Post
Topic
Board Bitcoin Discussion
Re: Bitcoin to use 0.5% of world’s electricity by end of 2018
by
Phlaser
on 17/05/2018, 21:36:29 UTC
More work in the morning industry of Bitcoin. This will increase more to be supplied in order to meet up with the power required for effective mining. Bitcoin is changing the world



Quote
The estimates, based in economics, put the minimum current usage of the bitcoin network at 2.55 gigawatts, which means it uses almost as much electricity as Ireland. A single transaction uses as much electricity as an average household in the Netherlands uses in a month. By the end of this year, he predicts the network could be using as much as 7.7 gigawatts—as much as Austria and 0.5% of the world’s total consumption.

https://www.livemint.com/Money/3wU3b1IuMYZTl47zYkkcmN/Bitcoin-to-use-05-of-worlds-electricity-by-end-of-2018.html

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.