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Worried About Bitcoin's Energy Consumption?
Tommie R
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Apr 20, 2021 08:00 AM
Something interesting to note is the Energy Expenditure you get out of the $ spent with Bitcoin vs. the Banking Systems. If Bitcoin's energy consumption is keeping you away from Bitcoin, re-evaluate.

"Seems like a lot of energy usage for something that's closed after 5 pm and weekends."

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Apr 20, 2021 08:52 AM
Source on this? Anyone could have made this in MS paint and posted it on reddit.
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Apr 20, 2021 09:21 AM
(Apr 20, 2021 08:52 AM).Infinity. Wrote:  Source on this? Anyone could have made this in MS paint and posted it on reddit.

Yeah, I'd love to read an actual study done on this. If it's true that seems crazy that all those massive farms in China and other places are consuming so little energy.
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Apr 20, 2021 09:36 AM
Same. Need sources. If true though...
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Apr 20, 2021 09:56 AM
Just a quick Google search will give you relevant sources.

https://www.nytimes.com/2021/03/09/busin...hange.html

TLDR: Energy cost of Bitcoin is definitely substantial.
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Apr 20, 2021 09:56 AM
(Apr 20, 2021 08:52 AM).Infinity. Wrote:  Source on this? Anyone could have made this in MS paint and posted it on reddit.

(Apr 20, 2021 09:21 AM)Zovers Wrote:  Yeah, I'd love to read an actual study done on this. If it's true that seems crazy that all those massive farms in China and other places are consuming so little energy.

(Apr 20, 2021 09:36 AM)Aeowulf Wrote:  Same. Need sources. If true though...

Chart is from
@ARKInvest
's 2020 research report:
https://ark-invest.com/articles/analyst-...oin-myths/
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Apr 20, 2021 10:02 AM
(Apr 20, 2021 09:56 AM)Tommie R Wrote:  Chart is from
@ARKInvest
's 2020 research report:
https://ark-invest.com/articles/analyst-...oin-myths/

That was an interesting read, thanks for the link! I guess I never really considered how much Bitcoin is mined using renewable resources either. I found that to be a very thought provoking comment.
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