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goddog
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June 11, 2018, 05:14:40 PM
Last edit: June 11, 2018, 06:00:34 PM by goddog
 #1

old images from 2014:(source not checked https://drive.google.com/file/d/1TIma781rLFjr-dqeJmL2KN06OpoRkSsj/view)

actualizating this data I see:

bitcoinwisdom say me:34110255484 GH/sec
antminer S9:0.098J/GH
365×24×60×60=seconds in one year

34110255484×0.098×365×24×60×60÷1000000000÷3600000×600000=17569783.276742592=17.569millions  tonnes co2/year



where I'm wrong?
please tell me I am wrong.


EDIT: lol 98J/TH=0.098J/GH not 0.98J/GH , sorry for the mistake

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bitmover
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June 11, 2018, 05:44:19 PM
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You are wrong because most of mining operations take place in China, near hydroelectric dams. So mining does not produce all that CO2, because this is a somehow " clean " energy source.


Also, you can think of Bitcoin energy consumption in a different way

I believe that Bitcoin can hasten the adoption of renewable energy sources.

Bitcoin can become a sponsor of solar energy. As cryptomining is profitable, people could buy solar panels and use the excess energy produced to mining operations, as they require a high amount of electricity and solar panels produce more energy than a single house consumes.

Bitcoin mining can be an environmental subsidy to alternative energy all around the world because it's causing these projects to be amortized over a year instead of five.

It's very easy to criticize bitcoin mining because it's too obvious. More obvious than the energy consumption of Visa, for example, which not everyone is aware of how much energy they consume.

More information about here: https://www.youtube.com/watch?v=2T0OUIW89II (Andreas Antonopoulos.)

That are claims that Christmas lights consumes as much energy as bitcoin mining.
http://www.coindaily.co/2017/12/14/christmas-decorations-consume-as-much-electricity-as-bitcoin-mining/

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June 11, 2018, 05:45:14 PM
 #3

old images from 2014:(source not checked https://drive.google.com/file/d/1TIma781rLFjr-dqeJmL2KN06OpoRkSsj/view)

actualizating this data I see:

bitcoinwisdom say me:34110255484 GH/sec
antminer S9:0.98J/GH
365×24×60×60=seconds in one year

34110255484×0.98×365×24×60×60÷1000000000÷3600000×600000=175697832.76742592=175.69millions  tonnes co2/year

in 6 month we will pass the entire banking system....

where I'm wrong?
please tell me I am wrong.

it's important to understand what the number will be when bitcoin reaches the market cap of fiat currencies or gold. I think then it will cause much more pollution than fiat and even gold mining.

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June 11, 2018, 05:52:03 PM
 #4

there is already hydro mining that can reduce electricity costs to 85 percent lower and without carbon pollution.
goddog
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June 11, 2018, 05:59:29 PM
 #5

just corrected a decimal point, lol ...
I think decentralization will always be less efficent than centralization, so it is normal for bitcoin mining to be less efficent than the entire banking system.

Like someother say, I hope that mining industry will start soon investing a lot of money and intelligence in finding better ways to produce energy, so it can be good for the entire environments.
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