Does bitcoin waste electricity?

[Moon 88]

Yes it does waste energy, but I do not care, I just want it to waste more so the price will go up and I will get more money. That's how we roll 🤣

[hakimgentlemen 671]

For the moment I have not received my electricity bill yet! Because in this month I have a lot of trading on several scales and I think that if you win is no problem! The real problem is when the market is falling and the electricity bill is growing!

[josephrioveros123 698]

I think you would waste electricity and computing power if you just mine in your own computer that is not meant for mining. I think you should mine using the proper equipment so that you will have  a good income. But if you would answer forum learn about bitcoin. That is not a waste of electricity. Because by that you will learn a lot on the forum and by that you can equipped your self with proper knowledge to be used to be productive in this industry. 

[on1k3n 470]

On ‎11‎/‎10‎/‎2019 at 5:25 AM, Rashel said:

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

Computing power includes internet. Electricity... 

I would strongly agree with this one, and it's not really necessary. We need to find a way to mine with less power consumption. It really puts a strain on my laptop, but I keep doing it anyway. Imagine a coin that can mine itself.

 

You would just need to set up a wallet address, and it will do the rest. That would be the life, I'm hoping this will be the case in the future. 

[Joker 124]

On 10.11.2019 at 17:25, Rashel said:

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

Computing power includes internet. Electricity... 

I guess the question posed is wrong. Bitcoin itself does not waste electricity, if you trade or make a transaction or exchange. Electricity is wasted if you use bitcoin mining equipment (Asic). The mining process itself consumes electricity

[Scottsummers 347]

Btc is a massive waste of electricity. But something that costs money has to be sacrificed to give it value. I often wonder what the puzzle is that BTC mining is solving. The whole thing was likely designed by the old cypher punks and seems insane that we are just solving an ever increasingly difficult puzzle to release imaginary coins. Only the electricity and hype gives btc its value. If electricity was free. Btc would be free. And that's why mining is banned where the electricity is basically free. 

[Mang Ruben 7]

Bitcoins really consume electricity, money, effort, and time. But with diligence and proper management of your Bitcoin account, the consumption of these can really compensate the money you earn from it. If a user's Bitcoin account become successful, the electricity consumed will be ignorable. Another thing, there is no profitable job that has no risks. A user should be willing to sacrifice things for the name of business and financial success. 

[Emma 611]

On 11/10/2019 at 7:25 PM, Rashel said:

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

Computing power includes internet. Electricity... 

It costs a lot of electricity. when any computer runs for solving any transection, it costs electricity. so, obviously bitcoin costs electricity.

[chicck 22]

If you are related to Bitcoin mining, do not. It does not waste power because exploiting my people who are handling the Bitcoin transactions and without it, no transaction occurs. You can not buy, sell or transfer Bitcoin.

[ibtismanipun 120]

I don't know if bitcoin wastes electricity directly. But indirectly it surely does. The miner which were being used to mine bitcoin requires electricity.

[bean 515]

No Bitcoin doesn't waste electricity, things are only waste when they are not used for good, all electricity consume by bitcoin for mining or transaction are for a good and beneficial purpose so it is not wasted.

[Angelina 64]

To my knowledge, Bitcoin does not waste any computer power and current...On the contrary, with Bitcoin, we can earn bitcoin that improves our economy..

[FaithJoy06 170]

On 11/10/2019 at 9:30 PM, SUGI5091 said:

For the needs of transactions and new creation. Indeed, bitcoin requires a large power source. But all of this is a reasonable requirement, and hopefully the latest updates can be found for this problem. Some people say that butcoin is detrimental because of this, even though something big does in fact require large resources as well.

No bitcoin does not waste electricuty because in bitcoin someone cab gain and earn so much money. Someone can make their time and effort productive

 Someone can build a strong relationship with their family and bond with friends amd gaining much money at the same time.

[pangitmo 186]

If you mine then yes, it waste electricity. Mining uses a lot of energy so it is very hard to earn from it. If you only trade or something, then it might not waste electricity.

[teminalibug 309]

If you mean mining, then yes, a lot of electricity is wasted on bitcoin mining, But I'm sure engineers will find solutions for those, but those solutions are going to be very expensive.

[KrIsP.Kreme 40]

If it is mining or faucets I will agree for that, Perhaps these two are waste in electricity and time consuming. Mining that needed to online 24/7 the computer to collect bitcoins and faucets needed to collect depends on the time matter.

[fuer44 1083]

yes, this is one of the negative sides of bitcoin. with bitcoin mining activity, the device used to suck electricity is quite large and it's not good for the environment. and besides that, the activity of bitcoin users also uses quite large internet data which also has a less good impact. if bitcoin can reduce it all, bitcoin will be very effective and environmentally friendly.

[Afrizal rahman 2636]

It depends on the way each person thinks. for me all of that must be done because we play in the world of technology, if you want to get satisfactory results we have to sacrifice something. the most important thing is to be active so that the results are the same as our efforts.

[Naylor89 1223]

It can result bad or good but the purpose why bitcoin created is to help community and people so it won't be too much a problem if it uses a lot amount of electricity. There are industries that use more than that but we don't benefit from them yet.
 

[febriyana 934]

Yes, if you use the newest ASIC miner that is like waste electricity. For example Antminer S17 need around 2920 W.

If you have alternative power source like river, maybe profitable. But if you use normal power, i don't believe that will gain big profit, maybe less than expected.

[pangitmo 186]

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... 

Yes, there are so many steps to do and each of that requires high electricity to work. It should be worth it.

[doriahailee 643]

Logically it is true because the electricity consumption of some hardware miners can reach 1000 Watts + but this is still small compared to the payment hardware system currently in use. Currently there are alternatives such as miners that use solar cells such as OgNasty and there may be others.

[yifnt 666]

Consuming electricity in what way? please you should make the topic clear for this forum because many replies do not understand your post

[ASDFGHJKL17 267]

Hmm..  i think yes, but all i know is it depends on you on how you use bitcoin, but for me i think it's a yes that bitcoin waste electricity. 

[CryptoBoy20 170]

Yes in the time of bitcoin mining bitcoin take too much electricity that's why in my country no one try to mining bitcoin because in my country electricity bill is too high.