Bitcoin and other crypto currencies have rightly gained a reputation of using insane amounts of power to run. Even by using the excess heat to heat other buildings, it is still a problem.
Bitcoin mining already uses as much power as Sweden. However this could all change. Currently, the software uses, “proof of work” which requires massive computer arrays to validate purchases.
Rival system such as Ethereum uses “Proof of Stake” where miners have to pledge their coins to verify transactions. Any inaccurate information leads to penalties.
With how much energy bitcoin is using, they must follow suit or find another way to cut their energy demands dramatically.
Bitcoin mining is requiring so much power, that coal powerplant stations that are due for dismantling are being given a reprieve. This is concerning, particularly in America where their power grid had made much progress, but could see all this reverserd.
We do not want to be in a world, where countries that do not clean up how they power the grid, can make huge piles more money, simply by continuing to pollute.
