How much electricity does bitcoin need?

[esatceza]

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

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[Abigail Asi]

Well I don't actually know the energy consumption it takes but I know that mining bitcoin consumes much energy.

[Marlo Stanfield]

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

There are massive, massive mining farms(mostly in China) using huge amounts of electricity. Some are set up directly beside hydroelectric power stations even.

[Kapyong]

One single bitcoin transaction requires as much electricity as the average Dutch household uses in a month.

What rubbish !

One transaction costs a few CENTS only.

Kapyong

[Kapyong]

Gday aundroid

The following table shows the evironmental costs of bitcoin mining compared with other systems.


Only the energy consumption was considered in this study, so things like producing gold mining machinery, storing and transporting, constructing about 600,000 bank branches etc. were excluded

Undoubtedly bitcoin mining consumes less energy than the other systems like gold mining, banknotes, coins and the banking system

Wow !
Accurate and relevant facts clearly expressed.
Fantastic Wish there was more of it here.


Kapyong

[bitllionaire]

I do not think so. I think the amount of money we earn from Bitcoin is many times the amount we pay for electricity. Besides, today there are many ways to help us create electricity. So, I think not too significant when using electricity for Bitcoin

I myself never think about it that how much electricity is needy by bitcoin, i am using it as  normal and i never even feel any extra electricity that bitcoin may be using. To me i am no doubt getting a good profit from bitcoin, therefore i will even continue using bitcoin it it require a some extra electricity. Because i even want to continue getting profit from bitcoin.

[kkukkugaga]

I don't think btc uses so much electricity. Aside from the gadgets and other devices use for transactions, it looks like it doesn't consume that much electricity. Besides, we only don't depend to the main source of electricity, since there are other renewable resources that is now used for electricity consumption. In my opinion, it's a bit difficult to compute the consumption because of the vast number of users and investors btc have right now.

[Googlegenius]

Though bitcoin mining requires energy but I really don't think this expense can be so much like 80% of the total energy. It costs much electricity but that doesn't mean it will be such big amount.

In theory it's possible if it really took over the world in some form. 80% is probably pretty unrealistic though unless everything else became super low energy(which probably won't happen).

At this moment its realy exoensive to mine bitcoin due to the cost of electricity and the profitablity is very low.

[Thecryptocurrency09]

Who owns the reliable information that the network bitcoin uses more than 80% of the countries separately electricity. Bitcoin also multiplied by several times the amount of energy consumed in the last year. Is this really true, who will say? So there are thoughts that bitcoin in a couple of years will be a threat to the energy situation on the planet?

Using bitcoin really does need the use of electricity. This is just like e ordinary consumption that we are using with the medium in bitcoin. This may only differ depending on the user itself if he or she will choose to use it all day or all night. Therefore, there is no discrepancies in using bitcoin with other applications.

[maneka]

Bitcoin needs a lot of power so you can maintain it, it's pretty high

[Siren]

We can estimate the energy consumption, based on the complexity of bitcoin. Complexity is the value calculated by the protocol and attached to each block. Complexity measures the average number of hashes left by the miner to search for one real block.

I think that to calculate how much the entire network uses bitcoin and compare with the amount of energy that a particular country uses can only be done with special skills in the field of electricity

Even though how skilled the person is,still no one can calculate the usages of bitcoins electricity the whole world.and besides i believe that what you have said in the OP above wasnt the right volume of whats the true electricity needed,you should have drop some links on where did you get that idea

Bitcoin needs a lot of power so you can maintain it, it's pretty high

What maintaining youre talking about?you noob speaks when you really have idea abiut the topic but if not stop talking as if there's an understanding about issue

[CCF_news]

Most of the most large bitcoin miners will soon start using green energy for mining and the amount of energy consumed will not be a big problem.

[lioata]

Bitcoin needs a lot of electricity, it will remain strong, electricity is the main source of energy for it to sustain everything

[19nataliya12]

Bitmain - the manufacturer of equipment for bitcoin mining, is located in Beijing and Shenzhen. This company produces about 70% of the bitcoin-miners in the world on the basis of Taiwanese microchips TSCM.
The latest model of the Bitmain-S9 miner uses 19 nm microchips. Their performance is 4 TX / s (14x10 ^ 12) with an energy consumption of 1372 watts.

[patron bounty]

I think not, 80% is a huge amount for electricity use in a country. And not all bitcoiner in all countries do mining, although there may be little and it is only small mining.
If the use of electricity by bitcoin miners compared to the amount of electricity used by large companies and the use of electricity by government buildings, I do not think it would be worth it. Bitcoin miners use only a small part and some even use alternative power so they can reduce their electricity bills but people always exaggerate, because bitcoin mining is a source of global damage.

[hongthoa498156@gmail.com]

The amount of electricity required for digging the bitcoin is really too big. The digging machines operate 24/24 continuously causing electricity consumption is huge. This is worrisome with global energy

[Gurjasmeet]

I think it is a complicated question.most of work  done on computers & cellphone who are very small part of electricity consumed.but on mining projects consumed large scale. so it can not judge how much electricity required for.

[RawDog]

Forget about the electricity - just think who has to pay for that. 

Everyday the entire community sends truckloads of cash to electricity providers.  Money going out of our network is a reduction in value.  In effect, Bitcoin network does nothing at all to increase its value, but spends shitloads of money on power.  Perceived value of bitcoin might rise, but bitcoin attracts no revenue at all.  So, with all the outgoing money and no incoming money, bitcoin is one of the most efficient loss making machines ever known to man.  Only when people catch on to this will it end.  And it will end horribly. 

You can't keep paying out - with nothing coming in.  That finally ends.  This is why Ethereum is going to proof of stake soon.  Bitcoin is fucked - completely fucked.  But fortunately bitcoin has a lot of very dumb people who keep sending in more money because they think they are going to get rich. 


Hahahahahahahahahaha!!!!  That is so damn funny. 

[Indamuck]

This negativity about bitcoin's energy use is unwarranted.  The banking and credit card system use much more electricity.  If you factor in the buildings, employees, printing machines, computers, etc it is a much higher total cost than the btc network.

[Dreamchaser21]

I think it is a complicated question.most of work  done on computers & cellphone who are very small part of electricity consumed.but on mining projects consumed large scale. so it can not judge how much electricity required for.

Yep, it cannot be measured easily but if you have mining rig you can know the cost of mining bitcoin by just looking at your electric bill. The cost is getting higher and this is why some ICO’s are focus on the renewable energy and hope they can succeed that project.