Due to high level of energy consumption when mining bitcoin is there no other ways of producing bitcoin either by the use of computer or other means?
These are the
only ways to lower the consumption of energy used in bitcoin mining:
- 1. Increase the per hash cost of mining, by
- a. increasing the cost of energy, or by
- b. other means such as taxes.
- 2. Reduce the value of the block reward, by
- reducing the subsidy or the transaction fees, or by
- reducing the value of a bitcoin.