[2015-06-21] Bitcoin Mining May Soon Turn Eco-Friendly

[tyz]

The whole premise behind Bitcoin is to democratise the economy. But increased mining costs and processing power requirements have led to the creation of few large Bitcoin mining pools run by data centres belonging to companies which invite people to invest in these centres for a small share of rewards in bitcoin.

http://coinyoo.com/2015/06/20/bitcoin-mining-may-soon-turn-eco-friendly/

[Kakmakr]

"But soon it will change, thanks to affordable wind turbines and solar panels entering the market. People will soon be able to have their own setup on their homes and generate enough power to power their mining hardware"
What the FUD? Solo Bitcoin mining will never be able to compete with mining farms, even if they used free electricity. These devices will become mere useless gadgets in the Internet of things.

[DooMAD]

Article is a bit of a stretch, really.  It's basically saying, "once technology has improved, everything will be more environmentally friendly", which is fair enough.  That part is certainly possible (although not guaranteed).  But then somehow tries to twist that notion into "bitcoin mining will be affordable for everyone", which is highly unlikely, to say the least.

[Carlton Banks]

The entire premise that mining cryptocurrency poses any measurable threat to the environment is false.

People simply don't understand the purpose of the mining. IT'S WHAT MAKES IT VIABLE AS MONEY. Geddit?

[medUSA]

This article is full of it. The writer don't understand bitcoin and is writing articles?? Journalism these days 

Increase in the number of bitcoins and bitcoin transactions is progressively increasing mining difficulty.

Difficulty is based on network hashrate, number of bitcoin and transactions do not affect difficulty.

When it comes to costs, electricity from renewable sources is cheaper compared to other conventional sources.

How about initial upfront investment and maintenance? Electricity from renewable sources are not practical for mining.

[tyz]

This article is full of it. The writer don't understand bitcoin and is writing articles?? Journalism these days 

This was one of my first thoughts too.  If I didn't know better, I'd say the article has been written by a textbroker author 

[unamis76]

Just a regular article without anything clear... He could have mentioned that mine from HaoBTC that's been appearing a lot on the forums lately, that's using hydro power. He could have shown that guy on youtube mining with solar power too.

Anyways, everything is obviously getting more eco friendly. Chips are more effective, consuming less electricity for more hash...