The Bitcoin Energy Consumption Problem

Golden9 · Jul 21, 2023

For a while, this was a problem that was harped on by environmental advocates and those who do t like cryptocurrency.
Bitcoin mining consumes a lot of energy and some countries ban it to conserve energy for their own use

There were proposals on how we can get to use safer energy for mining. How do you think we can do that, and is it really possible?

Bisolami · Jul 23, 2023

Golden9 said:
For a while, this was a problem that was harped on by environmental advocates and those who do t like cryptocurrency.
Bitcoin mining consumes a lot of energy and some countries ban it to conserve energy for their own use

There were proposals on how we can get to use safer energy for mining. How do you think we can do that, and is it really possible?

It consumes a lot of energy and that is why I think a lot of people always say that it is not good to mine bitcoin on the phone because it may damage the phone

Smalto · Jul 30, 2023

The high level of energy consumption associated with bitcoin is the reason why people are finding it difficult or somehow discouraging to purchase some bitcoin mining equipment, it consumes a whole lot of energy, and very expensive to maintain compared to what you can mine in a day, together with the noise it causes

oldbuddy · Jul 30, 2023

Golden9 said:
For a while, this was a problem that was harped on by environmental advocates and those who do t like cryptocurrency.
Bitcoin mining consumes a lot of energy and some countries ban it to conserve energy for their own use

There were proposals on how we can get to use safer energy for mining. How do you think we can do that, and is it really possible?

Sounds like propaganda to me, probably based on false news in the first place. Some people will say anything to get their own way.

Bisolami · Aug 1, 2023

Smalto said:
The high level of energy consumption associated with bitcoin is the reason why people are finding it difficult or somehow discouraging to purchase some bitcoin mining equipment, it consumes a whole lot of energy, and very expensive to maintain compared to what you can mine in a day, together with the noise it causes

And another thing is that a lot of people are complaining that it is too expensive and that is why you cannot see it among commoners because so many people cannot afford to buy it

riberet19 · Aug 5, 2023

if we compare the energy consumption of Bitcoin with the energy consumption of the oil industry is minuscule, and which do you think does more damage to the environment, on the other hand in the latest reports Bitcoin is already almost 60% of its production being generated by green energies, this speech is already a bit obsolete and it seems that we are in 2013 talking this stuffs.

uptrendfinancialsignal · Aug 8, 2023

The development in cryptocurrency is made many crypto projects to use eco-friendly and energy saving protocol mechanism. This is what we expect in the future of most of the cryptocurrency projects especially of bitcoin.

Bisolami · Aug 10, 2023

uptrendfinancialsignal said:
The development in cryptocurrency is made many crypto projects to use eco-friendly and energy saving protocol mechanism. This is what we expect in the future of most of the cryptocurrency projects especially of bitcoin.

Technology improves every day and that is why we are going to find new things everyday but I know that the cryptocurrency world is still going to be better than this after a while

Golden9 · Aug 11, 2023

riberet19 said:
if we compare the energy consumption of Bitcoin with the energy consumption of the oil industry is minuscule, and which do you think does more damage to the environment, on the other hand in the latest reports Bitcoin is already almost 60% of its production being generated by green energies, this speech is already a bit obsolete and it seems that we are in 2013 talking this stuffs.

It's still a real concern out there though. Environmentalists believe firmly that even cars are dangerous, Bitcoin seems like a perfect target for them.

uptrendfinancialsignal · Aug 13, 2023

Bisolami said:
Technology improves every day and that is why we are going to find new things everyday but I know that the cryptocurrency world is still going to be better than this after a while

Technology is improving and that a lot of inclusiveness in the technology. This is why anyone that wants to grow especially online should get acquainted to the recent development in the technology world.

Bisolami · Aug 13, 2023

uptrendfinancialsignal said:
Technology is improving and that a lot of inclusiveness in the technology. This is why anyone that wants to grow especially online should get acquainted to the recent development in the technology world.

The people who have grown up to where they are today have included technology in their business in one way or the other so it is advisable for everyone to do the same

jetsaints30 · Aug 14, 2023

Golden9 said:
For a while, this was a problem that was harped on by environmental advocates and those who do t like cryptocurrency.
Bitcoin mining consumes a lot of energy and some countries ban it to conserve energy for their own use

There were proposals on how we can get to use safer energy for mining. How do you think we can do that, and is it really possible?

I think that there are ways to make bitcoin mining more sustainable and use safer energy sources. One way is to use renewable energy sources such as hydroelectric, solar, wind or geothermal power but I also think that there are still many challenges and barriers to overcome like regulation, cost, scalability.

eldavis · Oct 18, 2023

Bisolami said:
It consumes a lot of energy and that is why I think a lot of people always say that it is not good to mine bitcoin on the phone because it may damage the phone

Yes there have been lots of stories about people who have blown their phones and even fry their laptops just to mine Bitcoin. This is why people usually use high end machines for mining.

oldbuddy · Oct 22, 2023

I am still using my old Dell desktop to run CryptoTab Browser for my third year and still no problems, just another 1,000 Satoshi deposited to my NC Wallet there and adding to the 6% Daily Compound Interest it pays me. It takes me maybe 2 minutes to make that transfer a couple of times a month, but other than that I do nothing I would not be doing anyway. That's what I call Passive Income and it adds up.

Nite · Mar 16, 2024

One solution to the energy consumption issue of Bitcoin mining is to transition to using renewable energy sources such as solar, wind, or hydroelectric power. By harnessing these sustainable energy sources, the environmental impact of cryptocurrency mining could be significantly reduced.

flower · Mar 21, 2024

The energy consumption of bitcoin as raised concerns and that is why so many crypto enthusiast have condemned it lately a lot of crypto project have started to move into energy efficient consensus.

Nite · Mar 22, 2024

Moving towards more energy-efficient consensus mechanisms is a positive step in the right direction. By adopting greener practices, we can help mitigate the negative consequences of cryptocurrency mining and contribute to a more sustainable future.

nomad · Mar 24, 2024

Crypto mining consumes a lot of energy, however, there are multiple solutions. You can use renewal energy sources like solar energy, hydro energy, wind power, and even geo therbmal energy.

Nite · Mar 25, 2024

By utilising renewable energy sources like solar, hydro, wind, and geothermal power, we can help mitigate the energy consumption associated with mining cryptocurrencies. It's great to see that there are viable solutions available to make this industry more eco-friendly.

King Belieal · Apr 15, 2024

I think the most important thing is that the mining industry should explore alternatives to ensure that their energy consumption on mining activities is greatly reduced.

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