ,solar energy .Their generating capacity is difficult to control and demand to be transported remotely .So building up a bitcoin mining field can make use of the resource .


Remaks: Due to language difference, sometimes people out of China can’t know what happened in China quickly. so we are here to make effort to change little, we will translate 3-4 bitcoin news in China to English everyday to help people out of China know what happened and what people thinks about bitcoin in China, If somewhere translate not that good, pls PM us so that we can  correct it.

With the block-size halving every 4 years, Bitcoin mining will become less and less profitable over the years. The number of miners will decline (unless the transaction fee is increased by many times) and the electricity consumption for mining will also decrease, proportionally.

https://www.youtube.com/watch?v=qlTA3rnpgzU#t=373 (https://www.youtube.com/watch?v=qlTA3rnpgzU#t=373)

That looks extremely promising.

note that this post is written by someone with ostensible investment in the bitcoin mining industry.

-bm