Bitcoin Power Consumption

[funchiestz]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

It's not just Bitcoin-specific. The same is the case for cryptocurrency coining Ethereum and other blockchain mining.

[jcarlo]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

I think the only is using alternative energy. Many resource right now that can produce electricity and i am believe the cost much cheaper. I am believe bitcoin electricity consumption not to big and not more than 1% from total capacity

[Angelo34]

I don't see how this is turning into a subject of worry with bitcoin clients of late. I am certain that there are different organizations and family units that devours more power than bitcoin mining. What's more, in spite of the fact that there are numerous individuals who utilizes bitcoin, there are more individuals who are not utilizing as well as even unconscious of the presence of cryptographic money.

[koRo11n]

In Bitcoin transactions, the Bitcoin network will be processed and validated by the miners. This Bitcoin mining process consumes approximately 350 megawatts of electricity.

[pinkflower]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

It's not just Bitcoin-specific. The same is the case for cryptocurrency coining Ethereum and other blockchain mining.

Except Burst, a cryptocurrency that you can mine that uses very low power by using the free space in your hard drives. I have seen many complaints about Bitcoin's power consumption, but none of them are supporting the project thats trying to fix that problem. Support Burst or know about it.

[bp.comp69]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

Cara terbaik untuk mengurangi bitcoin adalah dengan cara menyulitkan pendaftaran dan mengurangi pendaftaran bitcoin.

[kokobaba880]

I have personally started bitcoin mining but now the power consumption by mining is more than it's benefit and a double of cost we have to bear for it So due to this i have left crypto mining and in our country where electricity cost is high i am unable to continue mining in our country and now the mining will be stopped in China as well.

[juntop1]

New technologies and data processing centers always need a big amount of energy. From year to year, the amount of energy consumed increases. It is a normal thing. The energy production can increase but it will have a minimal impact on the environment because the issue is not how much but how it is produced. Bitcoin miners are just consumers of energy. Maybe it is time to stop criticizing them for high power consumption and start rethinking how most countries receive energy from resources harmful to the environment.

[JustinKyle]

Is the world capable of maintaining Bitcoin as the virtual currency is receiving a lot of attention from institutional investors as well as central banks both positive and negative? Here is the bitcoin creation that requires an incredible power source. With this industry, electricity is the biggest obstacle. We can reduce the power consumption by lowering bitcoin prices.

[jice]

For those interested, I share with you a 35-page personal study on Bitcoin's energy footprint;

Difficult since the beginning of the year not to fall on a newspaper article announcing that the Bitcoin network is an ecological disaster due to its high energy consumption. We will soon learn that Bitcoin miners are responsible for the non respect of the Kyoto protocol.

The Bitcoin network uses a large amount of energy. However, does a technology that consumes energy necessarily have a high carbon footprint?

After analyzing the mining sector and the energy sector, this argument does not hold water if we take into account the rapid adoption of renewable energies by miners. Better yet, Bitcoin contributes to the development of alternative energy solutions, particularly hydroelectricity

Medium:
https://medium.com/@jicprusnel/bitcoin-as-an-environmental-subsidy-to-alternative-energy-1e91c427ab9e

PPt presentation:
https://www.slideshare.net/JeanChristopheBusnel/bitcoin-and-its-energy-footprint-120144132?qid=f0356e77-e70d-4053-95d9-39d6e7065cc7&v=&b=&from_search=1

[carlisle1]

Thats why these days mining is not profitable anymore,because of this continuously power consumption growing day by day.not lik the old days when mining is one best source of inome here in cryptocurrency but today.this is just a nothing but a break even business because only for electricity billing will come you profit

[BitBustah]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

It is a concern because of the recent news of climate change.  However, I think in the near future we will have more efficient and clean energy sources.  Also the amount used by crypto mining farms is a lot lower than the traditional banking system uses if you factor in everything linked to it.

[joeperry]

The mining of bitcoin is through PoW which is mining there's no other way on getting a bitcoin except for mining, that's one of the negatives of the bitcoin it consumes a lot of energy in order to produce virtual currency which can affect the environment.

That's why there are some coins which can get through PoS and I support those kind of coins however still many people are using bitcoin up to date, maybe we should try and support coins which provides PoS right?

[bitcoinVPSD]

Yes, the power consumption from bitcoin mining is having a negative impact on our environment. And of course we can not replace the electricity with other sources of energy. But I think the plants should use new fuel sources to generate power for the plants. We can use solar energy or use wind to create electricity. This helps to protect the environment.

[rindo]

In July, American Express Travel Services Related Co. registered another patent for a blockchain-based system that would automate payment proofing by encrypting payment data with a public key on an opening node of a blockchain.
Archiving describes how the system allows a user with a mobile device to capture the image of a receipt. The system then, deciphers the image and combines it with the database on the transaction history.

So the discussion of power consuming is not applied to Banks and that kind of financial organization??

[sinta23]

I have personally started bitcoin mining but now the power consumption by mining is more than it's benefit and a double of cost we have to bear for it So due to this i have left crypto mining and in our country where electricity cost is high i am unable to continue mining in our country and now the mining will be stopped in China as well.

in fact, being a miner must have a thick bag. because the longer the electricity costs increase. Moreover, being a miner also requires high electricity, so the costs incurred are also high.

[dimiinx]

Some of the miners use solar to mine therefore they minimize their expenses on mining that makes it more profitable, Im not sure if there other way like this to mine.

I think miners need a lot of consumption, not just eating and drinking, but need tools to mine, for example mining aids, in the form of heavy equipment

[SnapDown22]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

the consumption is that there is no consumption for bitcoin, but only the existence of a mining aid and intelligence only if we can do it well

[kzozenberg]

Energy consumption will not grow there is the government of the country will ban mining as China did a couple of days ago !

[gamechangers]

Power consumption of bitcoin mining keeps going up. And will continue to go up as bitcoin usage and price increases. This have harsh enviromental implications. Is there a way to reduce power consumption or are there plans to switch to a more eco-friendly way of mining bitcoin?

The rate at which bitcoin mining consumes power is alarming as there is no alternative to this at the moment. I'm not sure the bitcoin community are doing anything towards it right now, the heat encountered during mining and the gases inhaled are unhealthy. Using solar power can be a good source of power to power the equipment but could be expensive too.