Bitcoin mining and electricity

[Carbitcoin]

Bitcoin mining depends on electricity, fuel and power energies . But an economic development depends on power plan, energies and fuel . So I think Bitcoin mining is a expensive process and hence governments of all countries dislike cryptocurrencies for wasting power energies.

The fact is that governments are raising the issue of Environmental pollution, because a lot of electricity is spent on Bitcoin mining and, accordingly, emissions of harmful substances occur during the production of energy. But nevertheless, no one takes into account the fact that in any case, electricity is produced and sold as a commodity, and what difference does it make who consumes it.

[therozaq]

Bitcoin mining depends on electricity, fuel and power energies . But an economic development depends on power plan, energies and fuel . So I think Bitcoin mining is a expensive process and hence governments of all countries dislike cryptocurrencies for wasting power energies.

Yes, that's true, bitcoin mining is expensive..We have to buy equipment and pay the electricity cost. I have read many government dislike this. Because wasting power energies, As you said.

[Lukasz]

I would gladly see Bitcoin switching to another less power hungry way of securing the network unfortunately it is a huge business right now and many have big stakes on this field , on the other hand such huge electricity bill reinforces the sense of security

[Paha87]

Bitcoin mining depends on electricity, fuel and power energies . But an economic development depends on power plan, energies and fuel . So I think Bitcoin mining is a expensive process and hence governments of all countries dislike cryptocurrencies for wasting power energies.

The fact is that governments are raising the issue of Environmental pollution, because a lot of electricity is spent on Bitcoin mining and, accordingly, emissions of harmful substances occur during the production of energy. But nevertheless, no one takes into account the fact that in any case, electricity is produced and sold as a commodity, and what difference does it make who consumes it.

In principle, everything is correct to say, what difference does it make who consumes electricity if the government gets good money for it. It seems to me that the government, on the contrary, is beneficial for them to have such a client, here the harmfulness depends on the location of bitcoin mining mines. Now huge corporations with billions of dollars of capital are engaged in mining, this is all said and no defenders of nature and ecology, unfortunately, will not be able to influence their decision.

[eldial]

Bitcoin mining and electricity is so much hard to stabilized in the cryptocurrency  because bitcoin mining is very slow of getting a token with a cashless of electricity upon using this by  in my plan I dont like bitcoin mining perhaps it will be goes to a long time of mining and the days come is so easy.

[Papusha20]

Bitcoin is like electricity now because Bitcoin is now the best coin in cryptocurrency.  Bitcoin is the king of all coins. Many countries have moved towards further development using Bitcoin, so Bitcoin has been given the highest priority.

[I-Bit]

One of the biggest issues related to mining is always the high electricity. Many miners stope their mining because of the electricity. although the result is very legit. but sometimes, it becomes a big problem is we only have smaller amount to mine

[Sammy9ce]

Thanks for this information, I'd learn a few things about the bitcoin mining part, it's so nice seeing bitcoin take over the whole financial system, using or transferring money through banks are really hectic, you will to stand in a queue for over 30mins+ just to be able to meet the cashier, but with the creation of bitcoin all that are in the past, now we can do an easy and hassle free transaction to anywhere in the world.

[Sasa]

Many of us probably know that bitcoin mining requires a lot of electricity . Basically bitcoin mining requires a strong network and  Electric power. You made a very nice topic about mining. I think if anyone has any doubts about mining then you can clearly understand from your topic how bitcoin mining happens. I hope you will post more information later and we will benefit from it. Thank you.

[DAMKAR]

One of the biggest issues related to mining is always the high electricity. Many miners stope their mining because of the electricity. although the result is very legit. but sometimes, it becomes a big problem is we only have smaller amount to mine

Mining is high cost, I think If you want to invest , it is better than you do mining. I don't agree with mining, high electricity cost and not good for environment. It is really noisy. Many friends stoped their mining, and do daily trading.

[mlawson71]

Don't some jurisdictions have lower cost of electricity? Wouldn't mining be actually profitable in such jurisdictions?

[IyemRoker]

Now the price of Bitcoin has passed 50,000 USD and it is certain that Bitcoin has a very large value of funds, aka 1 Bitcoin by buying pretty good mining equipment.
So now Bitcoin mining and electricity can be enjoyed because it refers to the Bitcon price, this is inversely proportional to the price of Bitcoin in 2018 and 2019 which is very cheap from All Time High 2017.

[rizqillah]

Now the price of Bitcoin has passed 50,000 USD and it is certain that Bitcoin has a very large value of funds, aka 1 Bitcoin by buying pretty good mining equipment.
So now Bitcoin mining and electricity can be enjoyed because it refers to the Bitcon price, this is inversely proportional to the price of Bitcoin in 2018 and 2019 which is very cheap from All Time High 2017.

You re right mate,  when bitcoin price is so high, I think bitcoin mining and electricity can be enjoyed.  Because electricity cost is so high, equipments for mining  are expensive too.

[debra]

Bitcoin mining always has its won problem that is about the electricity. IN this case, we can see how mining needs high power of electricity so far. However, if the rate of Bitcoin is high enough, the miners can really enjoy the result from mining itself.

[kent47400]

Bitcoin mining now is very promising because Bitcoin is truly extraordinary to own.
Just look at the price of Bitcoin, it is really very expensive and very extraordinary if in a country for mining Bitcoin electricity is free.
I am sure there must be countries that make electricity free especially for Bitcoin mining because Bitcoin mining is very profitable.