Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Why Bitcoin mining isn’t a waste of energy?
by
Arvin01
on 18/08/2021, 01:33:57 UTC
⭐ Merited by RainbowKun (1)
Your logic is really good. Read your other posts. Each article has something worth learning. But for some people who like simplicity, they will choose to skip when they see your article.

Many people think that mining does not produce social value, so mining is a pure waste of resources. This is a misunderstanding.

The essence of mining is that global miners use algorithms and computing power to maintain a (relative) absolutely safe and decentralized currency system. Essentially, all electricity costs, graphics card costs, ASIC R&D and manufacturing costs are maintained. ,Are maintaining this system.

Compared with other industries, Bitcoin mining does not consume a high proportion of electricity. Secondly, most of the mining farms are located in places with abundant renewable resources.