Isn't Bitcoin mining a waste of energy?
Spending energy to secure and operate a payment system is hardly a waste. Like any other payment service, the use of Bitcoin entails processing costs. Services necessary for the operation of currently widespread monetary systems, such as banks, credit cards, and armored vehicles, also use a lot of energy. Although unlike Bitcoin, their total energy consumption is not transparent and cannot be as easily measured.
Bitcoin mining has been designed to become more optimized over time with specialized hardware consuming less energy, and the operating costs of mining should continue to be proportional to demand. When Bitcoin mining becomes too competitive and less profitable, some miners choose to stop their activities. Furthermore, all energy expended mining is eventually transformed into heat, and the most profitable miners will be those who have put this heat to good use. An optimally efficient mining network is one that isn't actually consuming any extra energy. While this is an ideal, the economics of mining are such that miners individually strive toward it.
Disclaimer: Includes third-party opinions. No financial advice. See Risk Warning.Address：https://www.btcya.com/news/bitcoin/241.html
Latest Crypto News
-
Taking Zetachain as an example, how Ominchain implements chain abstraction
As the number of public chains and L2s increases, the demand for cross-chain assets and Dapps has also begun to increase. Cross-chain bridges are a common solution, but Omnichain has taken a completely different path....
2024-04-17 Trending -
Long or short? See what the experts say
There are only a few days left before the fourth halving of Bitcoin, but the top "masters" have completely different predictions for the future market....
2024-04-17 Trending -
Rune market starts, a must-read guide for beginners
Original text: "Navigating Runes Protocol Launch: Beyond the Initial Hype" Original author: Ignas, DeFi Research Compiled by: Ladyfinger, Blockbeats Editor&...
2024-04-17 Markets -
Polyhedra Network Partners with Google Cloud to Open ZK Proofs to Developers
Polyhedra Network said on social media that it has partnered with Google Cloud to bring ZK proofs to developers....
2024-04-17 Flash -
OKX will list Merlin Chain (MERL)
according to official news, OKX will launch Merlin Chain (MERL),...
2024-04-17 Flash