Never could've forseen this
I knew that computer power requirements for mining bitcoin were on the rise , but could not have imagined it getting to this point.
Source TruthNeverTold
I knew that computer power requirements for mining bitcoin were on the rise , but could not have imagined it getting to this point.
Source TruthNeverTold
This guy does not know what he is talking about, his knowledge is very limited. Just the fact that he said government will topple this. @dmud
Seems insane to me, but the couple of sources shown in the video seemed legit.
I'm looking deeper
Somebody tell this guy that bitcoin is also mined with renewable energy and that is increasing everyday. What a retard lol
I didn't see a distinction between renewable and generated electricity, just overall consumption to produce the coins.
I do remember when bitcoin was being mined by people with out of the box home computers, some formulas that calculated the energy consumption and compared it to the benefit of mining a coin. I don't remember the bitcoin cost at the time but unless your computer was being utilized for other work and mining in the background you were losing money.
Anyway still seems crazy, appreciate your thoughts
I feel like this is a google placed advert; I was just on Youtube because i was watching silver related videos like a minute before I saw this. Either way electricity production will go up at the same trajectory as consumption if not higher. Supply and demand. There are lots of ways to make electricity.
I agree about owning silver but this was obviously an advert for once specific over spot value coin.
No doubt there's some silver peddling associated with the video, but I'm still stunned at the amount of electricity projected to produce a coins. Does anyone know the current amount of electricity in kwh to produce a coin at this time?
Update, here's a link to one of the stories referenced in the video.
https://powercompare.co.uk/bitcoin/
it's no lie that given enough time and inevitable increase in mining power, that eventually bitcoin network and other cc's could use up to 50-60% of all eletricity production.
But not to worry. Lots of innovation in reknewable mining. there is no other option