PwC (PricewaterhouseCoopers) blockchain expert - Alex de Vries claimed that only 2% of machines mining Bitcoin ever manage to find a block during their short lifetimes! 98% of them fail to verify transactions!

He estimates that 98% of mining machines failing to find a block – and therefore validate transactions – over their short lifetime of 1,5 year. Alex stated that most of the mining machines are, as such,

“running pointlessly for a few years, using up energy, and producing heat, and then they will just get trashed because they can’t be repurposed. It's insane."

For that reason he decide to create a blog to highlight impact of that:https://digiconomist.net/bitcoin-energy-consumption

He estimated that one BTC transaction uses the same amount of electricity as a British household for nearly two months!

Also energy needed to run the cryptocurrency’s network has soared to record annual highs of 77.78 terawatt hours (tWh) - the same as the entire electrical consumption of Chile (which population is 17,574,003)!!!

On that blog we can found even a chart that shows how much of energy Bitcoin consume:

Another interesting infographic on blog show what is a Carbon Footprint, Electrical Energy and Electronic Waste that produces single BTC transaction and how much it is produced in annual.

Alex also said that a single BTC transaction has the same carbon footprint as 780,650 Visa transactions, or 52,043 hours watched on YouTube!

I must admit that in current eco-oriented era those data looks really scary.

Also I encourage you to read the entire Alex blog - it is very, very interesting: https://digiconomist.net/bitcoin-energy-consumption

What do you think about that? Isn't mining BTC just waste of energy?

• If You want in easy way earn 2 USD in a a few days check my another post: https://www.publish0x.com/otek/lbry-earn-2-dollar-in-a-10-days-30-seconds-daily-xvnkwo