With a network that continues to grow and increase in volume, bitcoin transaction requires more time and energy to complete all transactions. Some have warned that bitcoin transaction may no longer be ecologically sustainable, critics claim that one of the verification takes quite a lot of energy with a power of 1.57 at home in the US every day.
Christopher wrote in a blog Malmo, Vice motherboard used for transactions kriptokurensi about 5,000 times the electric power as well as to complete the VISA transaction. He estimated that the total power consumption of the bitcoin network anywhere 250-500 Megawatt (MW).
Bitcoin Transaction Efficiency
Of course, all this power arising from a secure network of bitcoin transactions are verified by multiple computers. "There seems to be a significant challenge to ensure that the growth of this Bitcoin minimize environmental impact," quotes Malmo Jeremy McDaniels, a sustainability expert financial system and the United Nations Environment Programme (UNEP). "The footprints of Energy could be a problem if it reaches a large scale-up."
Some have suggested an increase in the size limit of the block so that the network can accommodate many bitcoin transactions and complete verification at shorter time span with the associated energy costs are lower, but this idea has met with many opponents.
Of course Malmo also noted that there are variables in its calculation could still change. He acknowledged that the power requirements for mining bitcoin will not increase linearly with the increase in the value of the use of or transactions.
For now, it seems that the ecological challenge is not enough to prevent the Greeks from buying bitcoin, as their countries faced debts were so large. Capital controls have been put in place, leading to the closure of several banks and ATM withdrawal limits, triggering the Greeks to move their funds into Bitcoin.