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Study reveals Cryptocurrency mining energy consumption in China alone will be higher than Italy in three years
80% of the world's crypto mining happens in China. Electricity consumption from China's Bitcoin mining operations will pass Italy's electricity consumption by 2024. That's what scientists say in Nature. "Without timely intervention, the climate efforts that the country did will be nullified," they say.
According to the researchers, this is due to the cheap electricity in the country and the relatively easy access to mining parts from manufacturers reports tweakers.net Bitcoin is using the most energy per transaction and coin mined, other cryptos are to follow suit. Four out of ten Chinese miners would use electricity produced from coal, the remaining 60 percent run on renewable energy. Due to the large share of coal-based energy consumption, the researchers argue that China's Bitcoin mining activities could nullify the climate efforts the country has already made. The researchers also expect that Chinese mining activities will only increase.
“Without political intervention, the annual energy consumption of China's Bitcoin mining activities will reach 297 terawatt-hours by 2024
As a comparison, we are based in the Netherlands, we as a country currently use 107 THh per year.
Kaarme
Senior Member
Posts: 3374
Joined: 2013-03-10
Senior Member
Posts: 3374
Joined: 2013-03-10
#5903481 Posted on: 04/09/2021 02:43 PM
It's weird that in the same sentence you ridicule Chinese state for overreaching, while complaining that it wont use its all-powerful abilities.
When it comes to international emission responsibilities, it is
Your country Finland, is still spewing
What is weird? I have consistently complained about countries doing nothing about the crypto currency for a long time. China is in a unique position of being a totalitarian country and thus if the CCP made crypto illegal, absolutely zero people in China could challenge the decision. They could do it in a day. The people and business could only obey or risk facing the law enforcement. Or move abroad. In the West, I imagine, there would be a lot of slow debate, political battles, legal expert consultation, constitution evaluation, you name it, before the laws could be passed, many months if not a year later. And even then people would be busy finding loopholes allowing them to continue. The officials could do absolutely nothing if the loophole was real.
The whole emission thing is so messy that I could spend a week trying to understand it and still wouldn't, but it's easy enough to notice the treaty has various categories for countries, one being developed/industrial ones, and the other being developing ones. The developed countries are supposed to aid the developing ones financially to cut emissions. I'll give you a single chance to guess where China belongs. It's not like there's any industry in China, right? All of our houses are full of made in China products, yet China isn't industrialised. It's the second largest economy in the world, although one day soonish it could be the largest, but it's still a developing country. Lol. Back in the day the news were writing about obsolete/fake coal plants in China with massive emissions. China shut them down and was able to use the freed emission credits for real things or sell them. I admit I have no idea if that was real or fake news.
A third of Finland is above the arctic circle. The rest obviously just below. The winter if long and cold, and will kill you without a solid, heated house. If you removed that factor, Finland's graph would be below China's. I've seen it estimated 30% of Finland's emissions are due to warming up the houses. I guess all Finns could move south to an environment more suitable for human life. Would your country be welcoming?
It's weird that in the same sentence you ridicule Chinese state for overreaching, while complaining that it wont use its all-powerful abilities.
When it comes to international emission responsibilities, it is
completely irrelevant
whether China is a developed or developing country. Paris Agreement makes no distinction between two categories.Your country Finland, is still spewing
more CO2
per capita than ChinaWhat is weird? I have consistently complained about countries doing nothing about the crypto currency for a long time. China is in a unique position of being a totalitarian country and thus if the CCP made crypto illegal, absolutely zero people in China could challenge the decision. They could do it in a day. The people and business could only obey or risk facing the law enforcement. Or move abroad. In the West, I imagine, there would be a lot of slow debate, political battles, legal expert consultation, constitution evaluation, you name it, before the laws could be passed, many months if not a year later. And even then people would be busy finding loopholes allowing them to continue. The officials could do absolutely nothing if the loophole was real.
The whole emission thing is so messy that I could spend a week trying to understand it and still wouldn't, but it's easy enough to notice the treaty has various categories for countries, one being developed/industrial ones, and the other being developing ones. The developed countries are supposed to aid the developing ones financially to cut emissions. I'll give you a single chance to guess where China belongs. It's not like there's any industry in China, right? All of our houses are full of made in China products, yet China isn't industrialised. It's the second largest economy in the world, although one day soonish it could be the largest, but it's still a developing country. Lol. Back in the day the news were writing about obsolete/fake coal plants in China with massive emissions. China shut them down and was able to use the freed emission credits for real things or sell them. I admit I have no idea if that was real or fake news.
A third of Finland is above the arctic circle. The rest obviously just below. The winter if long and cold, and will kill you without a solid, heated house. If you removed that factor, Finland's graph would be below China's. I've seen it estimated 30% of Finland's emissions are due to warming up the houses. I guess all Finns could move south to an environment more suitable for human life. Would your country be welcoming?
gx-x
Senior Member
Posts: 1521
Joined: 2007-03-18
Senior Member
Posts: 1521
Joined: 2007-03-18
#5903482 Posted on: 04/09/2021 02:50 PM
Depend if nuked or power plan (or nuked by powerplan due to lack of semi conductor to repair control tool)...
More seriously, you are very optimistic about power delivered by nuclear power plan... At this level of consomation of energy they will need an army of powerplan.
Maybe reducing the way to consume so much would be a better solution.
well, this might be of interest:
https://futurism.com/china-floating-nuclear-power-plant
sooo...yea.
Depend if nuked or power plan (or nuked by powerplan due to lack of semi conductor to repair control tool)...
More seriously, you are very optimistic about power delivered by nuclear power plan... At this level of consomation of energy they will need an army of powerplan.
Maybe reducing the way to consume so much would be a better solution.
well, this might be of interest:
https://futurism.com/china-floating-nuclear-power-plant
sooo...yea.
schmidtbag
Senior Member
Posts: 7249
Joined: 2012-11-10
Senior Member
Posts: 7249
Joined: 2012-11-10
#5903485 Posted on: 04/09/2021 03:06 PM
The only solar fields I'm aware of that kill anything are these:
Which are not that common. Photovoltaic plants kill birds too but to a much lesser degree. Besides, I would rather a few dead birds than actively contribute toward climate change.
I do not like those solar fields of death. In hot days they kill anything flying above it.
The only solar fields I'm aware of that kill anything are these:
Which are not that common. Photovoltaic plants kill birds too but to a much lesser degree. Besides, I would rather a few dead birds than actively contribute toward climate change.
Ryu5uzaku
Senior Member
Posts: 7416
Joined: 2006-09-24
Senior Member
Posts: 7416
Joined: 2006-09-24
#5903489 Posted on: 04/09/2021 03:13 PM
but... the very study say that by 2029
It's weird that in the same sentence you ridicule Chinese state for overreaching, while complaining that it wont use its all-powerful abilities.
When it comes to international emission responsibilities, it is
Your country Finland, is still spewing
Most likely we will drop under China anyway with the introduction of newest nuclear power plant. We will produce 90% of the electricity without co2 starting 2022. And next nuclear power plant coming up in 2028 so after that it's 0% in terms of power. Then it is only cars and stuff like that. Ofc China is behind also simply because they are not that rich per capita either so not buying useless things and everyone having a car and all the appliances known to man.
but... the very study say that by 2029
even in the worst case
(market access scenario), BTC emissions will be negligible. RTFMIt's weird that in the same sentence you ridicule Chinese state for overreaching, while complaining that it wont use its all-powerful abilities.
When it comes to international emission responsibilities, it is
completely irrelevant
whether China is a developed or developing country. Paris Agreement makes no distinction between two categories.Your country Finland, is still spewing
more CO2
per capita than ChinaMost likely we will drop under China anyway with the introduction of newest nuclear power plant. We will produce 90% of the electricity without co2 starting 2022. And next nuclear power plant coming up in 2028 so after that it's 0% in terms of power. Then it is only cars and stuff like that. Ofc China is behind also simply because they are not that rich per capita either so not buying useless things and everyone having a car and all the appliances known to man.
Click here to post a comment for this news story on the message forum.
Senior Member
Posts: 158
Joined: 2004-10-17
This is true I believe but you have A LOT of people out there who think renewables will save the day if we would just put enough of them out there. Currently (as I understand it) it's just not the case given the energy they produce AND some of those methods while producing clean energy are not environmentally friendly themselves.
It's like this electric car situation. As things sit now what many are doing is just charging a giant non-environmentally friendly battery (made with resources using Lord knows what horrible methods) and it's not "clean" energy that is charging that battery. I always thought hybrids were a much wiser choice.