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Bitcoin and the problem of energy consumption

There seems to be a new article every day amount Bitcoins energy consumption, like https://www.bbc.com/news/technology-56012952 for example.

Im sure this has been discussed many times here, but what are peoples thoughts about this?
Will this problem not become bigger and bigger as the network grows?
What are the possible solutions to decreasing the energy use?

For crypto as a whole its not a big threat, with PoS and other solutions that doesnt require insane amount of computing power. But is it a realistic long term threat to Bitcoin?

edit: this isnt to spread FUD, or to impose some morale about what we doing are destroying the planet. I just want a discussion, and get the perspective of other people on the matter.



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15 Comments

  1. Bitcoin doesn’t use energy. Bitcoin is just data. Computers use energy. And power plants produce it.

    This is a computer and a power plant problem. Not a Bitcoin problem.

    Watching videos online uses energy, too. If you want it to use less, you build a more efficient computer, not a better video.

  2. this thread honestly makes me sad. Just see these couple of news articles:

    Iran: https://www.japantimes.co.jp/opinion/2021/02/24/commentary/world-commentary/bitcoin-china-iran-covid-19-cryptocurrencies/

    I’m Iranian. We’ve had a lot of electricity issues since BTC going parabolic in late december. The price of BTC’s electricity consumption is not often paid by BTC consumers or node-runners, but people in the Third World. The same shit happens in Pakistan, and China. An alternative to BTC means some of these countries can actually let their people use the generated electricity instead of using it in a corrupted scheme for government to make money while people suffer.

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  4. Why not just look at other crypto currency that don’t need minners? Iota comes to mind. My guess is that when people realize Bitcoin is the king just because it was first and that there are far more useful and better projects happening the problem will sort itself out.

  5. The topic of sustainability is getting bigger each day. Because we have no other choice. I think this is a big threat for bitcoin in the long run. Therefore i am investing more in other crypto.

    Not only mining costs energy. Transactions cost energy too. Besides that the speed of transactions is not even close to fast enough. Imagine paying with bitcoin in a local ago and having to wait 20 minutes before transaction is complete. And having to pay a big fee. But that’s a bit offtopic. However i am afraid that the energy expediture of bitcoin is going to be a problem. Especially when the media tells more about this, the value will go down.

  6. I’ve wondered about this for a long time. It’s hard to believe how much energy BTC uses. I can’t see this being anything but a barrier for it being widely adopted. This might change in the future as BTC develops but I’d be interested to know what the plan to combat this is

  7. When I hear this story or anyone brings this up I give them the same response this is very positive news as it means bitcoin is incredibly secure. It would need the generation power of a an entire country for anyone to launch a 51% attack on bitcoin.

    The bigger it gets, the more secure it gets.

  8. I don’t give a shit at all. It doesn’t figure into my feelings about bitcoin even the tiniest bit. No doubt the people guilt tripping the world about this stuff are traveling around in private jets and living in enormous homes with huge “carbon footprints”.
    I’m just use their excuse and say I planted a tree every time I bought some bitcoin.

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