Energy consumption will become an issue if bitcoin really breaks through

[Twentyonepaylots]

I think it will still depend on the value of bitcoin. If bitcoin price is much higher than the cost of energy it consumed to be mined, for sure miners would definitely find a resolution to their major resource.

Practically speaking miners can't get high profit due to electricity consumption issue especially individual miners who only got a single computer even 2 of it to mine. I've been seeing a lot of posts saying that they quitted mining due to high high maintenance in electricity bills. I have also read that electricity consumption is one of the reasons why China has been very bad at miners on their country tackling about e-waste it produce that could've been used in other ways. The resolution for this? Find a country that has a low electricity rates to maximize the profit in mining.

[The Sceptical Chymist]

Six years after the OP it's quite interesting to revisit the argument:

The OP still holds IMO. Empirical facts have proven the theory.

You might want to start a new thread on it, though.  I'm not sure if all these posts will get deleted because of a necrobump.

You're right, however.  It still is a relevant discussion, although I have to plead ignorance as to how much of an environmental impact bitcoin mining has.  People didn't think burning coal harmed anything many years ago, and now we're paying for it--and all these gas-powered cars, too.

I've gotten into PoS coins somewhat, although bitcoin is my first love in crypto.  At least with PoS, you can help secure the blockchain without having to mine, and it definitely uses less electricity and has got to be better for the environment.  But I'm not sure what to believe these days.

[aamirsuh]

Renewable energy needs to generate electricity. Electricity is important to continue Bitcoin production. A lot of energy is being used to produce bitcoin. In this case, positive thoughts about the future are shaken. For miners, the price just doesn't matter. Production costs are very diverse.

[kotik085]

Energy consumption, in that mining bitcoin today takes a lot of energy, this certainly affects the financial condition.