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Author Topic: Is bitcoin mining environmentally responsible?  (Read 3109 times)
astor
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April 18, 2013, 05:42:34 PM
 #61

Another thought, that often enters my mind, "What if by mining, at or above the cost of electricity, I'm just buying BTC at the cost of consumption?  Every other form of revenue has energy costs, why is media harshin' me?  Not trying to sound over-Libertarian posed, but I find myself hard-pressed to consider what my energy costs are, when driving to work and working on PCs anyways, as a systems analyst...

I don't think you should feel bad.  When bitcoin uses too much energy, a more energy efficient version like ppcoin will outcompete bitcoins.

You are helping advance technology and the energy issue will be solved.  It just might be that it won't be called bitcoin, but it will be crypto currency.
Signus
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April 18, 2013, 06:00:39 PM
 #62

Mining compared to 2 years ago is more "efficient" given that the amount of transistors we fit on a die doubles almost every 18 months, decreasing power usage.

Think of it this way, Quad Core processors upon initial release were running on 125W to 150W (if I remember correctly), and now Intel and AMD are averaging 75W to 95W for twice the power. Now GPU's, given the way that they are developed (and are the primary tool of the current miner), can practically double their transistor count and cut their power usage in half within this time period.

My point in mentioning this (if it wasn't mentioned before, sorry I skimmed) is that even though miners are HEAVY users of power, the efficiency of all hardware is increasing while the performance is increasing as well. Seeing as it is clean, it's environmentally "friendly" if you're not considering every outside source of power production (.i.e. oil, coal, natural gas, etc.).

For many of you, like myself, have no need to turn on the heat during the winter because of all of the hot air my rig blows out!
nabworth
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April 18, 2013, 06:02:15 PM
 #63

Wonder if the cost to mine a dollar's worth of bitcoin is cheaper than the cost of printing a dollar
astor
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April 18, 2013, 06:09:31 PM
 #64

Mining compared to 2 years ago is more "efficient" given that the amount of transistors we fit on a die doubles almost every 18 months, decreasing power usage.

Think of it this way, Quad Core processors upon initial release were running on 125W to 150W (if I remember correctly), and now Intel and AMD are averaging 75W to 95W for twice the power. Now GPU's, given the way that they are developed (and are the primary tool of the current miner), can practically double their transistor count and cut their power usage in half within this time period.

My point in mentioning this (if it wasn't mentioned before, sorry I skimmed) is that even though miners are HEAVY users of power, the efficiency of all hardware is increasing while the performance is increasing as well. Seeing as it is clean, it's environmentally "friendly" if you're not considering every outside source of power production (.i.e. oil, coal, natural gas, etc.).

For many of you, like myself, have no need to turn on the heat during the winter because of all of the hot air my rig blows out!

Of course, if you would otherwise use the excess heat produced by your rig, then the energy isn't wasted.   That might have been true for the last months, but not any longer  Grin

But stop thinking about the hashing efficiency.  It has zero effect on the energy usage of the hashing fleet.  When someone finds a way to mine more efficiently, others are forced to do so as well to avoid earning less, but that's the point of this competition.  The energy usage is the number of BTC created per day * USDBTC.
mmmd
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April 18, 2013, 06:25:29 PM
 #65

I'd really like to get solar panels, did anyone here get them just to mine?

Because I have to pay for electricity (not few), I definitely consider powering a not-too-consuming device partly or fully by solar panels.
onyoko
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April 18, 2013, 06:40:54 PM
 #66

No it is not and so is everything else in this world
Signus
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April 18, 2013, 07:56:03 PM
 #67

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But stop thinking about the hashing efficiency.  It has zero effect on the energy usage of the hashing fleet.

I understand efficiency does not have an effect on energy usage, however the hashing efficiency makes a gigantic difference on your profit margin which is where the power matters.

But overall I think mining isn't necessarily "environmentally friendly" given that the difficulty is rising quite rapidly and people are burning their cards for longer times to generate the same profit, or lack thereof.
daemondazz
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April 19, 2013, 01:59:08 AM
 #68

Of course, if you would otherwise use the excess heat produced by your rig, then the energy isn't wasted.   That might have been true for the last months, but not any longer  Grin

Speak for yourself, not everyone is in the northern hemisphere Smiley
(Today is the first day all year I've worn a jumper)

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loccothan
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April 19, 2013, 02:21:21 AM
 #69

i think if u have a eco computer its safe  Cool
FinShaggy
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April 19, 2013, 02:23:46 AM
 #70

So, is it not ok to have a computer on 24 hrs a day?

If everyone is thinking outside the box, there is a new box.
decentral (OP)
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April 20, 2013, 10:15:46 PM
 #71

So, is it not ok to have a computer on 24 hrs a day?
That's not really what I was trying to say. I was trying to look at the scenario where a typical person starts bitcoin mining. I know your average pc user doesn't have their PC turned on 24 hours per day but that may well become the case if they start mining.
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