Cost of mining 1 bitcoin is too high !

[altcoingamer]

Regular banking transactions also consume electricity, and they likely require way more than bitcoin does.  Banks have to have employees, servers, lots of things that require electricity.  Employees need to drive to work.  Employees and Servers need air conditioning.  There's tons of opportunity costs there as well.  If it takes electricity only to verify transactions through bitcoin, the entire process can be done with clean energy as well, you can't say the same with banking.  Banks require employees, and each human being has a carbon emission cost.  Bitcoin may use lots of energy, but so does regular banking transactions.  It's kind of backwards to bitch about bitcoin and how much energy it costs if you don't also compare it to how much power banking already costs.

Definitely true, there's really no process on earth that doesn't leave some sort of imprint.  I think the cost of mining atleast in Bitcoin's case is worth the extra levels of security and decentralization that it brings... and where that energy comes from is still possible with renewable resources.

[Sabarhati]

Did you see how many jobs created by the bank industry?  Can you imagine how many peoples affected if that industry collapse?

I can't imagine when it all happened.
there may be riots everywhere when the Bank collapses.

my hopes don't happen like that, let Bitcoin and Bank run side by side.

I also think if bitcoin and banks will go hand in hand, and not drop each other ...

[Doctor]

I heard john Mccafee saying that mining 1 bitcoin costs 1000 USD.  Isn't that a bit too high ?
I don't think consuming 1000 $ of electricity per bitcoin is very environmental friendly.

Yes I think It is very expensive, If you do mining. I personally prefer in bounty program, It is  more profitable.