31 Mar '16, 5pm

Projection: by 2020, Bitcoin transactions could consume as much power as Denmark

Projection: by 2020, Bitcoin transactions could consume as much power as Denmark

The results show that in an optimistic scenario, the increase in electricity consumption of the bitcoin network compared to now is not shocking, from around 350 MW to around 417 MW, but still on the order of one small power station. If things play out a little less favorably, however, the bitcoin network may draw over 14 Gigawatts of electricity by 2020, equivalent to the total power generation capacity of a small country, like Denmark for example. This is by no means a comprehensive analysis and these numbers should be taken with a pinch of salt, but the conclusion is an important one: If the network of bitcoin miners keeps expanding the way it has done, the increased efficiency of mining devices is most likely offset, leaving us anywhere between a slight growth or an explosion of the total energy consumption. Even in the optimistic scenario, just mining one bitcoin in 20...

Full article: http://boingboing.net/2016/03/31/projection-by-2020-bitco...

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Projection: by 2020, Bitcoin transactions could...

thebitcoinpro.com 31 Mar '16, 7pm

Projection: by 2020, Bitcoin transactions could consume as much power as Denmark Boing Boing The numbers are very back-of-...

Bitcoin transactions could consume as much ener...

thebitcoinpro.com 31 Mar '16, 9pm

Bitcoin transactions could consume as much energy as Denmark by the year 2020 Boing Boing The numbers in this study are ve...

Bitcoin Could Consume as Much Electricity as Denmark by 2020

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