Quote from: yanxuanyunshan4 on March 09, 2018, 05:53:14 AM

Bitcoin mining is based on very high energy costs and environmental costs.

One bitcoin =20 barrels of oil.

How many barrels of oil do you think the industry consumes every year?

10 barrels? 50 barrel?

Each year, the mining industry consumes more than 24 terawatts of energy, the equivalent of 13,239,916 barrels of oil.

Every 10 minutes, 12.5 bitcoins are dug up, meaning 20 barrels of crude oil have been reached since each bitcoin was dug up (not yet traded).

In other words, the amount of energy consumed by the global bitcoin mining campaign is 40 times greater than the amount of energy needed to support the Visa card network.

One bitcoin transaction = one American family USES electricity a week.

According to encrypt the currency analyst Alex DE Vries estimate an index, the currency trading energy consumed each year more than 24 tw, this is equivalent to total energy consumed each year in Nigeria, which has a population of 186 million.

Currently, about 300,000 bitcoins are traded each day. Each bitcoin transaction costs 215 kilowatt-hours of energy.

The average American household USES about 901 kilowatt-hours of electricity a month, which means that each bitcoin exchange consumes enough energy to make an American family comfortable for a week.

What do you think about the energy consumption of bitcoin?

I don't know the accuracy of your figures. Bitcoin but I know that mining consumes a lot of energy, it is true that many people because of mining bitcoin will consume large amounts of energy to select a boycott of the bitcoin , so I hope in the future the bitcoin could invent new energy mining, this will help the bitcoin to get people's approval

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