Are we all going to power consumption hell?

[European Central Bank]

Go where the clean power is and we all go to heaven. I think the amount of power burnt is pretty offensive considering how few users there are. You can talk all day long about how much banking systems use but it also services billions of people and trillions of transactions. Maybe bitcoin will inspire some revolutionary energy saving some day. The incentive sure is there.

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[Apened]

After several block reward halving, the mining income from the transaction fees will domininate, so the total income might reduce, the difficulty rise will not be so high.

[gregyoung14]

Actually that's the idea. Be more proactive on this - figure out what can we do with the heat output. Surely there must be a way we can take advantage of this and make use of it.

[bitcoinboy12]

After several block reward halving, the mining income from the transaction fees will domininate, so the total income might reduce, the difficulty rise will not be so high.

That is if Bitmain and other companies will reduce their hardware mining production.

[Patatas]

Yes indeed! If there is a source to gather up heat from all the centers or say the heat gathered from every area could be centrally collected to warm up a blast furnace to produce iron from iron ore.A lot of coal which is supposedly an non-renewable natural resource .Furthermore a lot could be done from the heat which can replace solar panels if mechanically engineered.

[Xanidas]

After several block reward halving, the mining income from the transaction fees will domininate, so the total income might reduce, the difficulty rise will not be so high.

That is if Bitmain and other companies will reduce their hardware mining production.

I think they are increasing the hardwrae mining production. The difficulty is sky rocketing at the moment.

[notlist3d]

With all the changes I started some new ROI spreadsheets.   My ones from a few month's ago seem to optomistic with difficulty changing so much.

I had not added up till today the past year's electricity.  I was focused on month to month (as my gear channges buy new get rid of older).   Only thing for sure i my new set of ROI spreadsheets is the electric company must love me.

[Apened]

With all the changes I started some new ROI spreadsheets.   My ones from a few month's ago seem to optomistic with difficulty changing so much.

I had not added up till today the past year's electricity.  I was focused on month to month (as my gear channges buy new get rid of older).   Only thing for sure i my new set of ROI spreadsheets is the electric company must love me.

I think the realistic difficulty rise should be at least 15% for the next 6 months. The 16 nm miner will increase the hash quite a lot.

[notlist3d]

With all the changes I started some new ROI spreadsheets.   My ones from a few month's ago seem to optomistic with difficulty changing so much.

I had not added up till today the past year's electricity.  I was focused on month to month (as my gear channges buy new get rid of older).   Only thing for sure i my new set of ROI spreadsheets is the electric company must love me.

I think the realistic difficulty rise should be at least 15% for the next 6 months. The 16 nm miner will increase the hash quite a lot.

We have no idea what it will do.  15 percent each change is a heck of a lot more then we were doing most of last year - https://bitcoinwisdom.com/bitcoin/difficulty .  Really since November we had crappy numbers for a lot of it.  I'm not sure you can blame right now on 16 nm, it just as easily could be bitmain with current chips.

But yes once 16nm hit the shelves in data centers they will do it fast.   It's hard to tell how bad it will get.  Our main hope is if bitcoin has a big value increase were getting a little bit but not enough in my opinion.   But I think this post is getting off track as it was talking about consumption.

Right now compumption is a lot on last gen gear with normal electricity prices.  I sold all my last gen gear and bought coin's.  I was just not making enough to be worth it. It will go into buying more miners not for sure yet if I want more of current or wait.... I'm torn but I do feel good about selling now on last gen.

[Mastsetad]

Right now compumption is a lot on last gen gear with normal electricity prices.  I sold all my last gen gear and bought coin's.  I was just not making enough to be worth it. It will go into buying more miners not for sure yet if I want more of current or wait.... I'm torn but I do feel good about selling now on last gen.

I think eventually, the power consumption will be equal to the earnings from the all the blocks rewards+ fees. It does not matter how advanced the miner is.

[notlist3d]

Right now compumption is a lot on last gen gear with normal electricity prices.  I sold all my last gen gear and bought coin's.  I was just not making enough to be worth it. It will go into buying more miners not for sure yet if I want more of current or wait.... I'm torn but I do feel good about selling now on last gen.

I think eventually, the power consumption will be equal to the earnings from the all the blocks rewards+ fees. It does not matter how advanced the miner is.

i don't know about that.  I think there has to be profit for some to continue at this point.  Bitcoin is so big and has a lot of power behind's it's network.  One day the fees alone should pay for the network .. but were pretty far away from that currently.

But always going to be profit or we lose a lot of hash.  Just coming out equal financially will be hard to convince many to keep mining.

[DrG]

Semiconductors will be hitting an area of limited gains shortly and the same with mining technology.  It may not be worth to spend the 2 hours of labor swapping out a unit to put in a new unit for minimal energy savings and possibly new downtime.

[Apened]

Semiconductors will be hitting an area of limited gains shortly and the same with mining technology.  It may not be worth to spend the 2 hours of labor swapping out a unit to put in a new unit for minimal energy savings and possibly new downtime.

Is the limit in the 10 nm range? That is 100 times the size of an atom. The latest chip is about 14 nm as far as I know.

[Amph]

if they are all using s7 for their mining, it appear that the total wattage is around 240MW

200k s7 for 1200w

[hv_]

if they are all using s7 for their mining, it appear that the total wattage is around 240MW

200k s7 for 1200w

Ah thanks, you did same math here  - just 2 min before me:)

[Amph]

if they are all using s7 for their mining, it appear that the total wattage is around 240MW

200k s7 for 1200w

Ah thanks, you did same math here  - just 2 min before me:)

yeah, it would be curious to know the maximum energy per zone that chinese can use before the needs to move to another location

[hv_]

if they are all using s7 for their mining, it appear that the total wattage is around 240MW

200k s7 for 1200w

Ah thanks, you did same math here  - just 2 min before me:)

yeah, it would be curious to know the maximum energy per zone that chinese can use before the needs to move to another location

Yes - I  could also think this will be only a 'near' term advantage until it is noticed & stopped and / or reaches some external threshold.

[Mastsetad]

The hydro power station that is used by HaoBTC to mine has the total capacity of 25MW. That is about 20,000 S7.