Bitcoin consuming too much Electricity.

[johnlhy251]

Mining do consume a lot of power, so miners should absolutely consider renewable energy, particularly where it can save them money on the cost of electricity usage. If we want miners to use only renewable energy, then renewable energy need to be cheaper than every other forms of energy. The energy from the sun (solar) and the wind are more than enough for everyone. Some countries like Canada, if they invite bitcoin miners to their country, there shouldn't be a problem.

That's great idea, all miners will lessen the cost of electricity.

[betMaster]

Bitcoin is indeed draining lots of energy resources that our globe will certainly need especially that renewable energy isn't adopted worldwide and is present just in developed countries whereas the countries that have the hottest climax and sun rays are the most present doesn't even benefice from such technologies . Bitcoin mining gets way harder after each block thus more electricity spent , and this could endanger the humain race itself .

[stevemichael]

Yes , you are right bitcoin consumes too much electricity.
If this will last longer it causes drastic effect on future.
I personally suggest to go with the green energy like solar,wind and water etc.

[Danglen1010]

Since it is operate through technology, I  think they consume too much electricity but since we are high-tech world they can consider solar, wind or water energy as alternative source of electricity.

[Maxson]

Bitcoin's electricity consumption has been very high compared to conventional digital payment methods.This is because the dollar price of Bitcoin is directly proportional to the amount of electricity that can profitably be used to mine it. As the price rises, miners add more computing power to chase new Bitcoins and transaction fees, any way i will say it is impossible to know exactly how much electricity the Bitcoin network uses.

[khendjer]

In order to say that Bitcoin uses too much electricity first of all we need to define that "too much" amount. Who can define it precisely, probably no one because it can be as too much as good as too small at the same time depending on what to compare that amount with. People usually compare Bitcoin's electricity consumption with electricity consumption of some countries. Why don't compare it with electricity and resource consumption of something that is more similar to Bitcoin by it's purpose like electricity and resource consumption of the whole banking system of the world. I don't think that Bitcoin maintenance cost will still seem too much in such a comparison. It will look tiny.

[Kaan53]

I think you are telling the truth but it is absolutely disrespectful.

[WNbahr]

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

indeed electricity is a source of energy that is quite a risk to the environment, a consequence that must be accepted when the excessive use of electricity will have a negative impact on the environment. solar panels and turbine power is the best alternative and solution for pana users and miner bitcoin, because the system works to minimize the negative impact of mining, it is friendly to the surrounding environment while saving the cost of electricity payment.
but in realization requires individual awareness so that all mining activities of the source switch to the source of solar and turbine power, this needs to be facilitated and cooperation with private parties and government.

[7788bitcoin]

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

If am not wrong,most of the big miners in China are using renewable energy sources for their mining rigs,sure mining is a heavy duty process which consumes a lot of energy and to be frank that is a good thing as it is not cheap to mine a bitcoin and hence it is more worthy to tell that it does cost more to mine a coin than to print fiat currency .

[Scripture]

Mining requires high powered tools and equipments to operate. Theres too much electricity to produce and generated. A renewable energy is a good idea for the environment but i think thats hard to produce given the fact that most miners arent a big company and producing a renewable energy resource like solar panel is hard and cant support the power alone.

[zolfa]

yes, to reduce the supply of electricity, using solar panels better and also more efficient. but I do not think it will work. because the mining system must continue to work. morning, afternoon, and evening.
the solution, maybe using other sources, such as garbage power can help for mining as well. that can work everytime and also the cost more cheap.

[Justin Dowman]

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

In order to talk about the large consumption of electricity, we need figures on the consumption of similar systems. For example, the banking system.

[BlasterS]

I think all business establishment consumed electricity also and it is one of the vital sources needed.
Bitcoin maybe consume too much electricity and I don’t see any problem from that since they pay for all utilities they have so what is the issue?

[Bitcoinislifer09]

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

Yes,bitcoin consuming too much electricity because bitcoin users using computers,cellphone or all gadgets that needing electricty.Especially now many people know this kind of cryptocurrency that is very legit so that they will try to join or enter bitcoin world that will cause too much electricity. Even though bitcoin is consuming too much electricity many people can pay their electric bill that comes from their earnings in bitcoin also.

[KingOfWinterfell01]

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

I agree. Miners should go green and invest on solar panels and a powerfuk enough battery to store all the solar energy. But plotting a solar panel board on one's house is not that simple due to the complexity of the circuit, capacity of the battery, and the environment to which you are located on.

[jonosutio]

which does not make sense to think about, because the most spent electrical energy was washing machine in my opinion. if the bitcoin mining does not consume a lot of electrical energy because the bitcoin is like a light on at home. if you spend a lot of electrical energy why energy is not exhausted?

[laravuemaster]

I think miners should start invest on renewable energy source (solar panels, wind turbines) to lessen the impact of bitcoin on environment?

Building a mining rig is really profitable if the electricity consumption in your area is just small, renewable energy is not always available to all the country so the best thing to do is try to research about the current hardware that you are planning before you purchase and compute the voltage in order to get the highest profit you can get monthly.

[pilitusanelidus]

I agree with topic starte but I doubt that miners wil voluntarelly donate money for saving the environment, it must be a governmental policy. And that would be one of those cases when states do something good in a sphere of crypto 

[ChConcept]

I agree, I think renewable resource like solar panel is the best source of power  if you are going to mine Bitcoins since it is consuming too much electricity. Good investment in the long run.

[mrcash02]

Stupid idea. Do you know how much electricity data centers use ? Yeah Google is trying to do something with renewable power but that does not mean anything. You don't complain going on Facebook or Youtube and enjoying yourself, so I guess their data centers don't consume any electricity ? Don't be naive. Everyone here is looking for profit. If it's more profitable to pay for electricity rather than produce it everyone will do so.

At least they are doing something and not just depending and counting what their income is. If these companies can then why not the miners. I am not saying that because they only get a portion compared to other data centres they should not do anything.

They can be trying to do something about it, and yes, it's good, but to feed large mining farms or even data centers of these companies they need more than renewable energy to make it worthful and productive these days. I was thinking about a little mining farm making use only of solar panels and wind turbines and seems it's not possible. It's inviable. Renewable technology must become more improved yet to see some real chances of this happening.

To go "full green" now is just an ambientalist dream that will lead humanity to stagnation or olden ages...