Bitcoins electricity required AMAZING!!!

[ledu_ico]

Just read an article that Bitcoin transactions use so much energy that the electricity used for a single trade could power a home for almost a whole month. Not only does Bitcoin use a vast amount of electricity to complete transactions, it uses an almost exponentially larger amount than more traditional forms of electronic payment.

Can someone confirm this? It just is AMAZING info for me... i can't believe it, while stats show the contrary.

This number needs some context. 200kWh is enough to run over 200 washing cycles. In fact, it's enough to run my entire home over four weeks, which consumes about 45 kWh per week costing €39 of electricity

[odolvlobo]

Come back after you have figured out how much electricity all the banks in the world use, and how much we would save by replacing them with Bitcoin.

[Mandoy]

Just read an article that Bitcoin transactions use so much energy that the electricity used for a single trade could power a home for almost a whole month. Not only does Bitcoin use a vast amount of electricity to complete transactions, it uses an almost exponentially larger amount than more traditional forms of electronic payment.

Can someone confirm this? It just is AMAZING info for me... i can't believe it, while stats show the contrary.

This number needs some context. 200kWh is enough to run over 200 washing cycles. In fact, it's enough to run my entire home over four weeks, which consumes about 45 kWh per week costing €39 of electricity

If you are looking for something valuable of course the price is high. If for example you will mine diamonds or gold you will need to avail of multi-millions of equipments plus thousands of kilowatts to run the operation. But the end product is  a very valuable item, a precious jewel that is very expensive. It is the same with bitcoin the more bitcoin becomes valuable the more difficult it is to mine since the competition of hashpower increases.

[ALT67890]

Bitcoin transaction and searching in internet has servers that needs huge power supply to operate and that includes banking transaction as well. So what ever your point is not shocking for others. Because we already knows that.

Come back after you have figured out how much electricity all the banks in the world use, and how much we would save by replacing them with Bitcoin.

That is totally right, it won’t be good when looking for just one side of the story. Maybe to ask about banking transaction is the correct way on answering such questioning.

[wilwxk]

I agrre with you. The electricity its very "wasted" in the miners farms, there will have peoples wich says to see the electricity usage of banks, but look: the asiics used to mine bitcoins only makes a lot of calcules to find a hash with X zeros in the front, imagine where this energy power could be used in other areas like AI or supercomputers. This zeros can be performed.

[Eternu]

I can not confirm what you have read, but I know that mining require a lot of electricity. Some of that power goes to transactions as far as i know. But from what I have read here in your topic, those numbers are insane, and I don't believe that. I think that is only bad propaganda to lower support toward bitcoin. But because I can not confirm with solid evidence, that leaves it to only my opinion. But still 200kWh for one transaction... its too much.

[G2z_Riya]

I'm not sure about the reality, but I too came across such information. Right now electricity is becoming a major threat for the growth of bitcoin, because the mining process is completely dependent on the electricity. If something goes wrong the entire system will collapse.

[Kiiti1]

Its really expensive