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Author Topic: Bitcoin’s Energy Consumption Grows, Now Comparable to Czech Republic  (Read 405 times)
Lizzie_Girl
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September 26, 2020, 07:20:23 PM
 #41

It's relative. Like so many others posting above have said. You can't compare a bear to a fish when it comes to climbing trees now can you? That's pretty much the same comparison here. I wonder how much electricity we use to make just one cup of coffee in the morning? Worrying about the effect bitcoin has on the environment is like trying to pick up dog poop with a poop scoop when just around the corner is a huge shit storm tornado.
It's a drop in the ocean. Falling asleep with the TV on uses more electricity.

Anyway, fiat needs energy too. Where do you think it comes from? People have to make it and distribute it and have a network of computers for it to work online. With crypto you can distribute directly to the miners the instance it is created.
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September 26, 2020, 08:32:20 PM
 #42

simple math
100e * 80j =8000
140e * 30j=3600

so we are using less energy than last year by more then 50%
It's not quite that simple. Such a calculation would only be true if all miners upgraded all their mining rigs every time a new model was released, which is obviously not the case. The majority of mining is not done on the most latest tech, and most miners will continue to run their older models until they are no longer profitable.

However, for the time being, the principle holds true - miners are become more efficient faster than the hashrate is increasing, so over time, electricity requirement is decreasing rather than increasing. How long this will continue to be true for is impossible to say, as it depends both on the advancement of ASICs as well as the changing hashrate. However, even if electricity requirements do start increasing, over the next decade or so I would expect the carbon footprint of bitcoin to continue to decrease as the minority of miners who are not yet using renewable sources make the switch.
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September 27, 2020, 08:23:05 AM
 #43

When haters don't have anything to blame about it then they come up with such an idiotic debates. So no one in this world wasting electricity for no reason?

Lot of rich people uses air conditioning in all over their home even to their garages which shouldn't have any use at all? What about banks they are using electricity and also damaging environment and also occupied lot of spaces in the busy cities.

I know right? The same people criticizing Bitcoin's energy consumption, are the same wasting energy like crazy in the mainstream world.


Let those that criticize the "wasteful" energy consumption be. They simply misunderstood two points.

- Electricity generated, but not used, is what's truly wasted.
- It's POW, not blockchain, that makes a stateless, censorship-resistant cryptocurrency possible.

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