Why does Bitcoin need more energy than entire countries consume?

[Mohammed33 461]

Hello my friends
Operating the cryptocurrency requires more electricity than some countries. So how could something hypothetical keep power plants around the world so busy?
With most of our lives digitalizing, we need more electricity to power these things. However, the encrypted digital currency, "Bitcoin", has far exceeded this need. For something that does not exist physically, Bitcoin needs a lot of electrical energy to ensure its durability. According to a study by the University of Cambridge's Bitcoin Electricity Consumption Index, machines that use cryptocurrency require more energy than those consumed by the Netherlands, a country of more than 17 million people.
As the value of Bitcoin has recently increased to more than $ 50,000, the need for electrical energy to power it has increased. Bitcoin supporters do not consider it a bad thing, as it creates a completely new financial system free of government interference. The cost of gold mining and printing money is also large, in terms of production, transportation and safety. Meanwhile, today's financial system with digital platforms and offices uses a lot of energy as well.

[Linaa2999 1645]

The reason for Bitcoin consumption is due to this quantum of energy because Bitcoin has been created according to huge mathematical operations that require a lot of energy to be accomplished and this thing makes Bitcoin safe it enjoys.

[Amelia1971 1338]

If my friend has read about the subject and it seems to me that it is because every day there are more people who use the internet and that is why everything is connected to electrical energy, it is not only that we are consuming but with the passage of time the electrical power stations They will have to review the solution in this regard since with the changes it will be used more.

[scorpiali 5626]

It's the technology of blockchain if the price of bitcoin is very high need s lot 9f energy to mine one bitcoin it's cost to much energy than all your house and your city this why at any time the price go up the difficulty go high to and all that need a high energy 

[Jasmin123 698]

On 4/8/2021 at 2:18 PM, Mohammed33 said:

Hello my friends
Operating the cryptocurrency requires more electricity than some countries. So how could something hypothetical keep power plants around the world so busy?
With most of our lives digitalizing, we need more electricity to power these things. However, the encrypted digital currency, "Bitcoin", has far exceeded this need. For something that does not exist physically, Bitcoin needs a lot of electrical energy to ensure its durability. According to a study by the University of Cambridge's Bitcoin Electricity Consumption Index, machines that use cryptocurrency require more energy than those consumed by the Netherlands, a country of more than 17 million people.
As the value of Bitcoin has recently increased to more than $ 50,000, the need for electrical energy to power it has increased. Bitcoin supporters do not consider it a bad thing, as it creates a completely new financial system free of government interference. The cost of gold mining and printing money is also large, in terms of production, transportation and safety. Meanwhile, today's financial system with digital platforms and offices uses a lot of energy as well.

Yes dear  friend this is absolutely right that bitcoin always require lot of energy as compared to many countries of the world and I wanted to know that which country  has create Bitcoin and as we all know these days it's rate is very high that's why it's mining also require a lot of energy.