Q. What do you think about the energy consumption for cryptocurrency mining?

What do you think about the energy consumption for cryptocurrency mining?

They tracked the period from early January 2016 until the end of June 2018 and found that the mining of BTC, ETH, LTC and XMR, which generated one US dollar, consumed an average of 17, 7, 7 14 megajoules. For comparison: mining of one dollar of aluminum, copper, gold, platinum and rare earth oxides consumed an average of 122, 4, 5, 7 and 9 megajoules

Screenshot_1


1

Answer

4

Views

10

Nov, 2018

1 Answer
  • pak1997

    The word “bitcoin” is as likely to garner feverish excitement as it is glaring criticism. The financial community sees speculative promise in the form of trade that currently has little to no regulation. Meanwhile, others argue that it’s a distraction that detracts from the overall longevity of US financial institutions.

    Bitcoin’s energy consumption has become a recent talking point in the debate.


       

    answered by

      1.45 q (claimed)

Asked in Category

Cryptocurrency

Cryptocurrency is a secure, trustful and transparent digital currency which can neither be counterfeited nor be reversed arbitrarily by the sender. It eliminates the necessity of a third party involvement for the exchange, as it is encrypted and peer-to-peer virtual currency. For those who prefer non-disclosure and privacy, cryptocurrency is the solution. The use of this kind of virtual currency prevents any kind of identity theft. The concept of cryptocurrency has given birth to reliable e-cash.

  • 4 views overall.
  • Asked on