Stop worrying about how much energy bitcoin uses

[ChandraGold]

Do not worry too much about digging bitcoins that will consume a lot of energy, as now there are alternative energies that can save electricity. Moreover, compared to the electricity consumed by banks, it is much larger than bitcoin

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[GregH37]

Obviously it is energy consuming but in todays world what is not... I think that should not necessarily be an argument against Bitcoin

I do not think it is really as important as we make it out to be, I do not see environmentalist people marching down the road with signs "stop bitcoin, it kills trees" or whatever. No one really cares about how much bitcoin world uses in electricity, considering banks are using probably a thousand times more than what bitcoin is using there are further stuff to worry about.

Plus this is a story mostly made up by the corporations like visa and mastercard to shift the focus on what sides of bitcoin could be bad and all they could think of was the energy it is using which is really not that much at all. Considering we are moving further away from old type of energy and working towards sun and wind than we can clearly say it won't be a problem sometime quite soon as well.

[Genamant]

I know, the whole energy argument is stupid.  Just think about all the electricity the banking and credit card systems use (office buildings, employees driving to work, etc)

Always these allegations. Really stupid.
 do we have any idea of how much power the entire fiat system costs?
Be aware that the digital number on your bank accountant represents physical fiat.
Those need to be produced, moved and stored.

[spongegar]

I don't know if there is an exact correlation. But let me see if i can make sense out of it. If by using electricity i can save myself the money to commute or gas to use my car to go all the way to bank, park, line up, drive to the store, line up again and pay, drive back home then I'd gladly pay the electricity than use gas and my precious time.

[Pattart]

Obviously it is energy consuming but in todays world what is not... I think that should not necessarily be an argument against Bitcoin

For example China and Iceland has free cost of electricity we can mine 24 hour there. But in my country where electricity is expensive bitcoin mining would never be worth it. We always care about our electricity bills.

the problem is not free or pay, but too much electricity is bad for the environment? but the OP explained that we don't need to worry about the energy needed to use bitcoin? because they right, use of bitcoin in my opinion doesn't require a lot of energy..

[xabre]

why have to think about how much of energy needed by bitcoin, I care only when bitcoin is on higher price for selling and when bitcoin at lower price for buying, just thinking when have I buy and when have to sell of bitcoin.

[Roukawa]

Yup for people who are against Bitcoin and cryptocurrencies in general they always try to find loopholes or associate bad things on it yet they fail to even make a good ppint about of it. Just like what they are saying about crypto mining taking up a lot of power when they fail to make renewable energy as a factor. They talk about mining wasting energy as if electricity now is a scarce resource. Why not instead of complaining about it they instead try to improve the renewable energy we currently have because it is really now important to change from coal to a much more greener alternative.

Haters are always haters, they do not care about the industry as long as they do not want. If they did not destroy the image of cryptocurrency or bitcoin in issues like high fees and low transaction speed plus bubble thing, they tend to use the energy as consumption of bitcoin. Definitely, they just look for loopholes because they do not want bitcoin to exist. However, they know that bitcoin is usable also and current can be charged not only in geothermal but in solar also.

[biskitop]

how not to worry because in fact in fact bitcoin mining activities consume very large electrical energy, and are not environmentally friendly. maybe if there are other electric power alternatives such as solar or water, it might reduce it more. but still, the electricity consumption of bitcoin mining remains large.

[loopes]

Don't comparing about energy but we should comparing about the cost, fiat money need more cost rather than bitcoin for it's transfer, managent and renewal. While bitcoin only need less then 1$ for each transaction. So agree with you to stop saying about how much energy bitcoin uses.

[1Referee]

why have to think about how much of energy needed by bitcoin, I care only when bitcoin is on higher price for selling and when bitcoin at lower price for buying, just thinking when have I buy and when have to sell of bitcoin.

Exactly. People themselves don't care one single bit about Bitcoin's energy consumption, because they use it how it benefits them. If something is useful, the 'negative' aspect associated with that suddenly doesn't matter anymore, and this goes up for Google's (and basically other large tech companies) insane datacenters as well. Do people care how much their datacenters consume in energy? Nope, because people use their services.

Those who complain about Bitcoin's energy consumtion are bitter individuals not seeing the value in Bitcoin. In other words, no coiner trash talk. These people were trash talking datacenters back in the early internet age as well. Give it time; no coiners will become addicted Bitcoiners eventually, and they'll shut up about Bitcoin's energy consumption.

[LOLpenguin]

Most bitcoin mining operations in china are powered by hydroelectric plants rather than coal.

Do you have any reference to that? Would like to confirm this fact. Thanks!

[plescruslo]

why have to think about how much of energy needed by bitcoin, I care only when bitcoin is on higher price for selling and when bitcoin at lower price for buying, just thinking when have I buy and when have to sell of bitcoin.

Well you might not care about how much of the energy is used in mining Bitcoin but the miners do. The low the cost of mining, the maximum the profit they make by mining. The good market in addition adds more value to the portfolio.

[patarfweefwee]

I don't think that crypto currency itself could be using as much power as this article is saying. Considering that I've never seen the charts and outputs directly correlated with piwer and crypto currency. I mean we're just using our phones or laptops or desktops for all of this to happen. Have we ever thought how much energy we use browsing facebook?

[maemunah]

why have to think about how much of energy needed by bitcoin, I care only when bitcoin is on higher price for selling and when bitcoin at lower price for buying, just thinking when have I buy and when have to sell of bitcoin.

it's true that you have to say that the thing to think of course is when we have to buy and sell like now is the time to buy a lot of bitcoin so that someday we can get a big profit

[jjjfff]

I know, the whole energy argument is stupid.  Just think about all the electricity the banking and credit card systems use (office buildings, employees driving to work, etc)

An interesting question would be the efficiency.

Credit card operators process millions of transactions per second using X amount of power.

How much power is spent by Bitcoin per transaction?

[Idoe]

For miners, they will calculate the power needed for bitcoin mining, but for us, we only calculate the buying and selling in the crypto market between profit or loss.
At present many miners stop to mine because bitcoin has a decline so it is not in accordance with the amount of energy released.

[Ahimoth]

For miners, they will calculate the power needed for bitcoin mining, but for us, we only calculate the buying and selling in the crypto market between profit or loss.
At present many miners stop to mine because bitcoin has a decline so it is not in accordance with the amount of energy released.

Worrying cannot help you, so stop worrying if its not worth it. So its better if you focusing to the things that to much important than regretting what you have done and let yourself worry about it. Life goes on so keep moving no matter what happen because you can encounter a lot like that. Just don't do the same mistake and learn from it, dont worry about the energy you used in bitcoin because one day its worth it.

[BitHodler]

At present many miners stop to mine because bitcoin has a decline so it is not in accordance with the amount of energy released.

I think there is some artificial difficulty adjusting going on as well. Getting the difficulty down by withdrawing a large portion of hashrate long enough is clearly visible right now.

You'll see that after the next -9% difficulty drop tomorrow that miners will turn on way more hashrate than they withdrew previously, all to scoop up more coins. Is this a form of manipulation? Kinda, but we can't do anything about it.

Miners aren't doing anything without filling up their own pockets so it's not really surprising. The only downside is that this manipulation slows down the block times, which affects everyone using the network.

[UchihaRukawa]

why have to think about how much of energy needed by bitcoin, I care only when bitcoin is on higher price for selling and when bitcoin at lower price for buying, just thinking when have I buy and when have to sell of bitcoin.

Well you might not care about how much of the energy is used in mining Bitcoin but the miners do. The low the cost of mining, the maximum the profit they make by mining. The good market in addition adds more value to the portfolio.

For me, yes it does consume a lot of energy, it also means a lot of expenses to pay, but it doesn't really matter if we are earning way more than what we pay for our expenses, but I also do agree that if we are to have a lower expense to pay then that only mean that we are gonna have more and more income or profit to collect, and for me, that is what we call a good business or investment, but now that cryptocurrency value is on a down trend, I think it would be best for a much power saving method.

[coldplay3r30]

Yup for people who are against Bitcoin and cryptocurrencies in general they always try to find loopholes or associate bad things on it yet they fail to even make a good ppint about of it. Just like what they are saying about crypto mining taking up a lot of power when they fail to make renewable energy as a factor. They talk about mining wasting energy as if electricity now is a scarce resource. Why not instead of complaining about it they instead try to improve the renewable energy we currently have because it is really now important to change from coal to a much more greener alternative.

the success of bitcoin to become the world's alternative currency, it certainly makes some countries or some of the world's financial system services feel threatened, so those with all power will hinder the progress of bitcoin to make the world's single currency, but the bitcoin step is unstoppable because the system offered by bitcoin makes it very easy for users, maybe in the future bitcoin will still be the currency of the world's single.