Bitcoin falling from the altar: “a ground chicken” behind the Carnival

It was described: if bitcoin also understand the world changes, it should be thoroughly aware of what is now a flourishing decline.

In November 14th of this year, bitcoin prices hovering around $6400; but then it continued to fall, until December 8th, bitcoin fell out of the $3201 year new low price.

From 2017 the highest decline of $twenty thousand a, bitcoin “flash crash” effect, is a bitcoin mining machine by catty sale. In micro-blog, “bitcoin crash” and “bitcoin mining machine breakdown cost” two topic turns on micro-blog hot search list, read a total of more than 100 million.

So the Internet began to spread from all kinds of synchronized scripts. “I have a coin of friends last year and I talk to buy Beijing real estate ring. Today when we met for dinner, he said to me: Hello, this is your takeaway.”

Change radically behind bitcoin, has not stopped the dispute against bitcoin mining is based on the high energy cost and environmental consumption.

Find the invisible “it” how much electricity?

If you don’t know bitcoin, then you are a little far away from modern life.

Easy to understand, bitcoin as a digital currency, it is through the computer network to do a lot of operation “Exploitation” that this process is usually called “”. The first personal computer can also “dig”, but the efficiency is very low, and later appeared bitcoin mining machine specially, the price to several million yuan in hundreds of dollars. For bitcoin mining industry, including the cost of the machine, electricity and labor, and in the three, the largest proportion of electricity.

So, looking for bitcoin Mami how electricity?

With bitcoin prices surged in 2017, electricity demand related to rise each year about 20.5 terawatt hours.

According to the data of consultant and expert Alex Vries (Alex De Vries) calculation, assuming that every day about 300 thousand bitcoins trading in, every bitcoin transaction will consume 215 kwh of energy. The average American family monthly consumption is about 901 kwh, that is to say, each bitcoin exchange energy enough to get an American family for a week.

In other words, the daily electricity consumption within the scope of global bitcoin transactions can support 2 million 260 thousand households in the United States, this is only the data of 2017.

One of the main problems caused by energy consumption of a large number of carbon emissions is.

In a “pool” in Inner Mongolia as an example, the use of its electric energy is the main source of coal power generation. The coal carbon dioxide emissions per kWh of electricity for 0.6kg-1kg. To meet the needs of the bitcoin mining machine, the power consumption per hour can reach 40 megawatts. But the result is that the carbon dioxide emissions per hour to 24 tons ~40 tons.

This conversion, each dug a bitcoin, its emissions of carbon dioxide will reach 0.8 million tons of ~1.3 million tons.

A typical European car traveling 1 kilometers per carbon dioxide production is about 0.11kg. Then, when the mine mining is equivalent to at least 1 hours, produced a European production car traveling 200 thousand kilometers from carbon dioxide.

Mining consumes a lot of electric energy, the electric energy will eventually be converted into heat. This means that each machine per hour from a large amount of waste heat. This allows each machine like a portable electric heaters, and as many as thousands of such minerals in many plant.

As a result, Iceland has become one of the most promising bitcoin mining areas. Due to the climate of Iceland province can cost some cooling machine. This year is expected to Iceland bitcoin mining and energy consumption will double to reach 100 MW or so.

It is a marvel, according to the Iceland Bureau of national energy data, this figure has exceeded the total household electricity of the country of 340 thousand people.

From $20000 a mill to become scrap metal

The data pointed out that the world’s 70% bitcoin produced Chinese. In 2014, every 50 million electricity output 100 coins, each coin will only electricity costs 5000 yuan, to 2017 years 5 months, every bitcoin electricity costs as high as 10000 yuan.

Bitcoin mining energy “real shocking”. Building wire clouds, huge machines roar, thousands of machines running day and night; and the media reported that Sichuan is located in a mine, because there is a big difference between the wet period and dry period price, to the workshop moved from Inner Mongolia to Sichuan, and in the dry season to the mill moved to Inner Mongolia and Xinjiang, “this is somewhat similar to bees and grazing”.

At the highest point, a bitcoin close to $twenty thousand, compared to the cost, bitcoin mining business is obviously profitable. With the increasingly high cost of mining, the return is also more and more low.

Bitcoin barbaric growth brings high cost low efficiency, power consumption, such as the huge trading volume low. This appeared in the beginning of the scene, when bitcoin mining began to fall, but arrived in electricity distribution in the domestic Xinjiang, Inner Mongolia and other parts of small and medium-sized mines, the price continued to decline in money, had to be sold into liquidation.

Such as general hill mill waste heap in the yard, even by the catty to sell. A year ago the price up to twenty thousand Taiwan mill, now a scrap, second-hand sale price of only 1000 yuan.

With the passage of time, bitcoin number will be less. The future of “mining” new bitcoin, the machine is increasingly high demand, analysts have pointed out that it is difficult to predict the future of bitcoin mining will consume much power, because it depends on the efficiency of computer to solve mathematical problems, and will increase the number of computers in the process.

What a waste of resources?

Never stop questioning.

Opponents point out that people spend tens or hundreds of megawatts of electricity to produce no entity, and no real use in the field of financial speculation things, not only does not create any value, and waste of social resources; there are man-made rehabilitated bitcoin mining, called power consumption and not so much, and use the “waste” this is electricity, people are worried about the power and the end is still far away.”

The reality is that bitcoin is still so hung up. Enhance the cost and price with the ups and downs of mining production, bitcoin is no longer a “money” business. Mining more power consumption, and no signs of slowing down. In the thermal power generation is the mainstream model of the environment, consume more energy will undoubtedly cause greater pressure on the earth’s environment.

Some experts pointed out that more energy use bitcoin, the greater the impact on the environment, which in turn will affect everyone. At least in the short term, it can help us achieve climate goals.

Considering every save electricity, can save 0.4 kilograms of standard coal, saving 4 liters of clean water, reduce 0.272 kg, 0.03 kg of dust to reduce sulfur dioxide emissions, apparently making bitcoin really is not environmentally friendly”. No wonder some environmentalists insist bitcoin mining pollution in indirectly.

To figure out the impact of bitcoin mining on the environment, there is a gray area. We also see that some countries have begun to restrict or prohibit bitcoin mining, violators will even be fined, the development of the block chain and encryption currency are restricted.

According to the relevant provisions of the people’s Bank of China, bitcoin has no law, such as monetary compensation of the mandatory property, not the true meaning of money. Regulators continue to attempt to rectify, the central bank and other 7 ministries have issued a notice to halt activities including ICO, financing and distribution of various types of tokens. Mutual gold remediation office has issued a document, requires all office renovation and actively guide the orderly exit of enterprises within the mining business.

Nevertheless, Morgan Stanley analysts said in a report, virtual currency mining may consume 140 terawatt hours of electricity in 2018, accounting for about 0.6% of global electricity demand. The electric car in 2025 is expected to have high power consumption.

Now, bitcoin is still down, rolling the temptation of money in the tide. Whether it is a waste of energy bubble, perhaps time will give us the answer. (Chinese environmental report)

Leave a Reply

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