Post
Topic
Board Bitcoin Discussion
Re: Bitcoin mining will consume all the world's electricity by Feb 2020
by
audaciousbeing
on 30/11/2017, 19:24:54 UTC
So what do you guys think ? According to this it will happen before the next bitcoin halving which is due in (12 Jun 2020)

https://www.dailysabah.com/finance/2017/11/27/electricity-used-in-bitcoin-mining-surpasses-power-consumption-of-159-countries

Reading through the article, its just a speculation of what will happen but the issue here is the possibility of that happening because it then means that if bitcoin takes the whole of the world electricity, then banks will not work, government functionaries will also not work which then means that the whole of our lives will be put on hold since I have not seen a generator that can sustain the whole of the country.

How then are we going to use the bitcoin mined if we cannot even charge our phones and gadgets. Its simply something I see not happening in 2020 or forever rather I see more alternative ways to mine bitcoin which the government would have stepped in to stop it being mined on pubic electricity which is what the Chinese government are considering if not implemented already.