Isn't Bitcoin mining a waste of energy?

Modified on Mon, 6 Feb, 2023 at 10:13 AM

Spending energy to secure and operate a digital payment system is just like any other payment service.  Bitcoin mining undeniably requires a lot of energy to process. 

Nowadays, it is necessary for a monetary system to have a service for the operation, like banks, credit cards, military vehicles, etc. They are using a lot of energy too. But the difference is that their energy consumption is not transparent and can’t be as easily measured. So, it’s not a waste at all to spend energy to secure and operate a Bitcoin payment system like other payment service. Moreover,  Bitcoin mining has been designed to become more optimized over time with specialized hardware consuming less energy as well as lower operation cost.

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