Post
Topic
Board Altcoin Discussion
Re: Can we reduce the energy consumption of POW? And whether it is necessary
by
o48o
on 20/12/2023, 21:39:12 UTC
Crypto mining is the least energy consumption people need to worry about, there are a lot of other stuff that consume massive energy. Food processing, transportation, .etc. According to this article, https://bitcoinmagazine.com/business/bitcoin-energy-use-compare-industry Bitcoin only consumes 0.28% of energy of total energy consumption by Transportation.

https://www.techopedia.com/bitcoin-mining-and-energy-statistics#:~:text=According%20to%20the%20New%20York,cooling%20throughout%20the%20US%20annually.

In here, Bitcoin mining consumes roughly 0.5% of all energy produced worldwide.

That number is insignificant, even if all the miners stop, energy crisis will still happening. 
Sure, but it's a tough sell to justify it for something people see less important then transportation and foode. Nocoiners don't generally see bitcoin as a net positive or even as a solution to anything. And it's hard to argue back when most of the crypto people seem to want centralization and synthetic bitcoins if it brings us more money. And when that centralization part is being attacked by officials, it immediately affects to bitcoin's price. Even though bitcoin should have nothing to do with it.

And when it comes to question of OP, so far i haven't heard any proof of work that would mean less work/power consumption. The answer is literally in the acronym.