April 6, 2020, 21:15


‘Bitcoin Could Someday Consume 5% of Global Electricity’ – Economist

‘Bitcoin Could Someday Consume 5% of Global Electricity’ – Economist

‘Bitcoin Could Someday Consume 5% of Global Electricity’ – Economist
©
Sputnik / Evgeny BiyatovTech22:01 19.05.2018(updated 22:07 19.05.2018) Get short URL205

A study has revealed that Bitcoin will be consuming about 0.5% of the world’s total electricity by the end of 2018.

The estimates, based on economics, estimate the minimum current usage of the Bitcoin network at 2.55 gigawatts, meaning that it uses almost as much electricity as Ireland.

By the end of this year, the network could be using as much as 7.7 gigawatts, as much as Austria and 0.5% of the world’s total consumption, according to economist and blockchain specialist Alex de Vries, reported by publication Live Mint.

“To me, half a per cent is already quite shocking. It’s an extreme difference compared to the regular financial system, and this increasing electricity demand is definitely not going to help us reach our climate goals,” the economist said. 

If the price of Bitcoin continues to increase the way some experts have predicted, De Vries believes the network could someday consume 5% of the world’s electricity, according to the publication.

 

Sourse: sputniknews.com

Related posts

Leave a Reply

Your email address will not be published.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

Weather

Moscow

Today04/06/2020
3℃

Tue
04/07/2020
few clouds

  • few clouds
  • HI/LO: 8/-1
  • Clouds: 24%
  • Wind: 3.76 m/s
  • Wind Direction: WSW
  • Pressure: 1035hPa
  • Humidity: 58%

Wed
04/08/2020
light rain

  • light rain
  • HI/LO: 9/3
  • Clouds: 80%
  • Wind: 6.87 m/s
  • Wind Direction: NW
  • Pressure: 1017hPa
  • Humidity: 69%

Thu
04/09/2020
light rain

  • light rain
  • HI/LO: 12/1
  • Clouds: 85%
  • Wind: 5.57 m/s
  • Wind Direction: SW
  • Pressure: 1015hPa
  • Humidity: 50%

Fri
04/10/2020
light rain

  • light rain
  • HI/LO: 7/2
  • Clouds: 95%
  • Wind: 6.42 m/s
  • Wind Direction: NNW
  • Pressure: 1008hPa
  • Humidity: 72%

Sat
04/11/2020
overcast clouds

  • overcast clouds
  • HI/LO: 5/1
  • Clouds: 86%
  • Wind: 6.16 m/s
  • Wind Direction: WNW
  • Pressure: 1011hPa
  • Humidity: 62%

Sun
04/12/2020
sky is clear

  • sky is clear
  • HI/LO: 6/0
  • Clouds: 2%
  • Wind: 4.98 m/s
  • Wind Direction: NNW
  • Pressure: 1022hPa
  • Humidity: 58%

NEWS

    Сторонняя реклама



    Статьи
    Статьи В
    Создание Сайта Кемерово, Создание Дизайна, продвижение Кемерово, Умный дом Кемерово, Спутниковые телефоны Кемерово - Партнёры
    Яндекс.Метрика