Post
Topic
Board Bitcoin Discussion
Re: Bitcoin mining will consume all the world's electricity by Feb 2020
by
tomahawk9
on 30/11/2017, 20:25:10 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
This is pure clickbait. I mean, "all the world's electricity"? really? so the whole world will eventually have a massive blackout unless btc mining stops? and here I thought the wave of FUD articles form the media was over. And what coincidence, this mining problem will occur in the same year as the bitcoin halving.

from the article:
This dilemma has raised environmental concerns over Bitcoins, in addition to those stemming from their legal status.

So it all goes down to this, huh?  yeah, this whole article was written to spread FUD. I'm not saying there isn't a btc mining problem, i think most of us know that mining takes a lot of power consumption (especially farms), and because of this, mining is illegal in many countries. But let's be honest, if something like bitcoin mining were to become a worldwide problem, i think the governments around the world and international environmental organizations would've taken care of the issue in no time, plain and simple. I think for now, this is mainly a local problem, especially in China.