Quote from: DannyElfman on July 07, 2014, 03:17:03 AM

Quote from: ernie- on July 04, 2014, 07:02:03 AM

Quote from: Skele on July 04, 2014, 05:58:36 AM

Technology stills evolving, more efficient mining hardware will appears, adding that not only Bitcoin has energy consumption problems, the rest of the world needs now alternative clean forms of energy that i believe are being researched so hard right now...

Besides, current prices are too low, some things would be different if Bitcoin goes to the thousand again...

The problem would be worse if the bitcoin price rises, as mega farms could afford more energy to waste.

Other payment methods use electricity as well. It is just that it is not as transparent as to how much electricity visa for example uses to process their payments. Visa must power their office buildings, computers for employees, computers that process transactions, banks that send money to/from visa (their employees, offices, and computers), printers that print customer statements, call centers to resolve disputes.

Don't confuse mining crypto with payment networks, the two are not the same. Fiat doesn't need mining energy.