Bitcoin Mining Electricity Consumption: Where's All the ...
Bitcoin Mining Electricity Consumption: Where's All the ...
Bitcoin Energy Consumption Index - Digiconomist
How Much Power Does It Take to Create a Bitcoin?
Global power consumption by Bitcoin mining tops 7 GW ...
Energy consumption by bitcoin is now comparable to the ...
Bitcoin - The Currency of the Internet
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In 2016, A Vice article was published which predicted that Bitcoin would consume more power than Denmark by 2020. As of a few days ago, Bitcoin's power consumption overtook Denmark.
Vice Article Bitcoin Energy Consumption Today So even past estimates have been way off predicting how much power Bitcoin will consume, is it possible that Bitcoin will screw over any chance of us achieving a clean energy future?
Bitcoin power consumption, once again. Where to find the most accurate calculations/assumptions.
As the old digiconomist's numbers, which have been proven wrong on a widely scale, are sadly still used by some people out there in MSM and forums to discredit Bitcoin, I'd like to know your 2018 sources or calculations about Bitcoins power consumptions. This Blog was last updated on January 29 2018 http://blog.zorinaq.com/bitcoin-electricity-consumption/ is this considered the most accurate or best guess?
[uncensored-r/Bitcoin] Power consumption might be the death of BTC
The following post by nowonmai is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7gc8fq The original post's content was as follows:
With all the exuberance over the continual stream of ATH never-ending meme-fest that goes along with it, it seems that the citizens of /bitcoin only focus on good news. There is a pretty dark shadow hanging over the future of BTC, and any other proof-of-work crypto, and that is power consumption. Any time this topic comes up, there are maybe 10 semi-serious replies and the topic rarely gets above double-figure upvotes... seems like nobody wants to have their happy place invaded by reality. So... some facts... today, the energy expenditure per transaction block is 275kWh (Source: https://digiconomist.net/bitcoin-energy-consumption) which is apparently the daily energy consumption of 9.3 US households... which in itself is a pretty high level of consumption. This is for one block. So the 0.05 BTC I sent my brother a couple of days ago cost (using my local energy costs) anything up to €38.50, which is (a) much more than the current TX fee, and much much more than the cost of the energy in whatever country the block was actually mined. The energy consumption, and more importantly, the CO2 output is, however, the same, being ~ 0.205 metric tonnes. (Source: https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator) Yes, there is a renewable component to this energy consumption, but by and large, mining concentrates in areas of low energy cost, and that generally equates with fossil-fuel burning. This may change in the future, but it will be slow... possibly too slow. Based on current transaction rate increase, current difficulty increase and current world energy production, there is an intersection point somewhere in the future where the energy demands of BTC transaction verification exceeds available energy resources. Add to this the fact that mining is a wholly consumptive process. It produces nothing except heat. Yes, it produces valid blocks, but only one block is valid... all other computation during that block cycle is completely wasted People get hung up on various hard-forks, fake news and propaganda campaigns, attempts at regulation and control by state and other entities, but the real threat is sustainability. If this isn't addressed, that will be the death of BTC.
[uncensored-r/Bitcoin] Any one that is a green and writes about bitcoins power consumption challenge me on my view.
The following post by Grumpassman1 is being replicated because some comments within the post(but not the post itself) have been silently removed. The original post can be found(in censored form) at this link: np.reddit.com/ Bitcoin/comments/7rcbq4 The original post's content was as follows:
Daily articles wrote about how much energy crypto mining uses are annoying me for a few reasons,firstly many are proper gander half truths (if that). The human race only advances because of power (not technology like some would like to believe). An example for a green who argues against power use,if we have a building site where all the men use manual tools it will take 10 times longer to build that building as it would a similar building using power tools. So power tool advance our economies. Greens and those that bully bitcoin mining are thick in the highest degree for this reason. What ever power bitcoin mining consumes or at what rate doesn’t matter period,as that power would still be consumed by other industries over maybe a longer period but for sure with the same global effect. So it not about how much and how quick,it’s about ultimately you will still globally use that power in time. Cut the bullshit once and for all you assholes and stop bashing energy consumption. Stop telling less developed countries what energy they can consume too now that the west has since the industrial revolution feathers its own nest financially on power consumption. Your nothing but hypocrites.
Alex de Vries, a bitcoin specialist at PwC, estimates that the current global power consumption for the servers that run bitcoin’s software is a minimum of 2.55 gigawatts (GW), which amounts to ... The skyrocketing value of Bitcoin is leading to soaring energy consumption. According to one widely cited website that tracks the subject, the Bitcoin network is consuming power at an annual rate ... That's because as Bitcoin's popularity soars, so does its overall global power consumption. An entirely digital currency requires a significant amount of computing power. The process of creating new Bitcoin ("Bitcoin mining") also requires a considerable amount of processing power. So much so that Bitcoin allegedly uses more electricity than the countries of Ireland and Denmark. Growth of Bitcoin Mining Electricity Consumption. While Bitcoin Mining is only currently consuming 0.13% of the world’s electricity output, it’s growing incredibly quickly.. The Bitcoin Energy Consumption Index estimates consumption has increased by 29.98% over the past month. If that growth rate were to continue, and countries did not add any new power generating capacity, Bitcoin mining ... To perform a cost calculation to understand how much power it would take you to create a bitcoin, you'd first need to know electricity costs where you live and the amount of power you would consume. More efficient mining equipment means less power consumption, and less power consumption means lower power bills. The lower the price of electricity, the less cost there is to miners—thus ...
Andreas Antonopoulos : Bitcoin's Energy Consumption and Media's Concern Trolling #CryptopiaFilm
Computations involved in mining Bitcoin are astronomical. Professor Phil Moriarty explains how estimating the energy useage is a Fermi problem. The paper Phi... Bitcoin - Energy Consumption & Ecology - Bitcoin and Cryptocurrency Technologies Part 5 - Bitcoin Mining We already know that Bitcoin relies crucially on mining. What’s the physical cost of a digital currency? The amount of energy that Bitcoin mining consumes is about the same amount as some medium-sized countries – a... Energy consumption in Bitcoin has almost nothing to do with the number of transactions. Should we start pricing in the externalities of carbon? How does Bitcoin mining fund alternative energy ... Interview snippet from our upcoming documentary "Cryptopia: Bitcoin, Blockchains and the Future of the Internet" Follow us on Twitter @TheEndOfMoney and check out our official website www ...