Media: Bitcoin mining in terms of energy consumption is equivalent to energy consumption in Switzerland

According to the University of Cambridge, the bitcoin mining process accounts for 7 gigawatts of electricity, which is 0.21% of world electricity consumption, according to July 15, RT.

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Media: Bitcoin mining in terms of energy consumption is equivalent to energy consumption in Switzerland
Cool Mining 3 minutes ago

According to the University of Cambridge, the bitcoin mining process accounts for 7 gigawatts of electricity, which is 0.21% of world electricity consumption, according to July 15, RT.
Bitcoin

Bitcoin

By themselves, these figures are not so eloquent, but when you compare them with the consumption of any state, they become frightening – the energy consumed for the production of bitcoins is equal to the energy consumed by Switzerland.

Recall that Bitcoin is a unique payment system invented in 2009. The cost of one unit today is about 650 thousand rubles.

Background A cryptocurrency is a type of digital currency whose issuance and control are based on cryptographic methods. Typically, the issue of cryptocurrency is decentralized, but some states have announced the creation of their own cryptocurrency. Most cryptocurrencies have an upper limit on the amount of emissions.

The main feature of cryptocurrency is the inability to control the transactions by banks or government agencies. Only transaction participants can manage the transaction. Most cryptocurrencies do not hide information about tanzakzatsy, but their members are hiding behind pseudonyms. Thus, cryptocurrencies can be used in illegal operations.
Different states have different policies regarding cryptocurrencies. In some countries, they are legal means of payment, somewhere they are a special kind of goods, and somewhere transactions with cryptocurrencies are prohibited.

The first cryptocurrency was developed in 2009 by Bitcoin. Later, other cryptocurrencies appeared, but not all of them became widespread. You can buy or exchange cryptocurrencies on cryptocurrency exchanges. Due to the novelty and unclear status of cryptocurrencies, their rates can soar and fall in unpredictable ways, which leads to significant financial losses for those who use them.
Cryptocurrency is legal in the Russian Federation, but payments in them are prohibited, since the ruble is the only legal means of payment.

Details: https://regnum.ru/news/economy/2666163.html