Today I read this article.....
https://www.ccn.com/bitcoins-electricity-usage-could-power-all-of-austria-in-the-future/It says in 2018 Bitcoin mining may consume 0.5% of worlds electricity in 2018.
I think this is because the mechanism "PoW" of Bitcoin. It costs a lot of power. And it looks like this statistics only includes Bitcoin, but there are still other coins can be mined.
I am sure for some people this is not environment-friendly and this could be used as the reason to restrict Bitcoin.
Will this affect the future of Bitcoin? or will there be any new energy-saving mining method for Bitcoin or other coins? How do you think about this?
If you compare with fiat currency, cryptocurrency energy cost is still far from them.
for example if you use paper money, you need to cut trees to make paper, electricity for production machines, waste products, etc
I don't think electricity consumed by bitcoin miners will have negative effects on bitcoin future besides it's already known and for the New energy-saving mining method it will be a very good development if that will happen in the nearest future it may be faster and more reliable compare to the present methods and machines.