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Author Topic: Bitcoin without electricity  (Read 421 times)
joker_josue (OP)
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May 14, 2021, 12:19:25 AM
 #41

One of the most important points that bitcoin and crypto money has been criticized recently is the energy issue. They were subjected to many negative criticisms for their need to consume energy and the thought that they pollute the environment. Unfortunately, this also affects the market. I am very curious about how to overcome this problem.

That Bitcoin consumes a lot of energy, it's just theory. So, as many say that an electric car pollutes more than one combustion, as some claim.
If I take the numbers and make a comparison with other numbers of my interest, the result will be what I want.

So I don't argue whether Bitcoin uses too much or too little energy. It spends the necessary energy.

The point is that if for a moment there is a power outage in some location, bitcoin completely stops working in that location, even if it is for a few hours or days.

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iTradeChips
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May 14, 2021, 03:12:05 AM
 #42

One of the most important points that bitcoin and crypto money has been criticized recently is the energy issue. They were subjected to many negative criticisms for their need to consume energy and the thought that they pollute the environment. Unfortunately, this also affects the market. I am very curious about how to overcome this problem.

That Bitcoin consumes a lot of energy, it's just theory. So, as many say that an electric car pollutes more than one combustion, as some claim.
If I take the numbers and make a comparison with other numbers of my interest, the result will be what I want.

So I don't argue whether Bitcoin uses too much or too little energy. It spends the necessary energy.

The point is that if for a moment there is a power outage in some location, bitcoin completely stops working in that location, even if it is for a few hours or days.

From the looks of it, even the media itself or in this case the crypto-based media is also betting on that proposition that Bitcoin uses too much energy. An article that I just read said that there was an estimate by the University of Cambridge, and they suggested that Bitcoin mining consumes more than 120 Terawatt Hours (Twh) per year. And that amount of electricity used in a year is like more than the electricity usage of the countries like Malaysia, Sweden or Argentina. It also said that "The report also stated that bitcoin could rank in the top 30 energy consumers if it were a country".

Source: https://www.livemint.com/market/cryptocurrency/how-does-bitcoin-mining-impact-the-environment-11620898893877.html

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joker_josue (OP)
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May 14, 2021, 07:09:01 AM
 #43

From the looks of it, even the media itself or in this case the crypto-based media is also betting on that proposition that Bitcoin uses too much energy. An article that I just read said that there was an estimate by the University of Cambridge, and they suggested that Bitcoin mining consumes more than 120 Terawatt Hours (Twh) per year. And that amount of electricity used in a year is like more than the electricity usage of the countries like Malaysia, Sweden or Argentina. It also said that "The report also stated that bitcoin could rank in the top 30 energy consumers if it were a country".

Source: https://www.livemint.com/market/cryptocurrency/how-does-bitcoin-mining-impact-the-environment-11620898893877.html

But that happens, because they are comparing the consumption of an economic activity, with a country. In my view it makes no sense to compare a country with an economic activity. They had to compare it with another economic activity.

Why don't they do that, for example, for car production?
But in the production of the car, it has to include the energy spent in the factory, the transport of material between factories and the transport of vehicles for sale.

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mbe48
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May 14, 2021, 09:59:14 AM
 #44

This statement refers to 'Bitcoin without electricity' which means Bitcoin Offline, obviously not.
In my opinion, there is still no way if Bitcoin without electric power is Bitcoin has full access to the network using electric power.
But the problem is if you want an alternative to replace electric power, namely using solar power, wind power, hydropower and even portable electricity (power bank), it can be used temporarily.
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May 14, 2021, 10:28:06 AM
 #45

Bitcoin will never work without electricity, due to the high demand for electricity supply then it might be one of the reasons why some are against it, however, they did not realize that bitcoin mining is not the biggest consumer of electricity and there's no study saying it is. All of these are just FUD, Elon's reason was wrong, it was not the electricity issue but other hidden agenda of his.

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May 14, 2021, 10:30:25 AM
 #46

There are many things that can be use now as Power provider , You can have Solar Panels and you don't have to worry about other supply.

You can have your own generator at house in which you only need fuel to operate.

So i think Bitcoin can be use even without direct supply of Electricity from supplier.
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