Energy Consumption In Crypto Mining
Exactly how sustainable is Bitcoin? What about the other proof of work cryptocurrencies? They have revolutionized the way we think about money and the financial institutions that control it: a truly trustless economy is possible, with no third party required for people to make monetary transactions. Recently Bitcoin’s 24-hour trading volume surpassed $20 billion, all without any bank or organization’s approval or oversight. With BTC on the rise again, it seems that the blockchain is here to stay.
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[https://blog.kucoin.com/energy-consumption-in-crypto-mining-kc-of](https://blog.kucoin.com/energy-consumption-in-crypto-mining-kc-of)
Considering that PoW protocol might not be that helpful based on its effect to the environment for its energy consumption, the users of this must do their part to set their own limitations and take proper actions for the utilization of PoW.
Do we really need to worry about these miners? I mean the reward is about to halven in a couple of months. Noone is gonna be mining when the rewards are less for sure.
Why does Bitcoin consume so much energy?
Crypto mining is almost available in every country. In Iran, it was just legalized actually. Theyd be getting into the crypto business now.
Energy consumption and the hardware resources are the reasons on why mining isnt really that good for the small miners specially those who are on the places that has high cost of electricity..
“Recently Bitcoin’s 24-hour trading volume surpassed $20 billion”
As an exchange that pays people to wash trade on their platform, you know very well this figure does not mean anything.