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11
votes
4answers
586 views

What can be done to slow/prevent mining centralization?

Assuming all buyers have access to the same ASICs (ignoring that ASICs developers and manufacturers will always have the latest first, even if only used for "testing" prior to sale) energy costs would ...
5
votes
1answer
298 views

What can be done with old (unprofitable) ASICs? [duplicate]

GPUs used for bitcoin mining have many other purposes and can generally be sold after they are no longer mining enough Bitcoin to meet variable (electricity, etc) costs. What uses do old ASICs have ...
4
votes
1answer
59 views

All else being equal which is better for the environment, Litecoin or Bitcoin?

Does scrypt mining inherently confer any environmental benefit or energy efficiency for the same level of service provided?
8
votes
1answer
713 views

Can it really be true that the Bitcoin system consumes almost $1.000.000 in electricity per day?

So I've been trying to figure out how much running the Bitcoin system really costs using the following numbers: Total Bitcoin Hash Rate: 300.000.000 GH/s Hashrate of an ANTMINER S4 (currently one ...
4
votes
2answers
211 views

What are the limits of ASIC Mining?

My assumption is that ASIC miners optimize for the "hashes per joule" metric, as did GPU miners over CPU miners. It would seem that after some time, the decision to mine Bitcoins would be based on if ...
3
votes
3answers
181 views

Mining costs, impact on long term viability of BTC

Given the rapidly rising difficulty level and electricity consumption/$30 cost per transaction, is the protocol sustainable as-is, and if not what is most likely to happen in the evolution of BTC.
1
vote
3answers
8k views

Bitcoin mining by using solar energy. Is it possible? [closed]

I have a peculiar question concerning about bitcoin mining, for example, in Brazil it is unfeasible due to the high cost of electric power. Is it possible to do mining by using solar energy? Does ...
1
vote
1answer
601 views

A Butterflylabs 5 GH/s Bitcoin Miner running at 270 Watts?

A 5 GH/s Bitcoin Miner is running at around 270 Watt. I tested it with an Wattmeter. Is that a reasonable amount of Watt? In the comparison list on Bitcoin.it it says that those devices are running at ...
1
vote
0answers
35 views

Which percentage of miners are using ASICs vs GPUs or FPGA? Is it possible to know?

One of the common arguments against Bitcoin is the energy consumed by the network. The total hash-power of the network can be obtained fairly easily, but I'd like to estimate how much of that is due ...
2
votes
1answer
643 views

Electricity cost of mining

I've checked with my electricity provider, and I have been told the following: Unit Rate (per kWh) = 0.1399USD Standard Charge (per day) = 0.1645USD While mining, if my computer is using 100w (...
0
votes
1answer
777 views

Uses of computing power by bitcoin miners

How much of what this article says is true? I thought I had read that bitcoin miners are the ones who maintain the blockchain. Do they also do something other than maintaining the blockchain? In ...
0
votes
1answer
361 views

disregard power costs for mining in the winter? [duplicate]

My theory is that if you are mining in the winter you should discount power costs completely, since the heat generated by your miner will contribute to the heating of your home and thus cause your ...
7
votes
7answers
553 views

Will the energy cost and deflationary nature of Bitcoins doom the currency to obscurity?

I couldn't find enough questions that ask this head-on1, so consider that if: Bitcoins are designed to reflect the deflationary characteristics of a specie currency; and The distributed nature of ...
0
votes
1answer
63 views

Are there any example of Bitcoin being used for IOT application?

I am looking for examples of Bitcoin mining being integrated into embedded systems so that a by product of the services being provided is more Bitcoins. For example if I have a control system for a ...
4
votes
6answers
5k views

How much energy will the Bitcoin network eventually consume? [duplicate]

A recent Bloomberg article stated that the Bitcoin network currently consumes about half as much energy as the Large Hadron Collider or enough to power 31,000 US homes. Even if the article is way off ...
1
vote
5answers
2k views

If Bitcoin mining is becoming more and more impractical, what then?

If Bitcoin mining is becoming more and more impractical, where you'll need to buy like a ButterflyLabs unit, and where even eventually a room full of these units might not be enough some day, what ...
4
votes
2answers
1k views

What has a lower long term cost per hash: LTC, BTC or other alt coin?

I'm trying to understand the cost per hash operation with Litecoin vs Bitcoin over time. The theory is that the network that has the best prospects for long-term security (via hashing) will set a ...
2
votes
1answer
191 views

How can one estimate the amount of Watts that is consumed by the mining network as a whole?

I'm trying to estimate the Wattage used in mining operations over time and compare that YoY cost with mining physical materials (gold, silver, etc). I hope that the electrical impact is less than ...
6
votes
3answers
379 views

Is the current network difficulty algorithm appropriate for “Peak transaction-only mining”?

At some point in the future miners will depend more on the Tx fee than per-block payout. Right now people turn on and off their equipment based on local trends such as price of electricity, etc. On ...
-2
votes
1answer
312 views

Bitcoin - Green mining [closed]

I would like to know whether any work known to bitcoin community, related to 'green mining'. As power consumption is main cost factor in mining, alternate energy sources like, solar / wind powered ...
2
votes
1answer
358 views

How do I protect my mining rig from brownouts and electrical surges?

My mining rig consumes 1,250w. What additional information do I need, or how do I shop for a product that will protect me from Brownouts and Electrical surges. I'm not interested in UPS ...
8
votes
4answers
428 views

What is the ecological effect of increased work for the Bitcoin chain?

As more users use Bitcoin and "forced work" difficulty increases what effect does this have ecologically? It is a silly question I know. I'm just comparing let's say value or effect of using ...
7
votes
4answers
743 views

World-wide price for generating 1BTC

Can we find an algorithm to compute the average price (as energy consumption) of 1 BTC being generated if we know: hash rate, difficulty, energy price?
8
votes
2answers
844 views

Where in the world is bitcoin mining the most profitiable? [closed]

This is a question for Bitcoin miners. High cost of electricity can really cut down on the profitability of Bitcoin mining. I want to know what geographic location has the cheapest electricity and ...
17
votes
4answers
5k views

Will mining significantly increase the power consumption of my PC?

I have a PC that is always on 24/7. I use it as an SSH and backup server, and it has a modest, not-too-great GPU that sits idle most of the time. I hear a lot of talk about mining not being cost-...
13
votes
2answers
1k views

Will the amount of electricity used for mining be huge if Bitcoin is widely adopted?

A quick and very rough estimation: If the USD/BTC exchange rate grows to $1000/BTC (not that far-fetched if Bitcoin is actually widely adopted) bitcoins for a value of $300000 would be produced every ...