When will Bitcoin be more energy efficient?

[mazdafunsun]

Simple logic says - no , it wont become more energy efficient because hash-rate will continue to increase , and costing more in energy perspective.

But all this means nothing, the main question is what sources of energy bitcoin uses. If they are renewable - no one cares.

[countryfree]

Mining BTC is very energy efficient. The only problem here is greed.
With more and more people getting into mining, it's taking more and more energy to mine.

The only way to reduce BTC's global energy consumption would be to reduce the number of people mining.

[figmentofmyass]

Mining BTC is very energy efficient. The only problem here is greed.
With more and more people getting into mining, it's taking more and more energy to mine.

The only way to reduce BTC's global energy consumption would be to reduce the number of people mining.

it's important to note that bitcoin miners are not always consuming electricity, but rather are often using excess electricity that's already been generated. the rational mining incentive drives miners to find the cheapest energy sources. that means industrial miners seeking out load balancing arrangements with major power generators, where miners take all excess power beyond actual demand at a deep discount.

it also means that renewable sources like hydro, solar, and wind power are now backing the majority of the network, as renewable energy becomes cheaper and cheaper (even without subsidies).

[Artemis3]

I am asking as a non developer looking for the links to project or the timeline of developing solutions to this problem. Thank You

The answer to your question is easy: Soon. Everyday this gets closer. Why? Because mining is becoming unprofitable at any electricity price. You will see this unfold in the next decade or so. As both asics become efficient and mining rewards lowers down the drain, most miners, especially the big ones will leave.

What these guys doing these charts never consider is how mining has slowly becoming more and more unprofitable, you you need to spend more and more to mine and those others doing the same lower the profitability overall. There is something like a worldwide cap that is about to be reached.

Bitcoin price will NOT compensate for mining at the same rate, the rate at which mining has expanded is different to the bitcoin price curve, compare both and you'll get the answer. Bitcoin price increases will slow down more and more, while mining profitability slows down more and more, faster than what the bitcoin price is.

As an Austrian school economist would say: The best thing to do, is do nothing. It IS fixing itself by the market. The time for mining is ending, even if a couple of Asic generation come it is getting to the point where nobody will buy them anymore. This market will contract so much that, if the likes of Bitmain are unprepared, they might as well close doors.

While certain other altcoin wants to do this by force, it is naturally occurring to Bitcoin. Just wait.