Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is now consuming 1% of the world's electricity. Is that sustainable?
by
Bonsaiav
on 20/11/2018, 22:54:23 UTC
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-consumption

This, 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-consumption

What is likely to happen next? Which are your thoughts?

It seems clear, as said by gentlemand, the amount of electricity consumed by miners has triggered the emergence of some creative ideas among electricity developers, both by individual companies and by the people themselves. With renewable energy, I don't think this has become a problem for the government or society. Honestly, at the moment I don't know the state of the number of miners, are they currently experiencing an increase or even the opposite?

If we talk about the benefits, in my opinion bitcoin is the only best alternative for countries with weak economies especially for countries affected by hyper-inflation. Meanwhile bitcoin hasn't been completed in solving the economic problems of the community, I'm very confident this condition will make the existence of bitcoin more calculated, and go further (long life). Because basically, bitcoin can we rely upon more its positive benefits and can provide maximum benefits for its users.