Is there a huge amount of electricity used for the creation of bitcoin?

The claim that electronic power consumption uses more power than bitcooy's recent countries has recently been widely spoken on the Internet. So, how does the BBC find the truth of the work and how is it true? Explored.

Although bitcoin is in 2009, electronic currency or cryptography has recently occupied the headlines worldwide due to its recent reputation.

Unlike the banknotes or coins in your pocket, Pitcai's governments or traditional banks are not printed and have a great deal of online presence.The 3,600 new bitcoins are created every day by a complex operation called "mining". Pitcair is made by implementing mathematical equations by special software and processed by computers.

In addition to a few computers that perform these equations, thousands of machines around the world operate for the function of bitcoins. Furthermore, it requires a lot of electricity.

Since the value of bitcoins continues to grow, the indigenous peoples and engineers use new computers and machines to get bitcoins through the mining process.

Many are eager to know how much electricity is spent to generate and administer the bitcoins based on electronic activity.

"Denmark is more than just use"

Unsurprisingly, social media such as Twitter began to come to terms with the use of energy consumption of bitcoins.

Is it possible to verify any other point of view than the value of the electronic currency? Because the source factor for the function of bitcoins, computers are interconnected and operated on the Internet.

Operational costs

But many tried to find out their loyalty. The energy use of bitcoins has been determined by data from the cryptogenic website Dizikonist, based on the performance indicators of common mining technology.

The amount of money spent on energy consumption and the amount of energy in the energy consumption is calculated as a starting point for mining, as it takes a starting point and divides it with the amount spent for its functional purposes.

According to this assessment system, the energy use of bitcoins is estimated at approximately 32.56 terawat hours (TWh).

This is how the comparison with other countries is made.

For example, according to data from Eurostat, Denmark uses 30.7 TWh energy and Irish 25.07 TWh energy in 2015.

So if you use this method, you can say that the comparison you have seen on Twitter is broadly correct.

However, it is not surprising that the critics have the things that Digichonist has to say, because the system uses the assumptions and assumptions.

Analyst Mark Bevant argues that this method is wrong. Because miners are using new and more powerful technologies that do not take into account such an assessment. Moreover, he said, "The speculation that 60% of the revenue generated by mining is spent on energy use is wrong."

In a report published by the US business magazine Forbes in late October, Bit Cairn's valuation market capital valued the overall values ​​of companies such as Goldman Sachs and Ebay. This situation is expected to soon be reached to compare the whole of the cryptocarcons with a whole country.

Whether it is an electronic or material product, the future of a product depends on how low it is produced.

The total number of people currently in the circulation is 16.7 million. Furthermore, it will continue until its maximum number of 21 million.

As the power is cheaper and reliable, technology is available for immediate use. Furthermore, the value of the electronic currency is enough to overcome production costs. Bitcoin continues to occupy the title message until it reaches its maximum number of 21 million.