BTC power consumption

[LucasTerry]

The argument against Bitcoin based on its energy usage is a ridiculous effort to disguise the true authoritarian ambition to control cash.

I am aware of this. You are aware of this. When confronted with it, the ordinary sycophant will tell you that everything that the government cannot control has no value. It's peculiar because it comes from all political parties, including progressives. I suppose the environmental saga sent a pretty strong message to those who paid little attention.

_{https://reason.com/2022/01/25/authoritarian-governments-ban-bitcoin-mining-the-u-s-shouldnt-join-them/}

[franky1]

article says that bitcoin consumes 188twh..
hmm

            today               year average   
            197exa                  150exa   
   that’s 197000000thash    150000000thash
1 asic is 110thash, which means      
            1790909.091          1363636.364   
1 asic is 3.25kw, which means      
            5820454.545kw/h    4431818.182kw/h
in mw   5820.454545mw/h   4431.818182mw/h
in gw   5.820454545gw/h      4.431818182gw/h
a day   139.6909091gwh/d   106.3636364gwh/d
a year   50987.18182gwh/y   38822.72727gwh/y
in tw   50.987wh/y   38.8twh/y

yep its more between 39-51thw not 188

also coming soon are 140thas asics for only 3kw
which using the same hashrate rates of
            today               year average   
            197exa                  150exa   
to tw    37.10298twh/y      28.251twh/y

yep 37% more efficient then last gen.

heck.. even if all asics were multiple generations old (all s9 14th at 1.4kw) even that number doesnt even reach 188thw
so those numbers of 188thw are fabricated based on asics slower than an s9

[Luzin]

Yes, this is one of the issues brought by the proposal in Russia, the proposal to ban mining activities and crypto-related trading there. They also think that crypto could threaten Russia's financial stability. This seems to contradict what I've read that there has been no ban decision even Putin once said that crypto might have been used as a means of payment in the past year, if I'm not wrong.
Regarding this Energy issue has also been on my country's bitcointalk local forum. Bitcoin does use electricity that is quite large almost equal to Qatar and Poland even its use exceeds that of electricity in Norway and Ukraine in one year. According to what I read, Bitcoin requires electricity of 135.1 TWh / year. Even Bitcoin also exceeds the cost of consumption for Gold mining. I don't know about the accuracy of this data, but Bitcoin looks to require a lot of electrical energy if I look at this data.  

Source: https://ccaf.io/cbeci/index/comparisons

[franky1]

Bitcoin does use electricity that is quite large almost equal to Qatar and Poland even its use exceeds that of electricity in Norway and Ukraine in one year.

sounds big when you think internationally there are 1.5 million asics.. but then you fabricate numbers to have power usage of 3-5x the actual usage.. and then decide to pick a country with less than 2x homes


funny part is norway consumption for 2.5mill homes is 120twh
funny part is mining consumption for 1.5mill asics is 38twh

reality is that bitcoin can 3x its mining (4.5m asics) and still be under norways 120twh consumption for just 2.5m households.

but hey, lets not talk about the actual numbers and instead fabricate numbers of 188twh mining to make things sound 3-5x worse than reality

[DapanasFruit]

The argument against Bitcoin based on its energy usage is a ridiculous effort to disguise the true authoritarian ambition to control cash.

I am aware of this. You are aware of this. When confronted with it, the ordinary sycophant will tell you that everything that the government cannot control has no value. It's peculiar because it comes from all political parties, including progressives. I suppose the environmental saga sent a pretty strong message to those who paid little attention.

_{https://reason.com/2022/01/25/authoritarian-governments-ban-bitcoin-mining-the-u-s-shouldnt-join-them/}

There are now many ways that we can counter this energy argument...and many miners are now using green energy plus we are soon to see El Salvador get into BTC mining using geothermal power which is one of the cleanest source of power we can find. Now talking on progressive, saying that it includes the progressives is an understatement all because control and centralization run in the veins of the people who belong to that block. You can find more people in the Republicans and in moderate Democrats who can like Bitcoin but with progressives it can be so hard to find some support for cryptocurrency - just take Elizabeth Warren, for example. Yes, this is all about control and when these politicians know that there is something that they can't control then they will do everything to destroy it by discouraging people not to participate on it. These politicians will just pass one day but Bitcoin is scheduled to be here for the next 50 years and beyond.

[aoluain]

This is an interesting article regarding the much debated Bitcoin Energy Consumption.

Its well written apart from ^{if franky1's numbers are accurate} the 188twh consumption,
but what I was waiting for when reading through it was something like this:

Is this really our most pressing energy concern, or might there be ulterior motives?

Bitcoins energy consumption is an easier target than attacking the likes of social
media data centres or the huge amounts of energy used to extract Lithium for battery
making, Coal mining still continues for its use in solar panels, these are never going
to be addressed because governments are to far into it and they are under their control.

The author also did his research on Satoshi's stance on consumption:

As with most debates over bitcoin, the topic of mining and the environment had
been hashed out and settled over a decade ago. As Satoshi himself put it in 2010:
"The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity
used. Therefore, not having Bitcoin would be the net waste."

Bitcoin improves lives by giving people access to a financial system without inflation,
confiscation, or control. It is good that we expend energy to give people this freedom.

Governments dont want an alternative finance system for all of their people, the FIAT financial
system only benefits the few so there are obviously many reasons to attack Bitcoins energy consumption.

[electronicash]

greta and elon must have been part of these shenanigans as well don't you think?
now they are trying to create these E-cars these days for us to shift. never did they think that any dumbass can figure out where the electricity comes from but from the oil we extract.

they were saying that the network consumes like the energy of Argentina. it's just a tiny country compared to the energy spent on the banking system alone.

[zasad@]

The argument against Bitcoin based on its energy usage is a ridiculous effort to disguise the true authoritarian ambition to control cash.

I am aware of this. You are aware of this. When confronted with it, the ordinary sycophant will tell you that everything that the government cannot control has no value. It's peculiar because it comes from all political parties, including progressives. I suppose the environmental saga sent a pretty strong message to those who paid little attention.

_{https://reason.com/2022/01/25/authoritarian-governments-ban-bitcoin-mining-the-u-s-shouldnt-join-them/}

Electricity consumption is not the most important issue. Without the consent and support of the most powerful American politicians and businessmen, Bitcoin did not appear on the world's largest exchanges. Even if bitcoin is banned, the ideas of dedentralization can no longer be stopped. There are other decentralized cryptocurrencies based on the POS algorithm.

[tbct_mt2]

Bitcoin does not consume more energy than many nations or many industries. Bitcoin does not use too high proportion of un-renewable energy than others.

However, it is bad because it is Bitcoin that in turn makes it as a target of accusation for environmental issues, global warming etc.

Bitcoin Mining Council Survey confirms sustainable power mix and technological effeciency in Q4
Bitcoin Mining Council Q4 Briefing