They say Bitcoin is a waste of electricity

[Lionel]

Stop this nonsense of the Jew media accusing Bitcoin to be polluting, for the electricity it consumes.

Oligarchs and other powerful people run industries 1000x more polluting than Bitcoin.

And they just try to ban Bitcoin with excuses, because they don't like the idea of monetary freedom for the people.

What to say about pesticides (Monsanto), fossil fuel, industrial waste, electrosmog, chemtrails, etc.?
They don't talk about those of course, but try to stop Bitcoin even if it is orders of magnitude less polluting.

[Leviathan.007]

Some bitcoin haters usually try to say bitcoin is rat poison, scam or a trap and all the electricity people spend to mine bitcoin is the waste of electricity and this is not something new. because, many people are using regular electricity for mining and and this will take a huge amount of energy. However, since some people use solar panels to supply the electricity for mining none can complain. Even some nuclear power plants are starting to provide some electricity for mining.

[Coin_trader]

Is printing Fiat paper money is a waste of electricity and wood for paper?? 

Surely this statement is very one sided and the people who made this statement is perma against BTC. The reason was he didn't bought on early stage while he have a chance or he early sold his coins.

[freedomgo]

Waste of opportunity? That's stupid.

Bitcoin mining does not need all the electricity in the world to work, and even if it consumes a lot of electricity but if it can help the world with its decentralization which means transparency, I think it's necessary to support it. Bitcoin haters would say it's a waste of electricity but those who sees bitcoin's contribution to the world will understand the need.

[FlightyPouch]

How could that be a waste? There are a lot of people wasting electricity than those mining bitcoin. In fact, there are a lot of bitcoin miners that use renewable energy such as solar energy. If they will be talking about bitcoin like that, as the OP said, how about those people taking advantage or wasting the energy and even slowly destroying the world itself.

[BlackHatCoiner]

And they just try to ban Bitcoin with excuses, because they don't like the idea of monetary freedom for the people.

Most probably. They're trying to excuse themselves for their statements against bitcoin, which means they will continue this non-sense. Remember, not all people believe in monetary freedom.

Oligarchs and other powerful people run industries 1000x more polluting than Bitcoin.

Well, I fully agree with this, but there's something paradox with bitcoin. As long as mining is profitable, the difficulty will increase. As long as difficulty increases there will be more mining. This means that periodically, mining will damage the environment increasingly. This is how I see it. If you look at the chart, you'll observe that difficulty has slightly fall in the past years:

It is getting bigger and bigger, for how long? I won't be surprised if mining will be a small factor that the world will suffer from climate change in the next years.

[Cnut237]

They say Bitcoin is a waste of electricity

As long as mining is profitable, the difficulty will increase. As long as difficulty increases there will be more mining. This means that periodically, mining will damage the environment increasingly.

Not necessarily. Use of renewables is considerable, and is growing. The 'waste of electricity' argument will become less relevant over time.

A Cambridge University study last year into use of renewables in crypto mining found that 'the majority of identified mining facilities use some share of renewable energy sources as part of their energy mix', and that the average contribution of renewables is around 28%.



From page 84 of the report (my bold):

Less than a quarter of identified miners do not use any forms of renewable energy sources at all, although the energy mix of one quarter of facilities could not be identified. Certain regions such as Xinjiang Province in China rely almost entirely on coal. Nevertheless, weighing the farms by identified megawatts results in a similar picture and shows that cryptoasset mining is much less dependent on fossil fuels than anticipated. Identified facilities draw on average 28% of their energy requirements from renewables. However, the share of renewables varies considerably from one facility to another: while some only use a marginal proportion, others run almost exclusively on renewables. On average, roughly 28% of the total energy supply for both small and large facilities is generated through renewable sources. Among renewables, hydroelectric power is the most frequently used energy source. Nearly half of the identified megawatt capacity featured in the cryptoasset mining map is generated through hydropower. It is worth noting that the mining map identifies 30% of the lower-bound total energy consumption estimate. An interesting pattern emerges when comparing the energy mix with the location of the respective mining facilities. Regions with substantial green power sources seem to become attractive targets for miners, since these locations tend to overlap with places where there is an abundance of low-cost hydroelectric power that is unused and stranded. Energy in these locations is often cheap because demand cannot compensate the oversupply.

[naomi-the-cat]

Are you hating jews? No one is talking that btc is the main source of polution. However, its polution effect is growthing with every year

[BlackHatCoiner]

Not necessarily. Use of renewables is considerable, and is growing. The 'waste of electricity' argument will become less relevant over time.

Happy to read such thing. I hope it'll be above 50% in the future.

[Similificator]

If you really try to think about it more, it would be obvious that most of the time, all things that are of value or are important, be it a thing, a person or in this case, a crypto currency, there will always be people jealous and would always look for negativities or flaws to drag it down or to make others think the same way as them. it's really frustrating if you ask me. So I think it would be better for you to not mind things that you know are baseless and useless.

[slaman29]

No need to talk about polluting industries at least they are running economy like oil and all that cobalt mining (we love our smartphones and touch screens right?). But there are so many other industries that are just for entertainment and hundred millions of devices running for games and leisure and nothing else. Why not shut those down? At least Bitcoin is running transactions and finance and store of value!

[Wisbrown]

Many who doesn't know the important and the future of bitcoin are those saying none sense, the paper currency produce by country that get destroy after one year does it not a waste of electricity let alone a bitcoin that once a life time

[pinggoki]

Is printing Fiat paper money is a waste of electricity and wood for paper?? 

Surely this statement is very one sided and the people who made this statement is perma against BTC. The reason was he didn't bought on early stage while he have a chance or he early sold his coins.

This is really a bias topic because how can they say that the bitcoin is a waste of electricity and polluting us, bitcoin is producing cryptocurrency or digital currency then if the printing of paper money for the currency of a certain is also a waste of electricity because why they will print paper money and waste wood if people can use digital money? also the cutting of woods for making this paper money will be more dangerous and adding to pollution of the world.

[zanezane]

Not necessarily. Use of renewables is considerable, and is growing. The 'waste of electricity' argument will become less relevant over time.

People has been talking about renewable energy sources and why is it still not gaining any big attention? If the mines contribute to pollution because of electricity then we can't just set that thing aside, it is a serious problem that needs to be addressed. The problem with renewable is no one cares about it and no business in the energy/fossil fuel sector like them and I don't think that adding more renewable sources on the electricity platter is the answer with our current problem, I know that the output of renewable resources is good but the problem is we don't have the capacity to distribute all of it so we are wasting them because there is no storage for them, something that will last a long time. I don't agree that bitcoin mining is a waste of electricity, it has helped a lot of people and bitcoin is currently the spearhead of a new financial revolution.

[Red Pie]

Seeing the level bitcoin has reached in recent years, it would be strange that they weren't afraid. Looking at it, there is an attitude towards not only bitcoin but also other cryptocurrencies along with bitcoin. Because we all know that any negative developments happening in bitcoin are often reflected in other altcoins. That's why they want to influence the general cryptocurrency industry by making their accusations against bitcoin. banks do not like competitors. Those at the center of the system also do not like alternatives to the system.

[MyCryptoDomains]

I bet it's lower than the amount Banks use

[acener]

Everything is a waste if you don't like it , You wouldn't see it's value and how others are using it to help their life.
There are so many things that other could consider as a waste of money but it would depend on how you look at it and how you use it,
So let them speak about it they are free to say whatever they want as we all are but would their words inflict any threat on Bitcoin?

[Dave1]

This has been one of the weapons of entities that are against bitcoin. But so far they haven't succeeded yet because their argument is flawed. They can read one article about it, Stop Worrying About How Much Energy Bitcoin Uses.

[AicecreaME]

So ironic for them to say this. Imagine those huge factories that use electricities and emitting a lot of smokes every single day, that's the real pollution, and not in Bitcoin mining. Haters will always spread negative things about Bitcoin because they can't accept the fact that they are outside of the trend anymore. But we don't have to mind them, because we know better about Bitcoin and other cryptocurrencies.

The electricity we use in Bitcoin mining will never be wasted because we mine a legendary coin, not just some typical fiat that has inflation.

[Argoo]

When mining cryptocurrency, the usual thermal energy is released, which some use for heating systems. This energy does not pollute the environment and does not pose any other threat.
Now you can use various renewable energy sources - sun, wind, water, and these possibilities are enough to fully provide the population of our planet with energy. Therefore, the statement that mining bitcoin and other cryptocurrencies is energy-intensive and pollutes the environment is completely far-fetched.