One year ago Bitcoin's network was consuming as much energy as Ireland. Now it has apparently doubled and now it is consuming 1% of the world's total electricity consumption.
https://digiconomist.net/bitcoin-energy-consumptionThis, in a time when the world is trying to reduce carbon footprints to avoid or slow down global warming.
Is Bitcoin sustainable as it is?
I don't think so - in fact I'm sure it is not. There is a limit to insanity.
More data here:
https://digiconomist.net/bitcoin-energy-consumptionWhat is likely to happen next? Which are your thoughts?
no its actually embarassing,
that 1 bitcoin transaction needs the electricity of a european houshold in 2.5 weeks
More than embarassing that is unsustainable. And when something is unsustainable, it usually doesn't last forever.
you dont say,
i even think entire market will decentralise away from bitcoin,
there will be institution managers with their own coins like "graphene coin" or "fusion coin", people have an interest supporting those coins, those coins are being released with economic consumption for doing certain products not for wasting electricity.
and they will matter much more
besides this forum lost 24% viewers in septembers thats a loss of 4 million from 16.8 to 12.8 million viewers per month
https://www.similarweb.com/website/bitcointalk.org#referralsi think the market will forget bitcoin, because the problem is that no one has an interest to support it, except those that own a lot of miners, or those that can build miners.
and thats the main problem, why the people stop caring about that coin.
I agree with you, and the fall will probably be spectacular. In fact, I think that the high prices of BTC are mainly caused EXACTLY by the fact that the network consumes so much electricity and for the miners it is necessary that the price rises to pay for their consumption, and with their wealth they can influence the price.