Bitcoin could consume as much electricity as Denmark by 2020

[fenican]

There is broad scientific consensus that athropogenic climate change is real. Solve by inspection problem if you look at any ice cores covering past 20k or so years.

That said, the contribution of Bitcoin to anthropogenic climate change is entirely trivial. Removing Bitcoin will NOT solve or substantially reduce the scope of the problem. Moving to renewable energy sources for electricity generation is the answer. Nuclear, solar, geothermal, etc...

[European Central Bank]

All energy's gonna have to switch to renewable for miners to do the same unless they can find a source that's alot cheaper than normal. I don't think they give much of a shit about their carbon footprint.

[Carlton Banks]

All energy's gonna have to switch to renewable for miners to do the same unless they can find a source that's alot cheaper than normal.

A significant minority of miners already source renewable electricity from places like Iceland, Sweden and Washington state. You clearly know little about the mining market today, let alone the future market.

I don't think they give much of a shit about their carbon footprint.

Neither do I or the rest of the world's thinking apes. If you want to pay money to Big Oil for the privilege of being able to breathe air, that's your problem.

[road to morocco]

All energy's gonna have to switch to renewable for miners to do the same unless they can find a source that's alot cheaper than normal.

A significant minority of miners already source renewable electricity from places like Iceland, Sweden and Washington state. You clearly know little about the mining market today, let alone the future market.

Lol @ "significant minority," wtf makes it significant?
Most mining is done in China. "80 percent of [China's] electricity production come from coal"

http://www.jamaicaobserver.com/assets/11416106/pollution.jpg

[fenican]

Big Oil nowadays is more like Bankrupt Oil. Perhaps we should change the name to reflect the fall from $150 down to $40 a barrel.

[MingLee]

Big Oil nowadays is more like Bankrupt Oil. Perhaps we should change the name to reflect the fall from $150 down to $40 a barrel.

They're not bankrupt yet, most of the countries with massive oil exportation businesses are siting on top of piles of money, they might just be downsizing for the interim while the value of Bitcoin is low.

[Carlton Banks]

Lol @ "significant minority," wtf makes it significant?
Most mining is done in China. "80 percent of [China's] electricity production come from coal" (http://www.chinafaqs.org/blog-posts/what-future-king-coal-china)

Being more than single digits in percentage terms is a rule of thumb for a valid significant minority. Extra-Sino mining is about 40%. Why you're quoting figures about how China's electricity sources break down I don't know, what I said depended on China using mostly fossil fuels for power and constituting 60% of the BTC mining market. You have proved precisely nothing.

Big Oil nowadays is more like Bankrupt Oil. Perhaps we should change the name to reflect the fall from $150 down to $40 a barrel.

Exactly. All the changes to the energy market have been broadly predictable for the past 40 years, and these big corporations aren't just going to pack up the shop and go home. And what a big surprise that the more they run out of profitable assets to sell, they try to sell the one thing they have left: bullshit

[Superbitzz]

i never think about it. i think its not more than a usual bank cosumption. it nothing in term of business, marketing, so think its not such a big issue to discuss it so deeply. therefore no need to worry that it will effect the atmosphere

[ultimatesky]

i never think about it. i think its not more than a usual bank cosumption. it nothing in term of business, marketing, so think its not such a big issue to discuss it so deeply. therefore no need to worry that it will effect the atmosphere

It is a problem and with countries like china/india working very old factories, but also the US with their oil consuming cars, it will be devastating if this will not come to an end. I am positive we will feel it.

[road to morocco]

Lol @ "significant minority," wtf makes it significant?
Most mining is done in China. "80 percent of [China's] electricity production come from coal" (http://www.chinafaqs.org/blog-posts/what-future-king-coal-china)

Being more than single digits in percentage terms is a rule of thumb for a valid significant minority. Extra-Sino mining is about 40%. Why you're quoting figures about how China's electricity sources break down I don't know, what I said depended on China using mostly fossil fuels for power and constituting 60% of the BTC mining market. You have proved precisely nothing.

>Extra-Sino mining is about 40% <==source?
>Being more than single digits in percentage terms <==source?

And those "Extra-Sino [sic & lol, dig the big brain on Carlton ] mines? They're mostly fossil fuels too

[Carlton Banks]

What has this place come to, even the trolls are low rent these days. Come back Franky, come back jonald fyookball, we miss you

[Evildrum]

Been a few energy source related threads talking about how power is to intensive and draining the grids.
The innovation is not lacking and I think we will be able to jump this hurdle as it comes closer. Musk has batteries that are going to change the whole system for good,its going to be a world changer!

[Yipdard]

Bitcoin is a big currency.

[Enotche]

The findings show that the more optimistic scenario, the increase in the consumption of electric energy Bitcoin network will increase from 350 MW to 417 MW. If the development goes a pessimistic way, by 2020 cryptocurrency network will spend about 14 GW Power.

We arranged so that it is difficult to assess any large-scale processes and compare them with each other. However, the world around us is something that people do every day. They buy iPads include dishwasher, leave your TV on so the cat was not alone when they are not home. And they Mein Bitcoins. And I'm quite difficult to find the cause for which they are doing all these foolish things and thoughtlessly wasted wasting the resources of our planet around the world, with all of this mass action is isolated and it is Bitcoin show a finger on it at him.

Besides, these days Bitcoin - is not the only model, which requires more and more energy. Peoples Daily use smartphones, tablets and other electronic devices that need to be regularly recharged. Electricity consumption is growing worldwide, and Bitcoin considered too energy-intensive - is to think limited.

PS
Do the same calculation for banks, as there is spent on maintenance of electricity infrastructure.
Bitcoin after that will seem "green technology"

[quentincole32]

Who cares? It's just an arbitrary comparison. Who's to say Mcdonald's doesn't consume more electricity worldwide than they use in Denmark? That's what makes bitcoin worth something. No miner is going to sell at a loss, or if they do they'll stop mining!!

selfish miners and people who keep consume big power or electricity will said that,dont care about anything they spent,but i'm sure many people care about this,and power resource should be can renewal,because we will not life forever,we have child in fuure who need use this power too.