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Author Topic: How much electricity does bitcoin need?  (Read 509 times)
Kunal666456
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August 22, 2018, 10:41:22 AM
 #121

This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day).
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August 22, 2018, 11:02:03 AM
 #122

That's what i also have in my mind asking about the total energy a mining rig requires to mine bitcoin. It may cost high but i think the digital gold that you will mine is more than your electricity bill for the whole month, IMO.

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August 25, 2018, 05:04:58 AM
 #123

Bitcoin is a network that consumes a lot of energy over every single transaction. Keeping in mind its complexity and structure and mining process for blocks it could be harder to guess how much exact amount of electricity it might be using but for sure its using a greater share.
andika2018
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August 25, 2018, 06:06:33 AM
 #124

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?

Its hard to make precise calculation because every country have different electricity tariff. Miner in china have different cost with miner from europe because electricity in china cheaper. But i dont believe bitcoin network use more than 80% of the country separately electricity

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August 25, 2018, 07:00:44 AM
 #125

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?


If we do mining then it really requires more electricity because most miners consume lot if electricity but we the bounty hunters consume less electricity because we only spend a little time to do our task.

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August 25, 2018, 07:20:08 AM
 #126

I read somewhere where it was stated that bitcoin minning consumed in the last couple of years electricity that is more than the consumption of tge entire country of Singapore.
So yes, bitcoin consumes massive electricity

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August 25, 2018, 07:22:35 AM
 #127

Not only depends on the main source of electricity, it might be difficult to calculate the consumption that is needed by a large number of users and bitcoin investors currently owned.
roadwell890
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August 25, 2018, 07:36:22 AM
 #128

even though it takes a lot of electricity, but now the miner is getting smarter
they do not rely on electricity from the government alone, but they can also make electricity themselves, for example from water, wind, steam and so on
of course this matter actually encourages someone to be more creative and life-saving
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August 25, 2018, 07:50:38 AM
 #129

in fact, very much. But nothing stands still and many companies are inventing less expensive ways of storing or extracting bitcoin Wink
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September 15, 2018, 03:29:34 PM
 #130

Yes, bitcoin need so much electricity because bitcoin especially in mining its requires energy but i don't know how much energy that need bitcoin its up to your doing in mining/ how big the minor is. But that's very complicated to calculate and it consumes a great amount of electricity.
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September 15, 2018, 03:33:16 PM
 #131

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?

Recently I heard that Gold mining is needed 25x more power than Bitcoin Mining. Most of the people are saying Bitcoin is consuming alot power for no underlying asset. But no body understands the potential of Bitcoin Scarcity and other unique features like universal currency and not controlled by any one or one single entity.

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September 15, 2018, 03:51:30 PM
 #132

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 bitcoin needs only a few electricity because you only do is post. In signature campaign you just consume a minute to post but you need to do it every 30 minutes.

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