Is mining bitcoins not a waste of energy?

[McCree 713]

On 10/18/2019 at 5:49 PM, Devh said:

In some time the bitcoin mining was profitable but later on the bitcoin mining is so hard so it considered very tough and we need alot of energy for its mining. Mining need electricity, electricity comes from grids, grids connects from dams and other resources, resources run from coal and fuel may be in some countries. So think own way as we need to put dioamond and gold for print some paper currency the same way is with btc. So its only profitable in long term holding.

But diamond and gold are sometimes mined with slave labor and human labor abuse especially in Sierra Leone. Bitcoin is mined with a large tax on electricity which makes pollution and over half of them are centered in Sichuan, China where there is an abundance of cheap hydroelectricity, which might have been created by overflowing valleys which is destroying nature.

[Whydoyoucare 1094]

I think if you use the right equipment for mining i think it will lessen the energy comsumption not so sure about the logic about it. but still mining is really great also to earn profit.

[Md San 0]

I think mining bitcoin is not wast of time because if you invest in a legit site you can earn a lot from a mining site. It's helpful for you. 

[BitMart 326]

Surely this is not waste of energy as most of miners using renewable energy for making good profit its money invested in the most secure financial network on the earth even though bitcoin is very small then banking system but its probably more efficient. this bitcoin already 3 time more energy efficient then banking system.

[Cryptominded 704]

On 2/4/2020 at 7:17 AM, BitTim said:

Yes mining bitcoin is not a waste of energy there is alot of more advantages involved at it makes me feel good and I would wish to say that we should all expect to see increases in the cryptocurrecy market and also the Mining industry will also benefit 

Indeed it cannot be said to be a waste of energy, because at the end of the day Bitcoin far more valuable than the cost of the energy used is the end result. If all said and Bitcoin mined is worth less that cost of energy then that would be a waste because of other more gainful use it could have been channeled to.

[melikf78 987]

absolutely its not wasting time or energy.bitcoin is the most valuable coin in crypto world and mining is one the main ways in crypto for making money if you mine btc in correct way you will get profit only if you trying to mine btc with your computer or any weak device is wasting time 

[Man 741]

On 2/7/2020 at 10:13 PM, lala Balarukh said:

Those who claim that mining bitcoin is energy waste just try to spread FUD throughout the internet. There are many more pointless activities that consume much more resources than bitcoin mining, but none of them are damned

Maybe the aim is not to mine. We do know that mining requires energy, but that will be proportional to the results. Compared to waste energy but there is no feedback.
 

[KURTAULI 1297]

In my opinion, MINING is not a waste of energy. MINING provides network security and speed. Web hosting also needs electricity

[Ovis25 135]

On 10/8/2019 at 5:44 PM, NuttyProf said:

But the truth is that most hardware miner for mining bitcoin in the market still consume lost of electricity, until we have hardware that are optimized to not consume electricity, Bitcoin mining is not for newbies and the little guys.

Instead buying expensive ASIC hardware, you can buy cheap GPU miners that are cost effective, and consume little electricity (unlike ASIC miners) and can be use to mine some less network difficult coin that you can sell for Bitcoin.
 

That is how the little guys are currently getting Bitcoin from mining activities.

You are defiantly correct for long many of us have been getting it all wrong, everything you have just made metion of is all we need to flow with, by so doing is an advice for us to learn more.

[Brushless4500KV 4214]

On 2/9/2020 at 9:08 PM, Inocet said:

I have a couple of low-power mining programs running on my computer where I earn around 1000-1500 sats. a day. One of them have a referral program so the amount of crypto mined will increase over time

Small scale mining of bitcoin is a waste of time and money because the cost of operating devices + cost of electricity will surpass your earnings but large scale mining is both profitable and cost-effective because you will earn much more than what you invest in maintaining mining tools and the energy required to keep them running. So, if you can't afford mining bitcoin in large scale, you had better forget about bitcoin and choose other coins with simpler mining difficulties like Doge.

[kadayakito 765]

The fact is that mining a valuable currency is good, but with difficult mining and the price of electricity, working with great intensity to mine produces a small value. I think bitcoin mining is really not worth it and is a bit of a waste of energy.

[scorpiali 5626]

I think in my opinion it's really a wasting time and energy without any profit, I have try a lot of way of mining on my phone my computer but without anything with value just some satoshi without value or just fir some centes 

[Jocund 86]

Yes, it is wasting energy. But cryptoworld needs mining that is why we cannot refuse from it, but maybe it would be better if we use solar panel energy. By that we could save enormous energy.

[feitiodist 5]

You require a tall sum. But while your referrals begin to allude others it receives to be simple to result in a part of them. It is the start of the project that may seem a bit hard in my involvement.

[Fadimah 191]

On 10/8/2019 at 5:44 PM, NuttyProf said:

But the truth is that most hardware miner for mining bitcoin in the market still consume lost of electricity, until we have hardware that are optimized to not consume electricity, Bitcoin mining is not for newbies and the little guys.

Instead buying expensive ASIC hardware, you can buy cheap GPU miners that are cost effective, and consume little electricity (unlike ASIC miners) and can be use to mine some less network difficult coin that you can sell for Bitcoin.
 

That is how the little guys are currently getting Bitcoin from mining activities.

Wow. That's a nice idea for upcoming miners. Though mining is kinda hard but it's worth it when you start seeing coins. 

[Goody28 259]

In some ways bitcoins mining could be seen as a waste of energy but what am sure about bitcoins mining is that it tends to consume lots of electricity charge

[Lubruselu 2803]

Actually the cryptocurrencies mining is using high amount of energy than the profit that's you'll got, that's why its better to mine cryptocurrencies by using your own source of energy

[Castorito 0]

Well, it's not a waste of energy  'cause there are group of people who regularly mines bitcoin. That may be a proof that it is not a waste of energy, and also if you think it is a waste then you will not earn one because mining bitcoins is one of tens or hundreds of way to earn one, using miners are the easiest way to earn but it will cost you alot, but it's worth the money you spent if you will try and be patient.

[Luciferludz 1442]

Sure the bitcoin mining its not waste of the energy, but the bitcoin mining it is the costing of energy, because it would cost you more than the profit you will get

[silvergain 271]

Depending on hardware configuration because if your hardware is poor then you will not able to make good profits by mining coin. the cost of energy would be higher rather than your mining profits. so this case you will able to make only few dollars for mining entire month. in this scenario i will say its waste. but to avoid waste of your time, you need good gpu or rig.

[Georgesmaks 17]

Mining bitcoin is wasting for electricity and energy you have to give more power to get little I think you have to invest in other coin is easy to mine BTC is very difficult to mine nowadays before it was easy

[Whited35 15285]

There are some good ways to get money from mining. I wonder why people are getting bored from mining? You just need the good commonsense and trick to earn from mining. You need to purchase hashrate on some legit mining sites to earn income. All are not fake. 
 

[Beromnia 733]

Welcome with me
The best alternative to bitcoin mining is to rely on renewable energies like solar energy
The disadvantage of mining is its contribution to the high level of electricity consumption and thus more pollution

[Diana Putri 31]

Mining has advantages and disadvantages in the network, however now there are mining instruments that spare greater power, after all they likewise use power by paying so this is real. Also, if mining is halted there may be troublesome things to crypto

[MrGeany 297]

well it depends on the bitcoin price and right now its too low for getting good prfit it must be around  12 to 15 K to get good profit. untill you may pay only bills and hardware and not make good profit.