Does bitcoin waste electricity?

[Soaib khan 1035]

no bro bitcoin not wasting electricity or computer powers bitcoin is important for life i  dont think bitcoin wasting eelectricity or internet

Edited January 2, 2020 by Soaib khan

[Saad233 1]

The word “bitcoin” is as likely to garner feverish excitement as it is glaring criticism. The financial community sees speculative promise in the form of trade that currently has little to no regulation. Meanwhile, others argue that it’s a distraction that detracts from the overall longevity of U.S. financial institutions. 

Bitcoin’s energy consumption has become a recent talking point in the debate. A Forbes article published May 30 indicates that bitcoin dramatically increases global energy consumption – and that electricity is its “Achilles heel.” 

 

[piggiemay 8]

they said yes though i am not really am expert with regards to mining blah blah blah..

[awaiskhan 175]

There are majorly three ways to earn bitcoin normal which are trading investing and mining and as you are saying about wast of electricity is concern with mining and as you will mine bitcion in return of it you will get bitcoin which have good value in market

[lingardcpp24 7]

It consumes electricity only when you try to exploit it, it is really very expensive. Electricity and internet are all you have to worry about when you dig it.

[jmigdlc99 360]

While it does consume quite a lot of power, it really is blown out of proportion because printing money and coins actually costs more natural resources if you come to think of it. People saying bitcoin is not nature friendly are just looking flaws without using their brain.

[Roomi 1119]

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... 

Bitcoin not itself wastes electricity, actually bitcoin mining is now difficult to do. As block difficulty increases and electricity consumption become high and charges of electricity also increasing day by day. We can say that mining in not remain profitable for small investors

[Shahud 1319]

as we know bitcoin is a digital currency and any digital thing wants electricity for  production..and in the return we will give the charges for the utilisation of the same..so here nobody can blame that it wastes electricity.

[Ayush Singh 1175]

I don't think so how can we say that bitcoin is wasting electricity there are many more reasons why the wastage of electricity is increasing, Bitcoin is the only exchange medium where users invests and get returns it consist of work done.

[Upright 2688]

On 11/10/2019 at 2:55 PM, Thekingcallme said:

Yes, mining equipment consumes electricity, but other plants consume more electricity, such as hydrocarbons factories and electronics factories.
That is why I find it a weak argument and is not a disadvantage to me

When most people bring arguments to downgrade the cost of electricity which miners consume, which is less relative to what major industries consumes.

A blind eye is on them, while the they argument on why bitcoin is even mined

[Ahmedabdallah12 169]

I think btc waste electricity in the process of minning so it's better to establish some companies of solar energy specialized in minning btc and not waste the electricity used in our houses

[Naga 1250]

3 minutes ago, Mitali said:

Yes Bitcoin mining requires high computing powers, and it also requires electricity for mining power. Also for mining bitcoin requires big mining farms, so eventually it requires high electricity. It's have somewhere heard a fact that around 80%/90% mining is done through Chinese mining farms.

i think whether the mining is energy efficient or not depends on the country that you are in while mining because some countries could have 200kw for just 3$ while other countries give you the same electricity for 10$.

[Whydoyoucare 1094]

Yes bitcoin mining is really consuming a lot of electrical energy, but i think there is a solution from that, if you do like solar energy or like wind power something like that.

[CryptoMaxim 3829]

On 26.11.2019 at 11:51, duncun007 said:

i think people used up every argument they could come up with to stop bitcoin from mass adoption and this electricity argument is also one they made up, tell me what other thing we use  for online work doesn't consume electricity? 

Perhaps they mean mining the farm. Without which the bitcoin network will not work. But in this case, nothing phlogogenic because the holders of farms pay for electricity.

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[duncun007 3577]

16 hours ago, CryptoMaxim said:

Perhaps they mean mining the farm. Without which the bitcoin network will not work. But in this case, nothing phlogogenic because the holders of farms pay for electricity.

i think when it comes to electricity it depends on which country you are living in,because some countries have cheap electric bills and they are the best when it comes to mining.

[DidaNahrisya 165]

Yes, bitcoin PoW mining is consume a lot of electricity, my friends told me if he spend more cost to mining electricity and is so high than the profit he got

[Wijayafajar06 274]

For me this is no problem because all of them are working to need electricity such as the internet and communication tools, not just Bitcoin but companies engaged in the industry need electricity and all this is relative.

[pulokdeb 61]

It seems to me that Bitcoin wastes electricity because we make money from it and we have a lot of electricity to work on and I think that is but I cannot say CO.

[Sid 589]

I don't think so, because the results of crypto currency mining are quite large and cover operational costs. Better than using electricity just to watch TV 😅

[Lard79 103]

If you mining to get bitcoin by your equipment i think is yes, but if you use cloud mining is not, to see all you can prof it, for example look at task manager on your computer. it show you all activity when you online. compare it. 

[Daveyoung182 389]

Good morning mate, ahmm bitcoin does not that bitcoin electricity because its only in your computer,the computer is using the electricity but if you are talking about bitcoin mining then it really consume a lot of electricity.Nowadays bitcoin mining is not considered profitable because of the electric bill.Happy posting mates.

[gigabyteRTX 1583]

Well, I guess it depends on what you are doing to earn crypto or what, the only thing I treat as waste is mining, why? If you don't have a great power equipment in mining, then you are just wasting electricity and other resources such as internet connection, etc. 

[Win 1015]

If you are into mining yes i think there is an electricity but when you are just only investing nor buy and selling bitcoin i think no.but if you have 10-20 computers this is possible that you can earn mire than the electricity you used

[nicolas1234789 2566]

If you're a miner the answer is yes but if you only bounty hunter, trader or investor, electricity is not the problem. Mining is expensive method to make money and should have powerful equipment and enough electricity supply. Out side mining no need wasting electricity just wasting time and money.