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Author Topic: waste of energy  (Read 21070 times)
blacksheep1527
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September 29, 2017, 04:17:32 AM
 #141

A lot of things requires energy and Bitcoin mining is not a waste of energy. Its mining efficiency is constantly improving which means less power is used to provide more cryptographic security.
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September 29, 2017, 04:37:30 AM
 #142

It depends on how you think, because I think when using electricity without getting benefits that's a waste of energy, by mining we get income so I think not waste of energy.

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September 29, 2017, 08:32:21 PM
 #143

It depends on how you think, because I think when using electricity without getting benefits that's a waste of energy, by mining we get income so I think not waste of energy.
Well if somebody thinks that mining is a waste of energy then keep it in mind that watching tv is also a waste of energy because it not giving you anything in return. But mining gives you much that you can easily pay your bills. So that’s totally insane when someone says that mining is waste of energy.

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September 30, 2017, 12:52:22 AM
 #144

Isn't Bitcoin mining a waste of energy?



Yes, bitcoin mining is a waste of energy, all devices that used electricity are waste of energy. also your body when you are moving or do a lot of activity, you wasting your energy but with a cause. like mining in bitcoin, even mining bitcoin is waste of energy but in a cause, because we people dont waste time,energy without a cause. even you said that is wasting energy fpr bitcoin, but it came back more profitable for you.

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September 30, 2017, 02:18:35 AM
 #145

It depends on how you think, because I think when using electricity without getting benefits that's a waste of energy, by mining we get income so I think not waste of energy.
Well if somebody thinks that mining is a waste of energy then keep it in mind that watching tv is also a waste of energy because it not giving you anything in return. But mining gives you much that you can easily pay your bills. So that’s totally insane when someone says that mining is waste of energy.
actually this is only necessary to see if the mining that we make has more advantage if we calculate with electric bill,
if after calculating electricity bills and income from mining we still benefit, so there we do not waste energy but we get the advantage of the mining that we make.
It is very easy to calculate the advantages of mining

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September 30, 2017, 05:26:09 AM
 #146

It depends on how you think, because I think when using electricity without getting benefits that's a waste of energy, by mining we get income so I think not waste of energy.
Well if somebody thinks that mining is a waste of energy then keep it in mind that watching tv is also a waste of energy because it not giving you anything in return. But mining gives you much that you can easily pay your bills. So that’s totally insane when someone says that mining is waste of energy.
actually this is only necessary to see if the mining that we make has more advantage if we calculate with electric bill,
if after calculating electricity bills and income from mining we still benefit, so there we do not waste energy but we get the advantage of the mining that we make.
It is very easy to calculate the advantages of mining

Yeah correct it not a waste of energy you, but your event you will gain from it. It will use full one for getting more profit it help to your future life and it get more gain and you will get the more information it. You will act in the bitcoin you will can join for it. It will give more information for the business, how to improve it. So it's not a waste of energy it, but way to get the profit.

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September 30, 2017, 05:57:06 AM
 #147

It depends on how you think, because I think when using electricity without getting benefits that's a waste of energy, by mining we get income so I think not waste of energy.

I too think this that if we are getting the output with the required electricity and gets the profits or money from it which can be used in so many ways and also help people to live their livelihood.  Instead one should be careful not leaving electricity on when nobody is there which is actually a total waste of energy.

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September 30, 2017, 09:52:09 AM
 #148

Yes, it's waste of energy, but everything which profitable in this world require a lot of energy from people or-and machines.
In bitcoin environment, miners and mining hardware are required in order to verify every transaction that has broadcast to the network, the founder has setting it that way and become the nature of bitcoin, What miners basically do is bundling all unconfirmed transaction into a block. The form of the block must satisfy certain conditions before the block is considered valid. This condition is called proof of work https://en.bitcoin.it/wiki/Proof_of_work Even we are as humans who wants to live need energy to do it, so does bitcoin network.

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September 30, 2017, 01:50:07 PM
 #149

Waste of energy? Seriously? Is your typing on this thread a waste of space? That question should answer your question.

What a way to put down in the another style which answered the query in a brilliant way. I like the way you have answered it.

OP - Why do you think its a waste of electricity because just consider even printing the $ notes require electricity is it a waste ? Well mining yield bitcoin and it could be used and alternate to the dollar in making payment digitally.
Honestly, it is a brilliant way to pose an answer in a form of a question back to someone and it really got me laughing.

I am pretty sure even the OP himself has no understanding of what he was saying. Even if you are to mine gold, will it not require energy from machines and labor ?

If bitcoin were cheaper to mine, will it even have any serious value today since everyone will just quickly rush into it apparently. He should wait until the difficulty level even increases the more, then he will know this is even just the beginning. NOTHING GOOD COMES EASY (this one is even easier as far as I am concerned).


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October 01, 2017, 07:05:44 AM
 #150

First, the eco-conscious seek to generally diminish global power consumption. Given that electricity is, at present, primarily generated through unsustainable methods, eco-activists hold that all energy expenditures must be critically weighed against their (debatable) contribution to climate change. Secondly, there are those dubious economists who doubt Bitcoin’s viability. This group is best exemplified by Paul Krugman, who argues that Bitcoin (and to a lesser extent, gold) has no real value to society and so represents a waste of resources and labour.
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October 01, 2017, 04:34:12 PM
 #151

I spoke with Al Gore about this and he said it's causing global warming.

It's a waste of energy if you are one of those people who don't have bitcoin.   Energy is consumed for all kinds of reasons and there will be those who claim any of them is a waste of energy.

I see it a a very good use of energy.  A free market way of preserving capital, a protection from inflation.   How can that be a waste of energy.  The Fed is using energy to fuel computing power to run differential equations to test economic models which will tell them how to confiscate wealth by creating the maximum inflation possible.  No that is a waste of energy.   The success of bitcoin will conserve energy in the long run by slowing down the giant central banking monsters who's super computers are eating everything.
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October 01, 2017, 04:37:30 PM
 #152

....................Paul Krugman, who argues that Bitcoin (and to a lesser extent, gold) has no real value to society and so represents a waste of resources and labour.

Krugman,  he uses more energy running the Feds central printing presses then bitcoin ever will.   The value of a Noble Prize is now worth less money then the fiat paper Krugman suggests we print.
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October 03, 2017, 04:59:57 AM
 #153

....................Paul Krugman, who argues that Bitcoin (and to a lesser extent, gold) has no real value to society and so represents a waste of resources and labour.

Krugman,  he uses more energy running the Feds central printing presses then bitcoin ever will.   The value of a Noble Prize is now worth less money then the fiat paper Krugman suggests we print.


It's not a waste of energy it is use full for the internet process and count all people. You put an effect you will get more income and more information. If use the energy you get the process and develop the mining, but you not the reading for the count every day it is given more information and how well its process.


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October 03, 2017, 09:08:55 AM
 #154

It is not a waste of energy if you know what you do, then you have some extra coins

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October 03, 2017, 10:37:26 AM
 #155

Isn't Bitcoin mining a waste of energy?



Bitcoin mining I will say isn't a waste of time depending on the Miner you choose and also the fees involved. This is also a means of earning more bitcoins and you should know that there are different levels of earners all over the world in terms of volume/quantity generated. So, waste of energy can also be seen as relative.

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October 03, 2017, 12:01:34 PM
 #156

right .. but that's proportional to your income. for large-scale energy is needed in mined bitcoin. so you get a big profit. although the cost for mining is very expensive but it is effective to produce bitcoin.

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October 03, 2017, 04:02:35 PM
 #157

No not at all.

If something new can be created that has a value. then energy is not wasted.

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October 03, 2017, 05:00:26 PM
 #158

No not at all.

If something new can be created that has a value. then energy is not wasted.

Facebook and other social media is rather a waste of energy. haha. You cant make money on those things while on mining we cant able to say that it is a waste of energy as long we are profitable on it and also regarding on the energy consumption i think its just right as long we do legally pay up on to those electricity company without doing something illegal then it should be fine.

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October 03, 2017, 05:01:17 PM
 #159

Isn't Bitcoin mining a waste of energy?



Hi! Yes, you may deem it so. But looking on another perspective will make you ponder harder a little bit more. It is more like tilting the head that is geared towards the other end. On my experience, I can say it really does costs a lot of wasted energy considering the amount of time needed to finish what has started. Also, added to another consideration is the number of Bitcoins that have to be mined 24 hours a day, seven days a week. So there, you can say it is bad for the environment but good for the economy. Likewise, you can also say it is bad for the environment therefore it is also bad for the economy. Anyway it goes both ways since one affects the other.  

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October 03, 2017, 06:13:29 PM
 #160

No not at all.

If something new can be created that has a value. then energy is not wasted.

Facebook and other social media is rather a waste of energy. haha. You cant make money on those things while on mining we cant able to say that it is a waste of energy as long we are profitable on it and also regarding on the energy consumption i think its just right as long we do legally pay up on to those electricity company without doing something illegal then it should be fine.
which is correct as long as we are paying properly and everything still in place and nothing has been wasted, mining is one those ways
that we can do in order to generate profits so learning the concepts will allow us to earned.

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