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Author Topic: Bitcoin Mining Power Growing Bigger But Greener  (Read 927 times)
RealBitcoin
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January 15, 2017, 08:54:30 PM
 #21


while people cry about bitcoins electric which is spread out across the world.

Because they are totalitarian communists disguised as green enviromentalists.

All they want is just a centralized global government with Orwellian powers.

http://www.naturalnews.com/051058_2030_Agenda_United_Nations_global_enslavement.html




think about the amount of lightbulbs and neon signs on the streets


They always want you to be preoccupied with the insignificant things , while yes there is a lot of electricity wasted elsewhere.

So people should stop attacking bitcoin, or get the fuck out of here, these anti bitcoin people are not welcome here.

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January 26, 2017, 02:17:24 PM
 #22

The Chinese miners do have the larger equipment, larger mining power, larger power consumption and yet has the greener and lesser cost per kW/h. It shouldn't be a matter of $ in the long run since you know, we burn too much fossil fuels to have electricity and we are here, trying make money out of burning something most of the time but hey, $ is more important than this world itself. But anyways, mining is becoming more and more efficient as we progress and look for greener ways to mine bitcoin and that is really, really good if you might ask me.

That is an interesting concept. I had some idea related green or, at least, greener equipment solution in the past, but I did not get much support related it. Maybe the trend is changing now, but in my experience people prefer the familiar solution over an innovative, but young technology. It is a kind of paradox since BTC is an innovative, alternative technology too but factors are changing when someone starts to look at BTC as a continous business instead of a long-term investment. Anyway, how are these Chineese miners "greener"? Never heard about this claim.

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January 26, 2017, 02:36:48 PM
 #23

So they are saying that Bitcoin mining is going to use as much as 30 to 35 TWh of electricity by 2020. That is unbelievable. It is more than 0.1% of the global electricity consumption and at $0.10 per Kwh, it is going to cost at least $2.5 billion.

So do the calculations yourself... $2.5 billion spent on just electricity to mine a total of 656,250 coins. That means that $3,800 in electricity alone is needed to mine just one Bitcoin in 2020. Either the exchange rates will increase by 10X, or the mining sector will collapse.
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