Crypto and energy consumption

[JohnyBitcoin]

Just want to put this out there. What is the problem with crypto mining and energy consumption? Yes, I know you'll raise environment concerns, I get it.

However, consider this: a civilisation is measured by its energy consumption. Before we discovered fire and used any stone tools, the only energy we had was whatever our bodies produced. Then we discovered fire, made tools, invented the wheel, etc. Until now, when we use computers, robots and other machines to help us live. Our life expectancy and quality of life has increased dramatically.

Shouldn't we concentrate our efforts on using clean renewable energy, rather than restrict our use of it?

Frankly, if there is a problem with too much energy consumption, we should go back and live in caves, and hunt in groups.

[1714774168]

1714774168

[1714774168]

1714774168

[1714774168]

1714774168

[1714774168]

1714774168

[pealr12]

I don't know why this has suddenly been an issue to burn the whole market down so drastically, crypto mining and energy has always been this way since from day 1, anytime you read about how btc is mined you read about the energy and the way it affects the environment and all, why coming from Elon Musk becomes something new when it is not! We are still very immature in this space.

[Bitbtc8]

Same here, light and energy are infinite and yes thanks to science things are more easier for human beings now so I don't see the reason why this is an issue, im already using green energy in my home for years now and my mining farm is running on solar panels and backup only, maybe the war against BTC mining is on already?

[TheMimic1]

Same here, light and energy are infinite and yes thanks to science things are more easier for human beings now so I don't see the reason why this is an issue, im already using green energy in my home for years now and my mining farm is running on solar panels and backup only, maybe the war against BTC mining is on already?

Probably cos many idiots and clowns are ready to follow this new crypto Messiah called Elon Musk who actually know nothing about crypto and blockchain, there are large numbers of people that just like bowing and following the rich and their words

[Skinny48]

If Elon thinks that BTC mining is bad for the environment then he should release his own version of BTC and named it Green BTC or something, I'm pretty sure this man will end up the way that McAfee did, he his getting outta control and he doesn't know it

[OcTradism]

Shouldn't we concentrate our efforts on using clean renewable energy, rather than restrict our use of it?

Miners already use renewable resources: hydro, wind and solar, from big to small mining farms. I agree that this environmental friendly mining is not popular and big enough but why so serious?

If coal supply is here, on this planet, people will use it for many use cases, from mining to other activities in society. The same source of coal will be used, burnt without Bitcoin mining.

When the supply of coal is less and the technology for renewable resources become more popular, feasible, people exclusively miners will use it more. Mining farms if possible can set up mix energy supply from coal and renewable resources for day and night time.

[o48o]

Shouldn't we concentrate our efforts on using clean renewable energy, rather than restrict our use of it?

Yes, but how sustainable is growth going to be? On what rate and how much can we keep providing renewable energy when the usage grows potentially exponentially? If we can actually have a PoS solution, why not explore that (and i know we are but i am responding to your question) instead and actually contribute to growth solution. Currently we are shooting ourselves in the foot and blaming the bullet manufacturers should just make only rubber bullets.

[Lantind]

If Elon thinks that BTC mining is bad for the environment then he should release his own version of BTC and named it Green BTC or something, I'm pretty sure this man will end up the way that McAfee did, he his getting outta control and he doesn't know it

I am also confused by Elon Musk's way of thinking so that he said BTC mining is bad for the environment, even though the assembly of mining machines only uses electricity without having to emit smoke like a factory in general.

[bhadz]

Frankly, if there is a problem with too much energy consumption, we should go back and live in caves, and hunt in groups.

Elon must read what you've said. He's too concern about the energy consumption of the miners but his business is more rotating with the usage of energy. We're not going back to the past and energy consumption in every place and in every industry. That's what they're forgetting. I don't understand these people that are bringing up the issue about energy being used by the miners as if it's the only money making machine that does that.

[elda34b]

If we can actually have a PoS solution, why not explore that (and i know we are but i am responding to your question) instead and actually contribute to growth solution.

It's a matter of which one are you sacrificing for scalability and the energy consumption. IMO if you do believe that PoS is the future, then you can make a fork and encourage others to do so. I believe some people already do this but I don't know which one has enough support. In the end it lacks incentive and the solution is centralized, leaving some users to trust the validators without enough control.

[DarkDays]

I don't know why this has suddenly been an issue to burn the whole market down so drastically, crypto mining and energy has always been this way since from day 1

Amen.

We are still very immature in this space.

I would say that, yes, we are far from being efficient or optimal but efforts are being made alas not at the speed we'd like to see but at least we're heading in the right direction. No breaking technology is perfect from first time, it needs many reiterations time and time again and the energy problem is one that we do need to address with more renewable and sustainable energy sources. All work in progress...

[Looper_U]

Confuse me if I'm wrong but I've never heard about a small town that loses people to some kind of new sickness caused by bitcoin mining or have you? Bitcoin mining have been ongoing since 2009 and till date I don't see any damages to the environment, musk is turning himself into a joke, fingers crossed for now

[Atang Sulaeman]

a mining does require a large amount of energy, especially bitcoin, but not all of the electricity used to mine from fossil materials can also be from water turbines, and that too is the use of existing natural resources, which can be from wind energy or water to drive existing turbines. , and if Elon thinks that BTC mining is bad for the environment using fossil materials then he will have to find a solution for him to make his own version of bitcoin.

[Fesatmas]

Excessive consumption of electrical energy will have an impact on dangerous levels of natural ecosystems, but the problem is in what kind of realm is this impact? and I have never seen waste like this except in the international news stories that talk about the biggest mining.

So far, this information has only been shown for big miners as well as pressure on entrepreneurs to make other alternatives by transferring their function to using energy other than electricity. even though we all often do extravagant, even on a small scale.

[Bitstar_coin]

This has been a calculated attempt by Elon to dump the price and he has succeeded, Elon already knows that btc mining don't is not so dangerous to environment as oil does, he just capitalise on this to be able to dump the price and he has succeeded.
Try and Read this "Fossil fuels, including coal, oil and natural gas, are currently the world's primary energy source. Formed from organic material over the course of millions of years, fossil fuels have fueled U.S. and global economic development over the past century"
This clearly shows that fossil fuel have been serving thr USA for centuries, btc is just a decade,  Maybe Elon needs a little dip research.

[wxa7115]

Just want to put this out there. What is the problem with crypto mining and energy consumption? Yes, I know you'll raise environment concerns, I get it.

However, consider this: a civilisation is measured by its energy consumption. Before we discovered fire and used any stone tools, the only energy we had was whatever our bodies produced. Then we discovered fire, made tools, invented the wheel, etc. Until now, when we use computers, robots and other machines to help us live. Our life expectancy and quality of life has increased dramatically.

Shouldn't we concentrate our efforts on using clean renewable energy, rather than restrict our use of it?

Frankly, if there is a problem with too much energy consumption, we should go back and live in caves, and hunt in groups.

At the end of the day this is nothing more but an excuse to try to attack bitcoin, in the past we heard things like bitcoin was a Ponzi or a scam but those arguments cannot be made anymore as bitcoin has lasted more than a decade, it was the best possible investment during that time and now institutional investors are coming to the market.

So they are trying to find something else to attack it and they are using its energy consumption against it, which is ridiculous as having a strong from of money is critical for civilization to take place and without it we could argue we will never reached our current progress, so do not mind those people as they do not know what they are talking about.

[JooBra]

There is much more to crypto than mining. Mining is proof of work, but there are other options types like stacking, proof of coverage etc. Mining was the foundation of crypto space but with time space will evolve and grow.

[DeathAngel]

It’s just an FUD tool used by tree huggers, gov shills & banking peeps. The fiat banking system uses way more energy than bitcoin/crypto mining. It’s a weak arguments spewed out by idiots.

[crzy]

Energy consumption becomes an issue to creat FUD but seriously, the consumption is huge but I can’t imagine how much energy and raw materials do you need to print fiat money? I guess this should not be the real issue here. I don’t panic on that kind of news, i just focus buying a cheaper good coins because I know they’ll rise again.

[abel1337]

Energy consumption becomes an issue to creat FUD but seriously, the consumption is huge but I can’t imagine how much energy and raw materials do you need to print fiat money? I guess this should not be the real issue here. I don’t panic on that kind of news, i just focus buying a cheaper good coins because I know they’ll rise again.

Famous people can easily create FUD and by giving the "Energy consumption trap card" to people and giving FOMO on those cryptos who are more "greenier" than the other one. Energy consumption is getting bigger and bigger over the past few years because almost everything now relies on energy and adding new technologies such as electric cars will make the consumption go higher. Since the born of bitcoin, Energy is required for it to be operated so why do people use their energy trap card now when they can use it before. It's just for FUD I guess.