Bitcoin Forum

What do you think about it? I believe this whole discussion is senseless. If you want to understand more please read the article below

https://cointimes.com.br/bitcoin-energy-consumption/ (https://cointimes.com.br/bitcoin-energy-consumption/)

Energy consumption of bitcoin has never been a problem but an advantage. Without costing too much to mine bitcoin everyone could've started mining and like other coins it could never reach any price higher than $500.

There’s an endless list of energetic expenditure related directly to central and private banks. They have over thousands ATM machines, deforestation to print paper money, the expenditure with servers infrastructure maintenance, also the maintenance of these ATM machines, physical agencies and security for money transportation.

I've said it multiple times already and will repeat it every time this topic comes up.
This is a free market. If people are willing to pay you for the power you should provide it, sell it, make money. There's completely no problem! What if people find out that eating fish is healthy and they all wanted to eat fish every single day. I guess some people would invest some money, create artificial lakes and start selling fish to satisfy the demand. It's not like we're going to run out of power because somebody is mining BTC.

Maybe is far from being a problem for us, but people who are interested in mining or who live from it, could make life easier for you not to consume as much...

All technology I believe take energy in order to function as internet need its source in order for all online and up to date profile maintain its functionality and Bitcoin uses phone and computers in order to use, so far, people should find ways how to make free energy source to lessen their utility expenses.

First I think you should stop promoting your blog this way, with discussions that have been covered a hundred times already...

Second, there is a paragraph in your article that is non-sense...


Bitcoin mining is not like using light bulbs, there is absolutely nothing like it.

When you mine, you have costs and revenues.
If you can earn a revenue of 10 000 with 9 000 spent on energy you are going to mine.
It doesn't matter how efficient those miners are, nobody cares about efficiency alone, it all comes to how much kwh spent on how much $ earned.

So as long as the daily reward will be 100 million people might spend 90 million on energy.
If it goes to 1 billion they might burn 900 million worth of it.

It's not like a light bulb where you can light your room cheaper, if a miner will be twice as profitable, they will simply buy twice as more and in the end consume the same amount of power.

Miners have become more efficient for 9 years, it didn't stop power consumption going up.

When the S1 was launched it delivered 180 GH/s at 360 W
The S9 comes with 13 TH/s at 1375, the efficiency went 20 times up.
But the global hashrate went 3 000 !!!!!! times.

It's definitely as much of a concern as they paint it out to be in the media. If you pay for your electricity, you should be free to use your KwH on the services you choose, whether that be Bitcoin mining or otherwise. So long as there is a global push towards renewable energy sources we'll eventually reach a time where energy consumption is not a concern. Regardless of the scale.

I don't see bitcoins consumption be a real problem for electricity generation. Bitcoins used of energy for mining is negligible and have not much effect on the general consumption of electricity.

This whole thing was just all FUD right from the beginning. People were talking about how Bitcoin mining produces more electricity than the country of Ireland or whatever...it was all proven false.

Seems fair enough, I also think that the price of electricity is not the big deal, because electricity is renewable and also not that expensive to be a really great problem for Bitcoin, that it would not be able to solve or cover.