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GuyTheGuy
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September 15, 2017, 04:30:54 AM
 #121

Isn't Bitcoin mining a waste of energy?



depends what coin you mine Wink

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September 15, 2017, 10:07:43 AM
 #122



Isn't Bitcoin mining a waste of energy?


Yes it is waste of energy but at the expense you also get money which is used for your daily needs, lavish lifestyle. So why this question is coming up now. It also costs energy to watch the TV and you don't get anything from it besides headache and pain in the eyes. Lols. I'm just focusing on the pros and cons and why does it matter if it costs energy. We are doing everything here at the expense of energy. So the question is not much debatable here and there is no output out of it.
No, bitcoin mining is not waste of energy.
Here are 9 good reasons which, taken together and in our opinion, completely justify the world’s admittedly high expenditure of electricity on the Bitcoin project:
1. Bitcoin is Backed by Electricity (and Ingenuity)
2. Mining is a Profitable and Promising Industry in a Slow Global Economy
3. Protection from Inflation and Avoidance of Capital Controls
4. Bitcoin Ultimately Requires Fewer Resources than the Fiat System
5. Mining Generates Subsidised Heat
6. Bitcoin Mining can support the IoT ( Internet of Things )
7. Denmark and Germany Occasionally Struggle with Excess Power
8. Mining Powers Bitcoin’s Tokenized Assets, Secondary Layers and Merge-Mined Coins
9. Mining Efficiency is Constantly Increasing
lokpalnaik
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September 17, 2017, 07:24:27 PM
 #123

No. I will say it in an another way. We will get energy by this. So get into deep for goldmine.

pendekar cinta
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September 21, 2017, 08:26:06 AM
 #124

Actually it can also be said that because we have to meet all the facilities and infrastructure in the process of performance but the most striking is the electricity bill payment rates that can reach 5 to 10 million per month. But all that can also be covered after the big profits later.

Mobshady24
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September 21, 2017, 09:11:36 AM
 #125

i think it everyone have different understanding of thread question. If you are talking about profitability and you are earning more than your utility fees, that not a waste of energy. But if you are talking about this energy literally yes everyone is just wasting on mining.

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SeanNGullett
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September 21, 2017, 10:55:18 AM
 #126

The goal is not extremely energy-friendly, it ensures that the Bitcoin network is always stable. If we want to go too far, not supercomputers are also waste electricity? We can also stop using electricity and stop industrialization. The energy we send more than we create it. Without any problem of power supply then it wont really be a waste of energy and you also get profits on mining that you can not see as wasted at all. thank you
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September 22, 2017, 06:00:43 PM
 #127

Isn't Bitcoin mining a waste of energy?



I guess It`s up to you which side you are looking at... All of us start on mining then you will earn and unitl you have more.. and If you want to earn more try to mine other coins as well, right now, I`m interested in RISE coin because of there User Friendly Decentralized Application Platform and Imagine being able to build your own decentralized application and Asset Tokens / Custom Coins on the RISE blockchain without needing to have the knowledge or skills of a developer..

So just stand to the right spot you will see the Benefits of Bitcoin!!
classics
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September 22, 2017, 10:00:55 PM
 #128

In a way it is yes. But there is no alternative, is it? Fiat money on paper notes is a waste of trees that are cut to make paper. Online banking and credit card payments also use electricity. So it's kind of inevitable.
malikusama
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September 23, 2017, 12:34:45 PM
 #129

May be it would seems just waste of energy through the eye of a person who is not involved in it and not getting any benefit through it. But for the miners and all bitcoin community it isn't like that. Well i also believe that electricity should be consumed wisely and we have to avoid any misuse and energy wastage but the reality is to get something you have to lose something. And it is not a bad deal at all to mine such a valuable thing by using some energy resources.



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September 23, 2017, 01:20:35 PM
 #130

asic-minerworld.com is the best shop for mining equipment in the Web. Nice prices, fast delivery. Awesome support.
thebanker28
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September 23, 2017, 01:26:11 PM
 #131

I didn't do the math myself, but I read a few months back Bitcoin miners use about 30 kWh per transaction.
My household lasts about 3 days with the electricity needed for 1 transaction. So yes, that's a lot.
When you say per transaction, are you saying per amount sent, per coin mined, per block mined. 30kwh is a lot - thats enough to drive a car for half a day.
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September 24, 2017, 06:58:00 AM
 #132

Isn't Bitcoin mining a waste of energy?


I haven't been tried or experienced mining so I cannot say exactly if it is a waste of energy. But if your bills is much more than what you earned through mining, then I can say it is such a waste of energy. But if your source of energy is renewable, like wind, hydro etc. and you aren't paying any bills because of that then it is a profit. So it is not a waste of energy no more. But I'm not attracted on mining, so I think I won't get involve on it. And even if it is a waste or not a waste, I'm not getting involve on it. So I won't have any problem.  Cheesy

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September 24, 2017, 10:29:18 AM
 #133

Really wasted energy when mining it? I don't think you're wasting energy just using an obsolete device or not properly.

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September 24, 2017, 12:28:58 PM
 #134

germany is going for over 30 euro cents/KW in 2018. Here you can only mine big expesive GREEN bitcoins
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September 24, 2017, 02:05:29 PM
 #135

Isn't Bitcoin mining a waste of energy?


No I don't think so, even though bitcoin mining is consuming a high amount of electricity still the amount you will get on mining is more greater than to your consumed. Yet, if you wanted to gain through mining and you don't want to increase your electric bills then you could try to have some alternative source of energy like solar panel or something.

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September 28, 2017, 01:09:30 PM
 #136

With the current difficulty for mining Ethereum and the price I have to pay for electricity, i make $1,50 per day. For that i use 10Kw each day, so yeah, in that case it seems like a waste.

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September 28, 2017, 02:27:20 PM
 #137

First....
There is NO energy in this Universe.....Electricity is NOT energy...

Now to answer the question..properly rephrased.

In 2012 when I first started mining bitcoins it was a HUGE waste of electricity and I did so KNOWING it was a HUGE waste of money...

And now? .... Cool Cool Cool Cool
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September 28, 2017, 05:49:10 PM
 #138

Isn't Bitcoin mining a waste of energy?



Doesn't really correlate with energy and it's waste. If you talking about the use of electricity then off course it is waste of energy as long as you are not paying the electricity bills. Otherwise we are completely fine with the nervy consumption. There is simple fact that mining uses electricity to run the hardware but why don't you understand that running your computer for gaming also makes use of same thing and the output is zero as well. Lols. I believe it's not really waste of energy everything needs energy.
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September 28, 2017, 06:56:14 PM
 #139

It can happen if the hardware that you are using is inefficient. It also wastes your money. Mining bitcoin is hard these days, there are many other ways that you can earn bitcoin. But the good thing is when you run your hardware, you can do other things and leave it as is while earning something.

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September 29, 2017, 03:27:40 AM
 #140


Depends in what regard you are saying this one. If you are saying that in general then this is waste of electricity because we are using it as energy form. But if you think that it's waste of energy in terms of eco friendly way then no I don't think so. There is difference between waste and consumption of energy. If I'm making the use of energy for something which gives me output then it's not waste. But I'm keeping the xyz machine on when I'm not using it or there is no output from it then that waste of energy. In case of mining it's not waste of energy for sure.


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