Bitcoin consumed 134 TWh in total during 2021

#1

Post by doener » Sun, Jan 02, 2022, 4:09 PM UTC

Bitcoin consumed 134 TWh in total during 2021
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Re: Bitcoin consumed 134 TWh in total during 2021

#2

Post by Proven » Sun, Jan 02, 2022, 4:35 PM UTC

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Re: Bitcoin consumed 134 TWh in total during 2021

#3

Post by diego » Sun, Jan 02, 2022, 4:42 PM UTC

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Re: Bitcoin consumed 134 TWh in total during 2021

#4

Post by Havoc » Sun, Jan 02, 2022, 4:44 PM UTC

Using EV savings as benchmark strikes me as rather hilarious. Like what does the author think those run on?

Re: Bitcoin consumed 134 TWh in total during 2021

#5

Post by hddherman » Sun, Jan 02, 2022, 4:46 PM UTC

diego wrote: post #3

Quoted post unavailable.

Wouldn't it be better to instead store that surplus energy using methods like this one? https://en.wikipedia.org/wiki/Pumped-storage_hydroelectricit...

The value of Bitcoin is purely speculative and varies wildly, at least with stored energy you always have a market that's willing to buy it from you.

Re: Bitcoin consumed 134 TWh in total during 2021

#6

Post by theli0nheart » Sun, Jan 02, 2022, 4:47 PM UTC

hddherman wrote: post #5

diego wrote: post #3

Quoted post unavailable.

Wouldn't it be better to instead store that surplus energy using methods like this one? https://en.wikipedia.org/wiki/Pumped-storage_hydroelectricit... The value of Bitcoin is purely speculative and varies wildly, at least with stored energy you always have a market that's willing to buy it from you.

Not the OP, but my assumption is that most miners sell the Bitcoin they mine into fiat currency as quickly as they can.

Re: Bitcoin consumed 134 TWh in total during 2021

#7

Post by sktrdie » Sun, Jan 02, 2022, 4:48 PM UTC

With a climate crisis the last thing we needed was to make the most effective energy consumption system ever constructed. The whole thing literally works on competing on consuming more energy. No other system works so efficiently towards such goal.

What's scary is that the whole thing was designed to be unstoppable.

My utopian hope for the future is that we start sending rigs in orbit close to the sun. Since we only need to send a few bytes back to earth this becomes the only competitive way of doing mining. Space travel thus becomes dirt cheap. Humans are finally able to explore the solar system.

But that's just a dream. Realistically, we are screwed.