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It seems bitcoin won't bankrupt the world's energy after all



Generating or "mining" bitcoin takes a heck of a lot of processing power, so when Digiconomist released a report showing that mining bitcoin costs so much electricity that it would bankrupt the world's power supply... well... that caused some concern.  Fortunately, calmer minds pointed out about a year ago that the same used to be said of the internet.  And we still are not feeling any bite from bitcoin's energy appetite.  On the other hand, it *would* be more credulous to think about how bitcoin's profitability will eventually decline...

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Taryn Boyle

Actually, Bitcoin requires 64 times more energy than the entire Visa credit card network.  All are saying renewable energy is the alternative, but we can use those energy in other fields as our world still suffers lack of electricity. I heard about 'ASIC'- Application Specific Integrated Circuit chips that is designed specifically which comparatively consumes less electricity.

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