Why does Bitcoin require so much electrical energy?

[Neodymium60]

One Bitcoin transaction requires the same electrical energy as 430,000 Visa transactions.  As the price rises the miners add more and more sophisticated computers to the network. Which need to be cooled among other things.

https://www.dw.com/en/why-does-bitcoin-need-more-energy-than-whole-countries/a56573390#:~:text=%22The%20higher%20the%20price%2C%20the,people%20try%20to%20do%20so.

 

• This topic was modified 5 years, 5 months ago by Neodymium60.

[rjnwmill]

I was unable to link through to the story.

Does it mention the relative frequency of fraudulent transactions on the two platforms; Visa v Bitcoin?  I should think Bitcoin as a store of value would be more significantly impacted by fraudulent transactions.

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Neodymium60]

Try this link.  It’s a massive electricity consumption problem.

As to your question, they are not speaking to fraud.  The crypto crowd has a major problem they have not addressed which is the fact that their money has no value.  But the lunatics are in charge now.  I’m sure an oval office meeting is scheduled to discuss it with Yosemite Sam, The Duck, Tweetie Bird and Biden.

https://www.dw.com/en/why-does-bitcoin-need-more-energy-than-whole-countries/a-56573390#:~:text=%22The%20higher%20the%20price%2C%20the,people%20try%20to%20do%20so.

 

They are not speaking to fraud.

[rjnwmill]

Thanks for the updated link. I don’t know why I had an issue the first time around.

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[ichiban]

Think of how far you could drive your Tesla!

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