How much electricity does bitcoin need?

[cryptoalfs76]

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?

Actually this topics ,we could not identify the exact electricity network bitcoin needs totally using in electricity,maybe this 80% that you stated is only speculation and we could not find the exact amount of electricity that bitcoin mining consumed,because its all depends of the country where should its belong,because every country have a different  meters readings of electricity consumable amount.

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[creeps]

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.

Electricity may become a big problem of the world in the future but I stil believe we have enough resources to sustain our level of electricity. The cost is quiet lower for bitcoin compare to the usage of bigger buildings, but if the cost continues to increase for sure we, the investors will be the one to shoulder that cost so bitcoin can stay alive.

[Alkhalifi69]

I also do not really know about the news yet, but if we think bitcoin miners always need a lot of electrical energy.
an example, if you have a bitcoin miner tool each of these tools one tool requires 30% energy if you have 2 tools then you will spend 60% every day and that in my opinion will continue to affect the amount of energy in the world this.

[Heidim]

According to Forbes in January 2018 : If you run an Antminer 24/7 for a year it will produce about 0.85 bitcoins, at a cost of about 15,000 kilowatt hours. Depending on your power prices it will cost anywhere from $600 (at 3 cents per Kwh) to $1,800 (at 9 cents per Kwh) to mine one coin. Even with bitcoin having plunged to $11,600 this morning, there’s still money to be made, assuming you can get your machines cheap enough.

How true this is idk, I've never mined Bitcoin

[Jet Cash]

What an extraordinary thread, we even have one guy computing mining power requirements based on 8 graphics cards.

I believe that as Bitcoin becomes more mainstream, the single function miner will become a thing of the past, and mining processors will be added to a variety products to utilise spare electrical capacity, Room heaters, and hydro-carbon transport are two examples. I started a thread about this in the ivory tower a short while ago ( before I saw this thread ).

[Joyawan13]

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?

Actually this topics ,we could not identify the exact electricity network bitcoin needs totally using in electricity,maybe this 80% that you stated is only speculation and we could not find the exact amount of electricity that bitcoin mining consumed,because its all depends of the country where should its belong,because every country have a different  meters readings of electricity consumable amount.

yes, in every country must have different power requirements, and bitcoin should not be an excuse to affect the power of electricity in this world, and besides bitcoin there are still many others who need more electrical power, and I'm sure everyone will think that with the bitcoin of course people will be able to think to be able to make its own electric power, because people out there will think about their mining so it will not be too big electricity to use.

[Rexat]

Yes, bitcoin mining activity is one that consumes a lot of electricity. But I think, electricity is not a thing that can run out like petroleum, so I think it will be safe.

[gonlavy]

You know, Where there is problem, there is solution. If today that is a problem then tomorrow it will might be solved. Yes I know that Bitcoin needs more energy, so renewable energy sources are there to solve this.

[cryptofeel]

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?

Actually, the amount of energy required to mine bitcoin varies from process to process. the higher the power of the antminer, GPUs and the faster the Internet connection, the cheaper relatively the cost of mining bitcoins. During the earlier days of the bitcoin, the mining was faster and cheaper,, now that's not the case.

[RankerCan]

An informative article on the power consumption of BTC.

Bitcoin and blockchain consume an exorbitant amount of energy. These engineers are trying to change that

[Babyfaceless]

i dont know that either how much electricty does bitcoin need if you want a PC miner you need 1 PC and video card it depends in video card that can mind bitcoin if you have more video card the bitcoin you have will increase and increase more the electricity you have use it to small it cannot affect in your work or in your house it has a website if you want to compute your own bill using the PC miner that you have and bitcoin salaries that you have earn everyday.

[Ahimoth]

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.

Actually if you are a bitcoin holder you don't need to spend much electricity. If you will just work wisely in this system you will figure out that in order to be successful in bitcoin spending so much is not needed. We can make use of electricity in bitcoin efficiently. It only needs small amount of electricity that is enough to run bitcoin.

[Traslavin]

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.

We only need small amount of electricity to run bitcoin effectively. Bitcoin doesn't require us to spend huge amount of electricity. In order to run bitcoin all we need is just enough electricity. Good thing is that we can be successful in bitcoin by just spending small amount of electricity. It's very cheap yet efficient and effective.

[spazie]

You need electricity costs about US $ 4,329 or Rp59.3 million (exchange rate Rp13.700 per US dollar) to mine a bitcoin in Indonesia.

[EEE14]

Yes, Bitcoin need huge amount of electricity. But i think, It will not become threat for companies because it's achieve more benefit from the power loss.

[shield132]

Don't wanted to say but to be fair energy is really wasted in bitcoin mining. For example if you know georgia, it's third country after china and usa in bitcoin mining, this country is very small and people here are in number less than Croatia. And such a small country is almost third in mining (if not third, it's in top list but I read somewhere it's third). So imagine, people like easy/free money here + add Bitfury to this which gets electricity in very cheap price and they are in tax free zone. For this reason people have to pay higher in electricity compared to last years.

[Kallisteiros]

Bitcoin doesn't need huge amounts of electricity. Increase in electricity consumption is a result of increase in mining difficulty, and the increase in mining difficulty is the result of miners competing more and more with each other, making blocks being found faster, and the algorithm automatically increases the difficulty to adjust the block time back to 10 minutes, making the network spend more electricity on it. If half of the miners* lose interest in Bitcoin tomorrow, in less than 2016 blocks generating Bitcoin will consume half of the energy required now. And it will not affect anything else: block time will still be ~10 minutes, its size will still be 1 MB max, transactions will be handled just the same. Electricity consumption is directly correlated to how valuable mining it perceived by people.

* miners owning half of the current hash power

[Nnedaddy1]

It is estimated that mining of bitcoin has consumed energy that is more than what the entire country of Singapore consumes from January 2018 to April.
If it continues like this, we might as well start looking for an alternative source of energy.

[dgreat]

 Bitcoin as a matter of fact depends more on mining and in that case it needs more power which we all know has to do with electricity not only that, it needs constant and steady operation which results to a very high power consumption. No doubt, it is very functional and running for years now as a result of its steady electricity supply so therefore, i would rate and say a 100% electricity power supply needed to run Bitcoin.

[ashlyvash00]

A side from reading english or understand english you should have electricity too. Because how can you use your pc or charge your cp if you dont have.