Quote from: jimblasko on October 06, 2017, 08:06:02 PM

The aggregate energy spent on the production of crypto-currency bitcoin exceeded the energy costs of quite large countries. For energy costs, bitcoin has already outstripped, for example, Tajikistan.

How much electricity does bitcoin consume?

DigiEconomist charts show that to date, the total energy consumption for the extraction of only one of the crypto-currencies - bitcoin - is 14.6 terawatts-hours. By the way, Ethereum consumes three times less - only about 5 TW. Well, Tajikistan consumes slightly less than bitcoin - 13 TW.

And what about other countries?

Well, if you continue the list of comparisons, then, for example, compared with the energy costs of Belarus, this is only half the amount. Or only 10 times less than electricity consumption in Ukraine. Well, 70 times less than the energy consumption of the whole of Russia.

This is impressive, I knew that POW was an energy hungry progress but I never imagined that it was so big but at the same time bitcoin is more valuable than many currencies of the world so I think it is only natural that bitcoin spends that much energy but I agree that something must be done to lower the amount of energy being spent by miners.