Bitcoin Forum
October 27, 2020, 01:19:57 AM *
News: Latest Bitcoin Core release: 0.20.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1] 2 3 4 »  All
  Print  
Author Topic: Bitcoin & Electricity: Threat or Blessings  (Read 15181 times)
ClintonJ
Jr. Member
*
Offline Offline

Activity: 104
Merit: 2


View Profile
October 23, 2018, 08:47:49 PM
Merited by odolvlobo (1), Zin-Zang (1)
 #1

I have researching Blockchain technology since 2 years. So i have decided to conclude about some topics which are controversial. Please correct me if you got me wrong.

Bitcoin has become the most talked thing recently for its upsurge and downfall, the very feature that makes it unique to all others. Bitcoin can be collected through a process of solving mathematical equation, better known as mining. Mining needs a great set of computer components to do it pretty well but if takes a huge amount of energy to produce a tiny amount of bitcoin. Since mining become very popular among enthusiast and the price hike is going up; more and more people are involving themselves into this.

The Irony Fact

The irony of the fact is that, it also takes away a lot of energy that can be used in our daily lives for days and months. Most of the countries produce their electricity through fossil fuel or by burning coal or gas, which is emptying day by day.  It puts a great deal of pressure in our future endeavors as nothing is made to replace it.

The Usage of Electricity increases by 300 times

Bitcoin surely is new revolution for the blockchain technology but it has a big price to pay even to make 1 bitcoin. The less economically powerful countries mostly produce their electricity through their natural resources and does not have power plants that produces from molecular level. Recent reviews shows that, since the arrival of mining, the use of electricity increases by 300 times comparing to the previous years.

Quote
Typically the Bitcoin network currently consumes about 2. 55 gigawatts (GW) of electricity for each year; to put that into perspective, the complete country of Ireland has an average electricity utilization of 3.2 GW, and Austria has an average electricity usage of 8. 2 GW per year. Over the past year, the estimated amount of TwH that the Bitcoin network utilizes per year increased 413. 37 percent. In comparison with countries like the Czech Republic, the Bitcoin network makes use of 102. 3 % of the complete electricity consumed by the country per year.

At first, the condition was easy enough to become solved by the standard CPU, but since more miners joined typically the network and the condition started to be more difficult, miners identified that GPU were far better suited to solve the particular problem. Just a couple years afterwards, FPGAs and after that ASICs – application specific integrated brake lines – were better suited than GPUs to solve a block. Folks, like magnate and former Google information security Professional, Marc Bevand, feels that the quantity of energy that mining uses will cause further development by way of renewable energies. Bevand believes that the energy consumption will eventually guide to decreased costs of renewable energy for modern society at large.

Electric bills have already put miners looking for a less costly source of energy. Companies have been looking to be able to places like Canada plus the Sichuan province wherever electricity is typically less costly. Because miners have incentives to use cheap electrical energy, this results in more R&D in the energy space. In the long run, this will make forms of electricity less costly to all of modern society as innovations are manufactured in energy.
Also even though amount of energy mining procedures consume does not really go unnoticed, some individuals think that the benefits associated with exploration - network security ~ outweigh the negative externalities like electricity consumption.

The particular Bitcoin network is secured by a consensus protocol called proof-of-work (PoW). Miners are paid minted Bitcoin and transaction costs for solving an obstruction newly, securing the network at the same period. If a miner is definitely not really capable to resolve the cryptographic evidence, obstructs of transaction history shall not be added to the blockchain and blockchain technology generally would be nullified; simply no record of offer background would become produced if obstructions had been not really resolved and added to the string by miners. The price that should end up being paid for this community protection is normally the large quantities of energy that a POW.  

Quote
Cypherpunk Jameson Lopp accepted tweets to express how he feels about Bitcoin’s energy expenses issue. Lopp is convinced that the energy expenditure that Bitcoin query accrues is usually merely taxes that must become paid for network protection.

Economic researcher Vasily Sumanov also believes that energy inefficiency and waste materials is normally currently the price we pay to conduct blockchain experiments:
Quote
“Higher energy consumption is associated not only with environmental pollution but also with the higher security of a distributed ledger dedicated to storage and transfer of value. I have a strong feeling that this is a temporary situation, and in the future, Bitcoin energy efficiency as a function of transaction volume and energy consumption will increase as a result of Lightning Network adoption.”

Unsurprisingly, the computer hardware industry has responded to the demand for ever faster processing. Gone are the days when anyone could mine Bitcoin on an ordinary laptop. These days, you need a specialist mining rig with a dedicated processor known as an Application-Specific Integrated Circuit (ASIC). These things don’t come cheap.

Big Pools Big Power
As with all hardware-intensive enterprises, those with the most bucks inevitably have the advantage. So miners have grouped together into “pools”, sharing resources and benefiting from economies of scale, which helps them to gain market share. Bitcoin mining is now dominated by three big pools, which together account for 55% of total hashpower. About 80% Bitcoin mining is presently done in China(I think it is reducing day by day specially in china as there government imposed the rules). But it is definitely developing in additional locations as well: Iceland, Asia, Georgia, the Czech Republic, India, parts of the United Expresses, Venezuela. With inexpensive and abundant energy anywhere, in reality. This is usually because, despite the equipment “hands competition,” by the biggest price for Bitcoin miners is normally power considerably.

Power era on the range needed for Bitcoin exploration requires property. A lot of it. Fossil fuel mines, hydro plant life, solar energy and blowing wind farms - all of them want property. And there is usually no place on this globe where usage of property is normally not really managed by federal government, one method or another. Will government authorities end up being prepared to dedicate bigger tracts of property to power era for cryptocurrency miners ever? It appears less likely. Nevertheless you appear at it, as Bitcoin’s energy demand boosts, inexpensive abundant electricity items for Bitcoin miners shall decrease.

Predictably, Bitcoin miners downplay both their energy use and the threat it poses to ordinary people, ordinary businesses and the planet that they occupy. They state that sites like the Bitcoin Energy Intake Index overstate power use, that Bitcoin exploration is certainly no even more costly than typical fund, that exploration is certainly just using excess electric power that is normally not really required by various other users, and that anyway exploration is a beneficial activity that provides wealth to the accepted areas that sponsor it. Unfortunately there is usually little proof to support their promises, and in parts of the U.S. it is normally very clear that the third state - that exploration just uses excess energy - is normally in fact untrue. But also if Bitcoin miners’ promises were true, Bitcoin would end up being completely reliant about federal government for its power source still, one method or another. It is usually anything but immune from federal government power, as its supporter’s state.  

Bitcoin’s want for power is normally its Achilles heel


Great things come with great prices, so does Bitcoin. It actually has a bigger threat for the future as our stats are showing. Rather than relying on the public power source, miners can made their own power source and start mining the reaming bitcoins, till then use the existing one as the exchange device and earn from it. People do not need to get disheartened as green energy and other potable energy sources are on the verge of creating market hype soon. Patience is the key here.


Still We need to think Green , Yes Green with Bitcoin. Its Possible.

Don't take it negatively , i am writing article in this forum for long time still no intention to participate in any bounty campaign. Last month i felt i need for livelihood , But for the last update i just need 1 merit. Yes i am begging. Because i know i am capable enough for it. Just need the help of the community.
 
1603761597
Hero Member
*
Offline Offline

Posts: 1603761597

View Profile Personal Message (Offline)

Ignore
1603761597
Reply with quote  #2

1603761597
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1603761597
Hero Member
*
Offline Offline

Posts: 1603761597

View Profile Personal Message (Offline)

Ignore
1603761597
Reply with quote  #2

1603761597
Report to moderator
1603761597
Hero Member
*
Offline Offline

Posts: 1603761597

View Profile Personal Message (Offline)

Ignore
1603761597
Reply with quote  #2

1603761597
Report to moderator
1603761597
Hero Member
*
Offline Offline

Posts: 1603761597

View Profile Personal Message (Offline)

Ignore
1603761597
Reply with quote  #2

1603761597
Report to moderator
Prayservice Thomas
Jr. Member
*
Offline Offline

Activity: 67
Merit: 5


View Profile WWW
October 23, 2018, 09:11:49 PM
 #2

Considering how much energy the whole banking system of fiat-currencies uses, the amount bitcoin needs is more than fair.
If we think further in an idealistic way and consider a widespread replacement of fiat throuh crypto in the next decades, there will be even less energy needed.

In this context, the idea of proof-of-capacity (PoC) is also an interesting thing, as it already offers the technology without waiting.
https://en.wikipedia.org/wiki/Proof-of-capacity

Visit my free prayservice if you like. God bless!
https://bitcointalk.org/index.php?topic=4632723
AkxenStriX
Newbie
*
Offline Offline

Activity: 18
Merit: 0


View Profile
October 23, 2018, 10:07:10 PM
 #3

I know you have done a lot of Research,  but this forum has become so much scammy i cant believe. People will die with sMerits and will use it in heaven. Even one of my friend told me he got merit from a friend. So find friend with merits. Lots of merit,  there is no one cares for you,  for your content,  whatsoeve.  Anyway nevermind friend your content is good,  if i had merit i would give you.

I also think Bitcoin is consuming more power,  we have to think green.  
franky1
Legendary
*
Offline Offline

Activity: 2926
Merit: 1781



View Profile
October 23, 2018, 10:27:05 PM
Merited by Wind_FURY (1)
 #4

here we ago again the lies of wasting electric

so here goes
bitcoin mining farms (the smart ones) are not wasting electric.
power companies dont just produce to demand. they produce with EXCESS so that there is a buffer so that when homes turn on lights or cook something. the sudden change of electric draw doesnt cause brown outs

many big mining farms buy up some of this excess in a year long contract. because the excess cant be re-used/stored. so would go to waste otherwise.

by actually using the excess and having funds come from it allows power companies to expand and upgrade their facilities faster to be ready for future demands.

the math some have reported as being atleast 1% of world usage is a fallacy. the real numbers are around 10x less than that. (under 0.1%)
the article that reported the 1% were using 2015-6 hardware but with 2018 hashrate stats. which is like saying it takes an hour to get 3 miles because they base it on the speed of walking and not realise current tech is cars, trains, planes which are faster.

take the s9 antminer. 14thash using as much electric as 2 gaming PC's but producing as much hash power as double digit thousands of gaming machines


I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
ShowOff
Hero Member
*****
Offline Offline

Activity: 1330
Merit: 644



View Profile
October 23, 2018, 10:45:00 PM
 #5

A lot of thing already be threat for environtment, and that is humanity. But if bitcoin mining can give something to fix it, maybe to build another alternative electricity will be very good. I not support or agree if we destroy with environment, but blame if only bitcoin which make our environment destroyed, it is totally wrong.

███████████████████████████
██    ▀█████████████▀    ██
██      ▀████▀████▀      ██
███▄    ▄██▀   ▀██▄    ▄███
█████▄▄██▀  ▄▄▄  ▀██▄▄█████
███████▀    ███    ▀███████
██████               ██████
███████▄    ███    ▄███████
████▀ ▀██▄  ▀▀▀  ▄██▀ ▀████
████▀   ▀██▄   ▄██▀   ▀████
██▀   ▄▄ ▄███▄███▄ ▄▄   ▀██
██▄ ▄█████████████████▄ ▄██
███████████████████████████
.
..Duelbits..
██
██
██
██
██
██
██
██
██
██
██
██
██
███████████████████████████
██ ▄▄▄▄ ███████████ ▄▄▄▄ ██
██ █ ▄▄▄▄ ███████ ▄▄▄▄ █ ██
██ ▀ █ ▄▄▄▄ ███ ▄▄▄▄ █ ▀ ██
████ ▀ █  █ ███ █  █ ▀ ████
██████ ▀▀▀▀ ███ ▀▀▀▀ ██████
██▄ ▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄ ▄██
██▄██████▌▐▀▄▀▄▀▌▐██████▄██
██▀▀▀████ █▄▀▄▀▄█ ████▀▀▀██
█████▄▄▄ ▄▄▄▄▄▄▄▄▄ ▄▄▄█████
███████▌▐█████████▌▐███████
██▄▄▄▀▀ ▀▀▀▀▀▀▀▀▀▀▀ ▀▀▄▄▄██
███████████████████████████
███████████████████████████
███████████████████████████
█████████████████▀██ ██▀███
██████████████████▄███▄████
██ ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ██
██ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ██
██ ██████ ▐█████▌ █ ██ █ ██
██ █▀▄▄▀█ ▐▀▄▄▄▀▌ ██▄▄██ ██
██ █▄▀▀▄█ ▐▄▀▀▀▄▌ ▀▀▀▀▀▀ ██
██ ██████ ▐█████▌ ██████ ██
██ ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ██
██ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ ██
███████████████████████████
███████████████████████████
██▀▄▄▄▄▄▄▄▄▄▄▄▄▀███████████
██ █▀▄▀▄▀▄▀▄▀▄█ ███████████
██ █▀▄▀▄▀▄▀▄ ▄▄▄▄▄▄▄▄▄▄▄▀██
██ █▀▄▀▄▀▄ █ █▀▄▀███████ ██
██ █▀▄▀▄▀▄ █ ██▄████████ ██
██ █▀▄▀▄▀▄ █ ████▀▄▀████ ██
██ █▀▄▀▄▀▄ █ ███ ███ ███ ██
██ █▀▄▀▄▀▄ █ ████▄▀▄████ ██
██ ▀▀▀▀▀▀▀ █ ████████▀██ ██
██ ▀▀▀▀▀▀▀ █ ███████▄▀▄█ ██
██▄▀▀▀▀▀▀▀▄▀ ▀▀▀▀▀▀▀▀▀▀▀▄██
███████████████████████████
███████████████████████████
████████▀▀▄▄▄▄▄▄▄▀▀████████
█████▀▄▄███████████▄▄▀█████
████ █████████████████ ████
███ ███████████████████ ███
██ █████████████████████ ██
██ █████████████████████ ██
██ ████████████   ██████ ██
███ ███████████   █████ ███
████ █████████████████ ████
█████▄▀▀███████████▀▀▄█████
████████▄▄▀▀▀▀▀▀▀▄▄████████
███████████████████████████
███████████████████████████
██ ▄▄▄▀▀███████████▀▀▄▄▄ ██
██ █████▄▀███████▀▄█████ ██
███▄▀█████▄▀███▀▄█████▀▄███
█████▄▀█████▄▀██████▀▄█████
███████▄▀█████▄▀██▀▄███████
█████████▄▀█████▄▀█████████
███▀▄▄▀▀▄██▄▀█████▄▀▀▄▀████
████ ██▄▀████▄▀███▀▄██ ████
████▀▄███▄▀▄███▄▀▄███▄▀████
██▀▄██▀▄▀▀█ ███ █▀▀▄▀██▄▀██
███▄▀▄████▄█████▄████▄▀▄███
███████████████████████████
LIVE SHOWS
SLOTS
BLACKJACK
  ROULETTE
  DUELS
▬▬▬▬▬▬▬▬
CASHBACK
██&██
RAKEBACK
██
██
██
██
██
██
██
██
██
██
██
██
██
.
...Register Now...
Indrawan77
Hero Member
*****
Offline Offline

Activity: 1274
Merit: 516


View Profile
October 23, 2018, 11:02:35 PM
 #6

Bitcoin mining used electricity and by doing mining we used more electricity, but there are more activity that used more electricity, and we can used another electricity source to mine bitcoin, so I don't see how bitcoin mining could jeopardise the environment, everything in this world uswd electricity and the factory used more electricity than bitcoin mining, the bank also used more electricity than bitcoin, so I don't see this as problem
ClintonJ
Jr. Member
*
Offline Offline

Activity: 104
Merit: 2


View Profile
October 24, 2018, 05:27:51 AM
 #7

A lot of thing already be threat for environtment, and that is humanity. But if bitcoin mining can give something to fix it, maybe to build another alternative electricity will be very good. I not support or agree if we destroy with environment, but blame if only bitcoin which make our environment destroyed, it is totally wrong.

Yep we can't play with the environment for sure. But i think finding the green way will be the most sustainable solution we can ever have.
Zin-Zang
Member
**
Offline Offline

Activity: 364
Merit: 11

Killing Lightning Network with a 51% Ignore attack


View Profile
October 24, 2018, 05:55:57 AM
 #8

Bitcoin can only go Green by dropping the Proof of Work and moving to an alternative such as Proof of Stake.

The PoW miners have centralized control of bitcoin thru their PoW Mining Equipment, giving that up would give up their control.
They will never do it.

If you want energy efficiency, look into the alts as bitcoin is dead in the water on ever fixing their energy waste problem.

I was Red Tagged because Lauda Blows Theymos to get back on DT
The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
ClintonJ
Jr. Member
*
Offline Offline

Activity: 104
Merit: 2


View Profile
October 24, 2018, 06:05:56 AM
Last edit: October 24, 2018, 06:31:14 AM by ClintonJ
 #9

Bitcoin can only go Green by dropping the Proof of Work and moving to an alternative such as Proof of Stake.

The PoW miners have centralized control of bitcoin thru their PoW Mining Equipment, giving that up would give up their control.
They will never do it.

If you want energy efficiency, look into the alts as bitcoin is dead in the water on ever fixing their energy waste problem.


Sir i just got your words, but in case of PoS the New block is found through a deterministic way ( i read in google) , and it depends upon the stake and records. Does it mean the pool with maximum assets will find the block faster ?
Zin-Zang
Member
**
Offline Offline

Activity: 364
Merit: 11

Killing Lightning Network with a 51% Ignore attack


View Profile
October 24, 2018, 06:33:26 AM
 #10

Bitcoin can only go Green by dropping the Proof of Work and moving to an alternative such as Proof of Stake.

The PoW miners have centralized control of bitcoin thru their PoW Mining Equipment, giving that up would give up their control.
They will never do it.

If you want energy efficiency, look into the alts as bitcoin is dead in the water on ever fixing their energy waste problem.


Sir i just got your words, but in case of PoS the New block is found through a deterministic way ( i read in google) , and it depends upon the stake and records. Does it mean the pool with maximum hashing power will find the block faster ?

In Proof of Stake,
The larger the number of coins per block the better your chance to stake.
Some calculate a coin weight = # of coin * days since last staked
(Their are multiple implementations with varying specs.)

Big Difference
in PoW your ASICS can try and mine every block,
in PoS  your coins go inactive for a defined period of time after the stake (varies with different coins)
This keeps a Proof of Stake Majority Coin Holder from dominating the block generation unlike a Majority Proof of Work Miner that could dominate a PoW network constantly.

Pooling is not as important in Proof of Stake as Proof of Work.
In some Proof of Stake coins it helps and in others no real difference , just depends on their specs.

* In Proof of Stake the blocks creation difficulty increases if the blocks are being found too fast,  and decreases if the blocks are not being found fast enough,
so pooling can't make more blocks be found than the daily limit set in the program code.*


 

I was Red Tagged because Lauda Blows Theymos to get back on DT
The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
coinwizard_
Jr. Member
*
Offline Offline

Activity: 336
Merit: 5

Most Advanced Crypto Exchange on the Blockchain


View Profile
October 24, 2018, 06:38:43 AM
 #11

There is an increase in green energy miners who will help to change the way miners consume energy. Most use solar energy but newer projects are looking at bigger alternatives like geothermal

CRYPTOCIRCLEX | THE MOST ADVANCED CRYPTO EXCHANGE ON THE BLOCKCHAIN
✪╠════════════════════════════════════════════════════════════╣✪
Herbert2020
Legendary
*
Offline Offline

Activity: 1876
Merit: 1134


View Profile
October 24, 2018, 06:48:19 AM
 #12

actually the irony is that a lot more energy is wasted each time someone brings up this topic that has been discussed a million times and is wrong. and it is funny that the theme of it is always the same but the discussion is seemingly different. basically you all are ignoring the unimaginably huge utility that bitcoin is offering as a decentralized currency. you with your statements such as "bitcoin is taking away energy that could be used elsewhere" as if the energy production is capped and bitcoin is taking away from it! and others with similar statements.

This space is for rent. Send PM with your offer.
Zin-Zang
Member
**
Offline Offline

Activity: 364
Merit: 11

Killing Lightning Network with a 51% Ignore attack


View Profile
October 24, 2018, 07:04:13 AM
 #13

actually the irony is that a lot more energy is wasted each time someone brings up this topic that has been discussed a million times and is wrong. and it is funny that the theme of it is always the same but the discussion is seemingly different. basically you all are ignoring the unimaginably huge utility that bitcoin is offering as a decentralized currency. you with your statements such as "bitcoin is taking away energy that could be used elsewhere" as if the energy production is capped and bitcoin is taking away from it! and others with similar statements.

What is really funny , is how all of those people that ignore bitcoin's energy waste
always seem totally clueless that Proof of Stake can provide an energy efficient method with a onchain transaction capacity higher than bitcoin.

Bitcoin has not been decentralized since the Chinese miner exceeded almost 70% over 2 years ago.
Bitcoin is now and will forever more be Centralized.

The problem with bitcoin is the rate it has been requiring more resources, it is exponentially growing at a rate that exceeds current energy infrastructure. And the current energy infrastructure is growing at less than 15% per year, Bitcoin is exceeding that % and will drive up prices or be banned depending on the Electric Utility's Choice. Some such as China are starting to Ban already and the miners used hydro-electric in China.
The places where mining is profitable is decreasing every few months.
It really does not matter whether you believe it or not, by 2021 the reality will be inescapable to all.
By that time Bitcoin Mining will be done only by the government sanctioned few or died because it was crushed by it own growing electricity input costs.

I was Red Tagged because Lauda Blows Theymos to get back on DT
The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
ClintonJ
Jr. Member
*
Offline Offline

Activity: 104
Merit: 2


View Profile
October 24, 2018, 07:08:00 AM
 #14

"bitcoin is taking away energy that could be used elsewhere" as if the energy production is capped and bitcoin is taking away from it! and others with similar statements.

I know the outcome of Bitcoin is gigantic and we cant over respond the reality. In any case, for the survival we have to comprehend the result. We can't remark on this reality as a native of a developed nation. We have restricted measure of vitality , so why not think to spare it for our future. In the event that it isn't conceivable , we need to think this with sustainable power source. It is imperative for Bitcoin's Survival.

Because Green mining is possible, we have to change the way.
Pursuer
Legendary
*
Offline Offline

Activity: 1624
Merit: 1160


Where is my ring of blades...


View Profile
October 24, 2018, 07:16:15 AM
 #15

I've got a feeling that this topic does not even belong to a bitcoin discussion board because what OP is talking about is not about bitcoin and electricity despite the title. it is instead about electricity and the ways it is produced!
the "green" energies and the way you produce the electricity other than burning fossil fuels is a very good discussion but it is about electricity production and there is nothing bitcoin can do about it. bitcoin is a consumer of that energy and the consumer can not force the producer to change its ways. you have to focus on the producer instead of the consumer.

smartmixer.io▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
.Make your Cryptos untraceable!.
(( ███████ ((    TELEGRAM    )) ███████ ))
▄▄███████▄▄
▄███████▀███████▄
▄███▀▀▀ ▄▄▄ ▀▀▀███▄
▄███ ▄▀▀▀   ▀▀▀▄ ███▄
████ █  ▄   ▄█ █ ████
████▌▐▌ ▀█▄█▀ ▐▌▐████
▀████ ▀▄  ▀  ▄▀ ████▀
▀████▄ ▀▄▄▄▀ ▄████▀
▀█████▄▄ ▄▄█████▀
▀▀███████▀▀
.
NO LOGS
▄▄███████▄▄
▄██████▀▀▀██████▄
▄█████▀ ▄▄▄ ▀█████▄
▄██████ ▀   █ ██████▄
███████   █▀  ███████
████████▄ ▄ ▄████████
▀████▀         ▀████▀
▀███   ▄   ▄   ███▀
▀███████████████▀
▀▀███████▀▀
.
NO SIGN-UP
▄▄███████▄▄
▄███████████████▄
▄███████▀   ▀█████▄
▄████▀  ▀      █████▄
████     ▄▀▄  ▀ ▀████
███    ▄▀▄ ▄▀▄    ███
▀███▄▄  ▀█ █▀   ▄███▀
▀████████ ████████▀
▀███████████████▀
▀▀███████▀▀
.

70% COMSN
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
MIX NOW!
.
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
▄  ▄  ▄  ▄  ▄

▀  ▀  ▀  ▀  ▀
Wind_FURY
Legendary
*
Offline Offline

Activity: 1624
Merit: 1044


www.Crypto.Games: Multiple coins, multiple games


View Profile
October 24, 2018, 07:27:54 AM
 #16

here we ago again the lies of wasting electric

so here goes
bitcoin mining farms (the smart ones) are not wasting electric.
power companies dont just produce to demand. they produce with EXCESS so that there is a buffer so that when homes turn on lights or cook something. the sudden change of electric draw doesnt cause brown outs

many big mining farms buy up some of this excess in a year long contract. because the excess cant be re-used/stored. so would go to waste otherwise.

by actually using the excess and having funds come from it allows power companies to expand and upgrade their facilities faster to be ready for future demands.

the math some have reported as being atleast 1% of world usage is a fallacy. the real numbers are around 10x less than that. (under 0.1%)
the article that reported the 1% were using 2015-6 hardware but with 2018 hashrate stats. which is like saying it takes an hour to get 3 miles because they base it on the speed of walking and not realise current tech is cars, trains, planes which are faster.

take the s9 antminer. 14thash using as much electric as 2 gaming PC's but producing as much hash power as double digit thousands of gaming machines



Plus electricity cannot be stored. Once its generated it should be used or else it goes to waste. There are some areas in the world that give big discounts to people to use more electrcity because the supply is more than the demand.

"Bitcoin's wasteful use of electricity" is propaganda to diabloize it.

▄▄█████████▄▄
▄█████████████████▄
▄████▀▀▀▀█████▀▀▀▀████▄
████▀██████▀█▀██████▀████
██████████████████████████
▐█████▄███████████████▄█████▌
▐███████▄▄█████████▄▄███████▌
▐██████▀█████████████▀██████▌
▐███████████████████████████▌
▀██████████████████████▀
▀████▄████▄▀▀▄████▄████▀
▀███████▀███▀███████▀
▀▀█████████████▀▀
  ▀▀▀▀▀▀▀▀▀
|
★.★.★   8 GAMES   ★   WAGERING CONTEST   ★   JACKPOTS   ★   FAUCET   ★.★.★
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▄█▀█▀█▄

 ▀███▀
  ▄▄▄
▄██▀▄█▄
██▀▄███
 ▀▄▄▄▀
  ▄▄▄
▄█ ▄▀█▄
██ █ ██
 ▀▄▄█▀
  ▄▄▄
▄▀▄▄▄▀▄
█▀▀▀▀▄█
 ▀███▀
  ▄▄▄
▄▀   ▀▄
█  █▄ █
 ▀▄██▀
  ▄▄▄
▄█▀ ▀█▄
██   ██
 ▀█▄█▀
  ▄▄▄
▀ █ ▀
▀▀▄▀▀
 ▀▄█▄
  ▄▄▄
▄█ ▄▀█▄
██ ▄▀██
 ▀▄▄█▀
|
Zin-Zang
Member
**
Offline Offline

Activity: 364
Merit: 11

Killing Lightning Network with a 51% Ignore attack


View Profile
October 24, 2018, 07:51:24 AM
 #17

Plus electricity cannot be stored.

FYI:
Electricity can be stored,

1. Batteries
2. Flywheels
3. Gravitational potential energy using a pumped hydroelectric facility.
4. Compressed Air Energy Storage
5. Rail Energy Storage
6. Molten Salt Storage
7. Thermal Energy Storage

Reference: http://discovermagazine.com/2015/july-aug/26-power-stash

 Smiley

I was Red Tagged because Lauda Blows Theymos to get back on DT
The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
Malamok101
Full Member
***
Offline Offline

Activity: 868
Merit: 100


Proof-of-Stake Blockchain Network


View Profile
October 24, 2018, 09:12:41 AM
 #18

Bitcoin + electricity = mining.
This is the way making profit in bitcoin I think bitcoin miners earn a lot of money from now and many year we already reach for mining Some people get rich for this method's of making profit. Until now mining is very profitable for them if they get lot of gpu miners.

AkxenStriX
Newbie
*
Offline Offline

Activity: 18
Merit: 0


View Profile
October 24, 2018, 09:24:59 AM
 #19

Bitcoin + electricity = mining.
This is the way making profit in bitcoin I think bitcoin miners earn a lot of money from now and many year we already reach for mining Some people get rich for this method's of making profit. Until now mining is very profitable for them if they get lot of gpu miners.

I might be wrong but this article is delivering strong point of the adverse effect for bitcoin mining. Mining with is not profitable sir,  i am the worst sufferer of that.
Crypto rev Thing
Newbie
*
Offline Offline

Activity: 98
Merit: 0


View Profile WWW
October 24, 2018, 12:42:48 PM
 #20

Bitcoin can only go Green by dropping the Proof of Work and moving to an alternative such as Proof of Stake.

The PoW miners have centralized control of bitcoin thru their PoW Mining Equipment, giving that up would give up their control.
They will never do it.

If you want energy efficiency, look into the alts as bitcoin is dead in the water on ever fixing their energy waste problem.


Your topic seems fully legit for me. I swear i think implementing PoS might solve the problem. But is it viable to think to restructure the Bitcoin Process.
Pages: [1] 2 3 4 »  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!