Will to live: miners consume three times less electricity than the banking sector
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In the July edition of the Economist with reference to the expert Alex de Vries that the device is for mining of Bitcoin consumes about 22 terawatt-hours of electricity — the same as the whole of Ireland. However, it later emerged that this is not true, and for the production of the first cryptocurrencies need much less energy.
Now a Professor at the University of Pittsburgh Katrina Kelly-Pete stated that the energy consumption of the devices for cryptocurrency mining is not excessive and does not lead to the global ecological crisis. Her words quoted .
thewhat is the power used by miners
According to the Professor, the harm to the global environment from mining cryptocurrency is "a gross simplification", which encourages the spread of rumors about the negative effects of mining on the world supplies of electricity.
I study technology of clean energy, in particular the transition to decarbonizing energy systems. New technologies, such as data centers, computers and trains, planes and cars are often energy-intensive. Over time they have become more efficient, which is a natural development of any technology. The energy savings equates to reducing costs.
Kelly Pete added that the use of renewable energy will provide enough electricity for all branches of industry, including mining. According to her, critics of the production of digital money should care what kind of electricity — renewable or not — used by miners.
The Professor also said that in the year the banking sector consumes about 100 terawatts, while mining — about 30 terawatts. In addition, mining of crypto-currencies is rapidly growing in areas with cheap and renewable energy. They are Iceland, Norway and the mountainous Chinese province of Sichuan.
Bitcoin is not a bad guy in terms of electricity consumption. It's just a new and little-understood sector of the economy. Discussion about the excessive use of resources by miners are unfair given the fact that data centers use far more electricity.
It Seems that now the opposers of cryptocurrencies was one reason for their humiliation less. However, as practice shows, soon this version will replace the new.
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