Bitcoin, Crypto currency, Blockchain

Mining study: consumption exceeds the energy needs of the Switzerland – Coin Hero

65468afd2431423c7ea68b3c5e082183 - Mining study: consumption exceeds the energy needs of the Switzerland - Coin Hero

Mining study: consumption exceeds the energy needs of Switzerland

Home News Mining study: consumption exceeds the energy needs of Switzerland

Of
Matthias Nemack –
14.07.2019

The mining of crypto-currencies like Bitcoin, is a more expensive fun, is no secret. Current studies are adjusting the ratios.

Scientists determine the Bitcoin demand for electricity in 2019

To within the Blockchain currencies such as Bitcoin, Litecoin, or Bitcoin to Cash, new Coins emerge there needs to be a more or less large amount of electricity. The share of Mining in the global power consumption, there was in the past few years, a new impressive messages. Interesting about the message that Ethereum is supposed to consume less power until the end of the year 2019 was. This is not necessarily a question of whether the systems are really based on a Blockchain technology. Because other Coins are characterized by high energy consumption. For the current year, the determined values of the Analytical Center of the University of Cambridge are quite impressive. Here it is, all of the power needs for the Mining of Bitcoin units.

Crypto-currencies remain a kind of power hogs

By the way: Not only in a direct comparison to Israel and Switzerland “wins” of Bitcoin. Austria and the Czech Republic consume less power. Now countries like Switzerland or Israel are unquestionably absolutely large. However, behind the comparison in both cases leaves a lasting impression. Because The global Bitcoin Mining is characterized by a higher consumption of electricity than, than the population of the two States themselves. Also, the centre has announced Details related to the global consumption of electricity. Measured in terms of the global consumption of the Mining brings it within the Bitcoin Community to a value of around 0.26 percent. This, too, is a value that will be many critics to think.

Consumption could rise by gains dramatically

A while ago we reported that the electricity consumption for the Mining of new Bitcoins is higher than in almost 160 countries around the world. A side note is, in turn, in the analysis that the Bitcoin energy consumption for the person might be able to cover the electricity consumption within a period of 367 years. The comparison with the countries mentioned here deserves more attention. In the current Phase, with a Boom in the price of the Bitcoin, the consumption will continue to rise. Because for all the time the Mining was worth it in many cases hardly. Due to the price jumps of recent weeks have changed the opportunities for miners again dramatically.

Featured Image: From FabreGov | Shutterstock.com

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