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Gintama214
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August 18, 2017, 01:43:21 PM
 #21

Isn't Bitcoin mining a waste of energy?




There are a lot of things that are waste of energy, especially in your house when you sometimes forget to turn of you electronics and or your house appliances such as like, your house light, TV, lamp, Fan, and other many stuffs that you always forget to turn it off but in mining is different for me because when you are mining you are earning. It depends on how you are mining but its at least you are earning than nothing unlike your TV its wasting you energy/electricity but your and your not earning anything. As for mining you are earning little by little, as long as your earning something nothing is wrong with that and its not a waste.


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August 18, 2017, 04:14:32 PM
 #22

Isn't Bitcoin mining a waste of energy?


If you think like that then why are you alive today? . Everything is definitely worth it, as bitcoin currently has a high selling point in the market share. The money we get certainly can cover the operational costs and we get a big profit. If what you mean is about the energy that counts in vain then you should be a person who uses natural energy, such as solar energy and wind energy. It will reduce a lot of wasted energy. But have you downsized and also can state that you are a person who does not waste energy? . You should think about it.  Wink

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August 18, 2017, 05:06:22 PM
 #23

I don't think so, bitcoin is not like gold or silver but it still worth a lot of money.

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August 18, 2017, 06:08:03 PM
 #24

Isn't Bitcoin mining a waste of energy?



Well op, inreally don't know why you posted that complete waste of energy post. But i think it's because of all the things that  you have heard from other people saying that mining is not as profitable anymore today than the past few years or as you say "a waste of energy". But let me tell you this; every bitcoiner is essential to what bitcoin is today. Keep that in mind. And if you take into consideration those people who have free electricity and have a lot pf space and money to spend, mining is a pretty much profitable choice. And can really give you sure profit, rather than trading or investing on things you don't even know much about..

But hey, it is a good thing that someone asked this question so that people can read and know. A curious mind is a smart mind Smiley
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August 18, 2017, 07:16:05 PM
 #25

If u mine with a old stuff yes it is wasting the time and energy. But everything what u doing wrong it is wasting the time.
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August 18, 2017, 07:42:28 PM
 #26

Dude, if everyone looked at mining BTC as a waste of energy, we wouldn't have BTC.

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August 18, 2017, 08:22:27 PM
 #27

It is not a waste of energy if you see it as in your outline view. Some of the people worry non efficient graphics card and miner is being used for mining the bitcoin or altcoins. If you are more concern about energy, please switch to solar miner to save of cost of electricity and wasting of electric power.


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August 19, 2017, 04:15:12 AM
 #28

Isn't Bitcoin mining a waste of energy?


I think mining only wastes energy only for personal gain even if we pay but still we have to start reducing the use of electrical energy.
Unless you use your own solar panels.
I am not prohibiting mining, just try to understand it

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August 19, 2017, 04:19:09 AM
 #29

Isn't Bitcoin mining a waste of energy?
I don't think so. The energy is not being used just to solve puzzles, it's being used to process transactions and keep the network safe by preventing attacks.
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August 19, 2017, 06:25:41 AM
 #30

That's a very good point but it's a necessity for the concept of Bitcoin. Yes, mining is a complete waste of resources as it doesn't do anything but generate a digital blockchain for a currency that could be created using other means. Eventually wasting so much electricity will be an issue and one of the downfalls of BTC, but if we take the right steps to protect the environment then it can be justified.
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August 19, 2017, 08:32:25 AM
 #31

Dude, if everyone looked at mining BTC as a waste of energy, we wouldn't have BTC.
This is a great, short answer.

If we are using electricity to create something it's not a waste. When you are baking a cake in your electric oven, is it a waste of energy? Big ovens in the restaurants use much more power than mining rigs and there's more restaurants in the world than Bitcoin mines!
Do you know what wastes the most electricity in the world? Your electronics on standby! How many things at your house are always on? I have electronic clocks, microwave, even stuff like climate controllers, security cameras. If I turned it all off I could run a miner and profit Wink


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August 19, 2017, 10:20:47 AM
 #32

No if you are making a new value. So you have electricity as your raw material + mining rig as the machine that works with that raw material and whoa-la you get altcoins(BTC) as a new product. You can take this example to any production and would that be a waste of electricity?

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August 19, 2017, 12:18:10 PM
 #33

I think everything is still balanced if you recall our beloved science slogan, "energy can not be created nor destroyed but it can only be transferred from one form to another"


So basically you are using electricity to run the miners which in turn producing large amount of heat energy and well some bitcoin for you.


Thus is normal cycle of every product that we produce on the earth. Whether its car, or high end satellite or your miners, everything will need energy and everything is converted to different energies.


Have you stopped using light bulb ? Then why caring so much about miner!


.

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August 19, 2017, 12:26:44 PM
 #34

Nothing in this world can be tagged as "waste" unless it is actually being wasted without getting anything but if you are capable of producing something with it, which miners are already getting as rewards in the form of Bitcoins by ^utilizing^ the electricity, I don't think there is any such need for us to think more on this. They are giving something to get something and that's how it all works in the real world as well.

   
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August 19, 2017, 12:28:10 PM
 #35

Isn't Bitcoin mining a waste of energy?



It depends in what country you live, mining can give big profits.

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August 19, 2017, 01:09:08 PM
 #36

The energy is nothing compared with the benefit it brought with
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August 19, 2017, 04:23:38 PM
 #37

Everything humans do could be considered a waste of energy, think about all the steps and energy to get materials to build a car, build a factory then build the cars, ship the cars, keep cars running w spare parts, oil production, gas production and distribution. Roads, gas stations, heavy equipment, man hours...  omg this is depressing.
 
Then you have mining for coal, or natural gas or better yet nuclear in pretty efficient power plants sending power over a wire, into a board made in a pretty efficient high tech mfg facility, that makes heat and processes trade transactions rather then material metal coins or toxic paper thats all hard to track or maintain and store.

Honestly Id say blockchain trade digital systems are pretty damn efficient. Guess there is still a lot of innovation into the algorithms and code so they run with less computing power that could be done.

There is alot of innovation in making your system more efficient which can be fun. Solar panels might be fun but your funding panel companies and battery companies, alot of upfront cost and materials.  You can get rid of your heat into your yard with a geothermal loop and water cooled like systems. 55F or 12c underground so loop cheap tube and have a dissipation system so your not using so much power or energy indoors with air condition system and not be dependent on outside air temp for natural air dissipation and cooler air circulation. Maybe underground server rack cellar is a good idea. You could also use a hyper efficient perm mag motor turbine gas generator that runs off lower cost natural gas to generate your power on location.

Just the foot print of eating everyday and being alive is a waste? haha but hopefully your a benefit to society, enjoy planet earth and take care of her... and maybe your fun to be around Cheesy

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August 19, 2017, 04:44:54 PM
 #38

Its the backbone of BTC and other PoW coins so it's worth it. It's the early stages of development. New coins will be developed that don't use as much energy to run the system once the technology goes further.

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August 19, 2017, 09:33:04 PM
 #39

What about all those wasted oil that leaks from tankers to the water? People are wasting money to build oil rigs, drill the sea bed, pump oil out, transport it on tankers to the mainland and then contain leaks and clean the water. All this so your idiot neighbor can rev his car and burn rubber.
Mining is not a waste when you see the big picture.

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August 19, 2017, 10:46:03 PM
 #40

Isn't Bitcoin mining a waste of energy?


  No.
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