Post
Topic
Board Bitcoin Discussion
Re: Bitcoin to use 0.5% of world’s electricity by end of 2018
by
HabBear
on 17/05/2018, 15:50:15 UTC
With mining facilities looking to be more and more electrically efficient with the coming years, I feel they will be pushing our electrical technology to tiers that will help us on a global scale.

I don't think mining facilities are necessarily striving for power usage efficiency, but they're certainly trying to find power cost efficiency. There's a very big difference between the two. Mining operations need the electricity, they don't care how much they're using to keep their mining machines going, they just want it to be low cost. And finding renewable energy sources isn't always available or cost effective.

It would be great if some of these mining operations sought to improve energy usage efficiency because those trial-and-error learnings could benefit the entire world.

the mining is getting busier as there's only 4mil coins left, right?

Mining is getting busier because Bitcoin is at $8,000 each. It's the revenue that can be earned that's driving the work. It'll take more than 100 years to mine the remaining 4 million coins.