Is mining bitcoins not a waste of energy?

[betania1 283]

I have noticed that currently there are many mining sites in the new and maybe it is better than mining with gpu and electricity directly, so it is a personal decision but everything you mention makes a lot of sense because it is something of a lot of expense for few profits .

[KarlJohn1 56]

What you can use to mine and generate the money to pay more for electricity, is that one waste of energy? That is not waste of energy. With it you can use your profit to buy more miners and buy more energy. Which means bitcoin mining can even produce energy not waste of energy. 

[JanBomCrypto 494]

54 minutes ago, KarlJohn1 said:

What you can use to mine and generate the money to pay more for electricity, is that one waste of energy? That is not waste of energy. With it you can use your profit to buy more miners and buy more energy. Which means bitcoin mining can even produce energy not waste of energy. 

You are very correct and I can agree to all you said, if I can mine and the mining is profitable and venerate more energy for me from the profit, that means bitcoin generates energy. I think that is totally correct. 

[Naveed15 335]

If you are having a mining rig and running your own rig for mining BTC they it could be worthy but if you are not mining on satisfactory level then it is no more then waste of time as well as waste of electricity also. 

[Thechamp 287]

Mining of the Bitcoin is the not wastage of the energy. Because according to the current price of the currency of the Bitcoin the mining of the Bitcoin has become very popular in these days specially when the price of the btc is increased.

[Mahmod aljarah 1383]

The energy spent on mining operations is very high due to the complexity of the remaining algorithms of Bitcoin currencies. Many resort to these processes because it covers the cost of their production with increases in their daily lives.

[Alex Morgan 420]

Nothing is bad it's about time. Which thing has it's time. You should always do that thing which is passing through good time. No doubt mining is not passing through good time. But you can't say that it is waste of time overall. 

[JanBomCrypto 494]

23 hours ago, Shan hafiz said:

Sign me up the same as a traditional system that uses more energy and human resources for the process right. But now there are mining tools that save more electricity. 

Using new miners will safe energy, like antminer s9 that is now old consume more energy and low profit if compared to antminer s19 that is new like a year or two years ago which is more efficient and not consuming electricity. 

[teebasas 3018]

Yeah, I agree with you that the beginning was good and profitable in terms of energy saving, but with the passage of time it becomes more waste and energy losses will be greater than the achieved profits.

[Sunny7391 55]

I think mining doesn't take too much energy it just use your connections that should be good in quality. And for me free mining is a best solution for bitcoins. Mostly apps are fake that just oaly with your efforts but thoe who provide you bitcoins pay best for it. 

[itera 1]

On 05.11.2019 at 00:17, Migo said:

Я думаю, что добыча с использованием хорошего оборудования - это не трата энергии, вы можете получить хороший доход, если следите за своей работой, да, это стоит денег, но вы будете зарабатывать, если у вас есть опыт 

yes, but now it is very difficult to buy good equipment, it costs a lot of money and pays off for a long time

[Hala Hala 178]

It is not considered a waste of time if you can achieve high profits from it instead of the expenses that you will pay on mining, but if you cannot achieve profits and there is great damage to the device and a high waste of energy and the interest you will get from it is a little, then this is considered a waste of time.

[alikhan59 542]

No bitcoin mining is not waste of time. It is very good for future. I am new on this forum and making our posts useful and helpful to the other members. This forum gave you a lot of knowledge and experience about crypto currency. 

[Hennry martin 106]

I am new on this forum and making our posts useful and helpful to the other members. This forum is real and very good for earning and learning at the same time. This forum improve your English language. I am making our posts useful and helpful to the other members.

[lana00 29]

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

[kion 381]

As far as  mining is concerned, it is actually important but only to those coins that are yet to be launched, but for coins like Bitcoin which has already been launched, I don't see how it mining is any useful, I will rather trade it instead of mining.

[MrSpasybo 1049]

@starwill As you said, hash power or hardware resources & electrical power are used to ensure the decentralization and safety of the Bitcoin network. However, this also makes people look bad about Bitcoin because it consumes too much electricity. I think it would be better if Bitcoin switched to using POS instead of POW, so decentralization is guaranteed while minimizing energy consumption to become more eco-friendly.

[Adam X 323]

Mining with good equipment is not wasting energy, you can make good income if you kept an eye on your work, yes it costs but you will earn if you have experience.

[Maya20 1048]

 Mining is a waste of time in the absence of the necessary energy and tools, so it is necessary to buy suitable mining equipment and provide continuous electrical power in order to mine coins, mining is not that easy. 

[Whited35 15285]

On 3/6/2021 at 11:56 AM, F Roberto said:

Yes mate. I agree you for the fact that it yields a good profit at the beginning and saves a lot of energy but in the longer run one later discovers it consumes energy and the stress one would undergo would later end up much more than the profit gained.

Electricity is not generated from hydropower everywhere to fulfil the majority of electricity demands. Some countries are using fossil fuels to generate electricity which has caused the increase in carbon emissions. Bitcoin mining needs the consumptions of electricity to run the hardware mining components and here is no doubt, Bitcoin has the demerit to consume high power. 

[Reen 1120]

 If you are earning lots of high profit in mining cryptocurrency, then it is not waste of time.Actually,The mining is best way of earning and for this purpose more power need and when you generate the crypto coins. If someone need to mine bitcoin then he/she need good equipment and tools.

[ammarkhkkh 753]

No, I do not think, Bitcoin mining requires a lot of energy and a lot of hardware for mining, and if you value mining on a weak computer, it causes risks to it, mining needs electricity and moisture permanently.

[ItxAiza 222]

Yes bitcoin mining is not a waste of energy just if you want to mine the bitcoin then you have a high expensive machine to mine the bitcoin. You have to not to work for it just the machines will mine the coin and you can earn a high amount from that. 

[Usmanch 15]

I am new on this fourm. I am working hard to earn money and gain knowledge about this fourm. I am making our posts useful and helpful to other members. This fourm is real and trustful fourm. This fourm is very good for earning and learning at the same time. 

[Rutherford Adam 67]

Yes dear its possible of mining bitcoin.We can easily mining also in our cell phones and the better option is PC (Personal computer).So it's not waste of time or waste of energy.We can easily start earnings on it.