Does bitcoin waste electricity?

[Tasrif Hossain 271]

This is one of the most problem for bitcoin. This reason some Miner exit in Bitcoin. This the one of the down point of crypto currency. This problem face Miner. I think this is one of the difficult problem for bitcoin mining.

[Black_Sword 539]

It's a no for me because in Bitcoin is you wasting electricity but your are earning than to the wasting of electricity for leisure time without earning. So i think that it's ok for me to waste electricity while earning.

[Fatihgani12 348]

Well, computers and the internet need electricity, I disprove this argument with petroleum, natural resources, and also cannot be predicted whether it will run out of mind because of the basic ingredients of electricity.

[Nakamoto 279]

On 11/10/2019 at 8:25 PM, Rashel said:

There are many arguments against wasting not only electricity,but also computing power.. 

Computing power includes internet. Electricity... 

Let someone else with the capability to mine for you. All you have to do is relax and learn to trade. There is a purpose in mining, and electricity is not the main thing for you to deal with.

Edited December 18, 2019 by Nakamoto

[Sagor 500]

I dont think so. to make profit we need to use energy but if you want to do hardware mining then it may cost much energy.

[Dinesh09798 283]

I think bitcoin doesn't waste electricity. Because bitcoin is a system and peoples are using it. people can waste electricity bitcoin can't waste it. This thought is totally wrong. I don't believe in this.

[Md San 0]

I don't think bitcoin waste a such amount of electricity. Because if you mine by investing in a trusted site then you can earn easily by seating on your chair.

[pakjobhelp 1585]

Bitcoins:-

 Bitcoins mining use the more powerful supply of electricity but after mining the bitcoin it fulfill all the expenses which we bear during the mining of bitcoins process. Bitcoin mining is work on algorithm and in this way this process need more powerful supply of electric.

[Syedbesharat 5423]

2 hours ago, kotopes7 said:

Yes bitcoin mining waste too much electricity and it is not an eco friendly project but people still developing it because of its potential but i prefer to do staking because it doesnt require to much energy unlike mining.

I think you have misunderstand mining.In mining the cost is very expensive and they have to invest more to gain less profit.Before 2017 boom it was very profitable for miners but now it become very expensive.

[Suhannewaz 245]

The burning of large quantities of electricity is not accessory to Bitcoin: instead it is in the innermost center of the currency, as the "mining" operation. To put it simply, bitcoin mining is a competition that uses useless arithmetic quintillions every second to waste maximum electricity.

[tienda 8776]

 

On 11/10/2019 at 9:05 PM, bichou1584 said:

Yes, I think it is wasted without any added value.  The complexity of solving complex algorithms is not a productive idea. There is a lot of electricity consumed and expensive mining equipment. All this is a waste of energy and participation in polluting the atmosphere.

Yes you are right. Mining now is not profitable and this is the reality.

[melikf78 987]

are we wasting Paper for money?of course we are not! bitcoin is as valuable as money! if you want to get valuable thing you have to give something electricity is what you have to lose to get btc

[Haitam 36]

To mine bitcoin SHA 256 algorithm must have a lot of electricity but other coins based on scrypt mining like litecoin doesn't waste a lot of electricity like bitcoin do 

[Syed Rehan 231]

The bitcoin mining takes the electricity for running the computer. So, it wastes th electricity .But it is also a source of income of money. So, the mining is very profitable, The mining income is greater than the cost of electricity

[Beromnia 733]

Hello my friend
Good topic,
The computing power has been known to us in internet and electricity consumption, my friend does not agree with you
I think the power of computing lies in consuming the power of the processor a large percentage, add electricity

[Oxygen 1004]

In bitcoin mining boards graphic cards and internet is being used. difficulty level of bitcoin mining is too much high and electricity consumption also increase gradually. so bitcoin mining at small level is no more profitable. 

[Kazi Mazharul Hoque 113]

Yes bitcoin mining is waste so much electricity  Because bitcoin's production ratio is very low against electricity cost. Bitcoin price is not increase enough.   

[Bloody_BTC 10]

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[andrehol 16294]

Electricity production will grow thanks to bitcoin. I do not think that the city or village will be left without electricity due to bitcoin. In the 21st century there is no shortage of electricity.

[YodaBTC 22]

In some sense, yes, if the electricity they are using is not from the natural resources such as wind, solar panels, and water turbine. Instead, if they are using electricity from big companies that offers it then probably a big waste of electricity is consumed.

[Aereen 456]

On 11/10/2019 at 9:25 PM, Rashel said:

There are many arguments against wasting not only electricity,but also computing power.. 

Computing power includes internet. Electricity... 

This is when you are into bitcoin mining, and according to study and to some youtube videos, in order for one to actually mine bitcoin you need a specific graphic card for your computer and these graphic cards use a lot of electricity. 

[Romaan1987 601]

On 11/10/2019 at 6:25 PM, Rashel said:

There are many arguments against wasting not only electricity,but also computing power.. 

Computing power includes internet. Electricity... 

actually few years ago the difficulty level of bitcoin mining was very less then today. so mining of bitcoin is now difficult and electricity consumption high than before.

[AlexGreyCryptoman 73]

Yes, it’s direct, what kind of nonsense, when you are sitting on a computer or watching a movie do you not really think about electricity? At least there is a benefit in exchanging cryptocurrencies, using electricity you earn your own money, which can not be said about the benefits of a computer and a TV.

[patitaycute 648]

On 12/31/2019 at 8:03 AM, vivoy90 said:

For mining purpose I think btc consumption of electricity is required so we can say btc mining need some kinds of electricity but trading can be done on laptops and smart phone. 

Mining requires a lot of equipments including the cooling technologies to prevent over the heating of computers and internet (router) as well. That's why mining consumes high electricity to earn.

[Jeet Narayan 1940]

I don't think so bitcoin wasting electricity because if bitcoin wasting electricity than no body using Crypto. After few years bitcoin will use very low electricity for transaction.