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Author Topic: Bitcoin could wind up consuming more electricity in the future  (Read 29751 times)

Crypto

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Bitcoin could wind up eating 5% of the world's electricity
Even more, the quantity of electricity presently utilized by a single bitcoin transaction is equal to the electricity an average residence in the Netherlands uses in a month.


Economist and blockchain expert Alex de Vries, who operates at PwC in the Netherlands, forecasts that if bitcoin's cost and need carry on and raise, it could end up eating 5% of the world's electricity later on

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Re: Bitcoin could wind up consuming more electricity in the future
« Reply #1 on: May 21, 2018, 12:39:38 PM »
Many Persons don't get mining bitcoins not important coins like nano fix this spend of power

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Re: Bitcoin could wind up consuming more electricity in the future
« Reply #2 on: May 21, 2018, 12:41:06 PM »
Electricity is not a finite entity. We are living in the stone age when it comes to the ability to harness abundant energies that come from the sun and H2O. Not to mention nuclear which we don't even really need. Musk said he could facilitate enough electricity to run the entire US off one small patch of solar panels and battery packs. What does wasting energy even mean? Are you seriously worried about the impact of energy consumption from bitcoin mining? What a laugh.

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Re: Bitcoin could wind up consuming more electricity in the future
« Reply #3 on: May 21, 2018, 12:42:03 PM »
People need to realize that this is an actual issue. The energy consumption today for BTC is completely crazy today and those saying it's not should actually take a look at those numbers. That being said, PoW probably will not be the standard and we will probably find renewable ways to source that energy, and the current banking system has a lot more costs, even if not electric, to perform the same transaction. To those saying this doesn't matter though, your trading ideas are what don't actually matter and if you are willing to compromise on things like the well-being of the planet then you might want to take a hard look in the mirror and ask yourself if you really want to be successful by fucking other people over instead of helping them, which has become the standard blockchain/crytpo approach so far to be honest.

abu123456

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Re: Bitcoin could wind up consuming more electricity in the future
« Reply #4 on: July 01, 2018, 05:47:34 AM »
this is awesome