“Is Bitcoin mining not efficient ?” – Andreas Antonopoulos

“Is Bitcoin mining not efficient ?” – Andreas Antonopoulos



Andreas Antonopoulos clarifies a general misconception that mining operations within Bitcoin network consume too much electricity and therefore make the entire process very inefficient.

THIS IS AN EXTRACT FROM ORIGINAL VIDEOCLIP THAT CAN BE FOUND HERE: https://www.youtube.com/watch?v=O1BMktaYQ2k

7 Comments

  1. It's so sad to see that (well meaning) greenies are a part of the problem. BTW Bitcoin is the best way to combat climate change. Green energy activists should stop shooting themselves in the foot and get on the right side of the fight.

  2. PoW and mining are THE significant innovations which make Bitcoin tick! There were attempts of creating digital currencies before Bitcoin and they failed. The newer, "sexier" coins will fail for the same reason. BTC is unique and the results speak for themselves– running flawlessly for 10 years, and Bitcoin has never been hacked despite well funded attempts by governments and banks.

  3. Crypto Conversations

    Outstanding

  4. What I got out of this is "the amount of mining doesn't have to increase with the amount of use of bitcoin." Note direct quote but that is what I heard.

  5. This is garbage, I'm sorry. I'm all for taking down the banks. But he needs to be realistic. He's just a cheerleader. He absolutely, totally, and utterly ignores the climate impact.

    The only point I'll give him is that he is right that there is some Innovation to be had which could lower the energy output of Bitcoin mining. But his comparison of the energy of the current banking sector compared a Bitcoin is totally off base, completely misleading and just absolutely kills his credibility.

    He's a cheerleader. I'd suggest he grab some pompoms for his next video.

  6. minning is a lost cause

Leave a Reply

Your email address will not be published. Required fields are marked *