Is mining bitcoins not a waste of energy?

[ertuğrul 27]

Bitcoin, her şey gibi, daha fazla para kazanmak uğruna dünyayı yok etmekten çekinmeyen insanlığa karşı açgözlü, bencil ve sorumsuz binlerce suçtan biridir. Piyasadan milyarlarca dolar toplamak için tasarlanmış bir kumar makinesiydi. Hala öyle. Ancak bu mutluluk telaşı, Nevada çölüne yayılan Las Vegas kumarhaneleri gibi tüm dünyaya yayılmaya devam ediyor. Bitcoin üretmek için çok sayıda işlemci ve elektrik harcanırken, Bitcoin açısından zengin olanlar bu parayla gidip ormanlara ağaç dikiyor mu yoksa iklim değişikliği düzeltmesine mi yatırım yapıyor?

Edited November 29, 2020 by ertuğrul

[John smith 331]

If you have no high set up then buying a small miner is complete wasting of money. The miner will mine but very low amount. It will consume high electricity and took too much time. In alternate case if you invest that money on your self and learn technical analysis you can earn even double your portfolio within a month. 

[Yasin Yıldırım 10]

Yes, I think the waste of energy takes a lot of time and the awards it gives are very few, I think it is not worth doing, both a waste of time and a waste of energy.
 

[CryptoDuck 25]

Previously, there was a good opportunity to earn money on various mining services.Recently.There are a lot of projects that are quickly closed.Alas,(((

 

 

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[Penata 324]

Mining bitcoin cost a lot of energy to use from the tools and equipment that needs electricity and the air conditioned room to balance and cool down to avoid over heating.  Because mining bitcoin is continuous everyday in order for you to mine more bitcoin.

[huesca123 946]

@yifnt Many people forget about the electricity costs when they want to set up a mining operation. Also, miners create a lot of heat, so you have to cool it down with A / C´s, running all the time. Or live somewhere its cold, so you can cool the mining equipment by storing it in a cold room.

[zeshan1122 654]

the process is simple the miners do transections and they keep the fee so they also consume the electricity and mining is only profitable in the countries with free or very cheap electricity. 

[Mohammad Imran 86]

agree with your point of view that mining a bitcoin is not a waste of time. But we have to admit that it requires a lot of hard work and energy and money. Actually, the rewards for mining a bitcoin is going low gradually that why it is said that it will take 2140 to mine all bitcoins

[OVIROY21 499]

Yes my friend bitcoin mining is not wast of energy and time. Bitcoin mining is the best if you have good miner.nowdays bitcoin mining is the most popular mining crypto coin.i am not a miner but i prefer bitcoin mining. 

[althaaqib 187]

Yes, mining is a strong consumer of energy due to the environment it needs, and from my point of view, if there are no energy-consuming solutions, it will not have a future for development.

[humna khan 242]

We need to find the right coins ofcourse this is not impossible this network is made up of computer which obviously use electricity 

[RoyalHouse01 9]

when you see that the reward for the mining is reducing you can also see that the price of the coin is increasing too so it is still profitable to mine if you are already getting some benefits from the mining.

[ibrahim halil anaç 138]

When we think of other financial companies, the total waste of energy spent in these companies is many times more than Bitcoin mining. In addition, the rate of energy spent in Bitcoin mining is decreasing with technological developments.

[Flash009 345]

There are various benefits to the mining community, but now there are mining equipment that saves more electricity, above all they also provide using electricity so it is legal. And if mining stops, there could be hard things in crypto. 

[Mahmod aljarah 1383]

This is awesome. I added new information to my knowledge stock

But does this affect the value of the Bitcoin currency and what shape this effect is negative or positive?

[Muhammad Abu bakar 482]

Mining  bitcoins is not the waste of time.Rather it is a good way to use our free time.From.Mining bitcoin not only we get payment but we get to learn a lot from this.It is a precious job and we all want to keep doing it so that we can learn as well as earn.A lot of people think that mining bitcoins is the waste of time , however it is not so at all

[David84 1191]

Mining is very expensive , or at least this is how I see it. It needs very complicated devices they call them mines, and they consume a lot of energy "electricity", which is really expensive too and there is no guarantee that you will be able to get a Bitcoin after all this, what you can earn might not be equivalent to what you have already invested. So It is not suitable for me and I do not advise you to get involved in it.

[BinatGul 30]

What is the best way to get rid of BTC? And do you keep growing?

It is very much required in every request and it becomes mine. BTC has a long-term relevance that can only introduce green energy or use very little electricity. Easy to use, proof is the size of the network.

[lilisbet18 231]

Exactly the costs should be lower where they consume more electricity and maintenance, these are the extra costs that the miners generate, but nevertheless this came to revolutionize the financial system and thus with them generate less losses for the bank and financial companies.
 

[Rozy 1918]

Yes, in fact Bitcoin mining consumes a lot of energy and unfortunately electricity is very expensive and the results of mining are not guaranteed , so might end up paying from your savings for something that will not pay you back. Stay away from mining ad head towards trading.

[celeste10 251]

Undoubtedly, electricity is where it is spent the most because these are connected 24/7 a week and consume a lot of energy that is why it is something that they spend a lot on electricity the rest in their maintenance.

[JanBomCrypto 494]

On 1/6/2021 at 5:49 PM, BinatGul said:

BTC has a long-term relevance that can only introduce green energy or use very little electricity. Easy to use, proof is the size of the network.

@BinatGul I will like to know more about you comment, do you mean bitcoin mining takes little energy?

 

What I know about bitcoin mining is that it require miners, these miners are very powerful and generating high energy which takes high amount of electricity. But bitcoin is not a waste of energy, it generates energy in a way miners will be able to buy more energy with the profit from bitcoin mining. 

[Rizu 47]

Bitcoin mining is not a waste of energy. Bitcoin Mining is very profitable because Bitcoin Value in Increasing Day by Day .I suggest all of you that mine and invest in bitcoins. 

[Abrar1122 10]

When you are running in the mining cards and the graphic cards you need to to use energy for that so it takes the energy to mine any coin even Bitcoin if you want to save the energy just do something else

[Lx-Lana 153]

Sign me up like a historical system that uses more energy and human resources for the process? Some bitcoin miners are now starting to become environmentally friendly by using solar cells such as Ozinity Mining Farm on the BitcoinTalk forum.