Jump to content
AskTraders Trading Community
  • 0

Does the mining of cryptocurrencies require energy?


Ryan

Question

2 answers to this question

Recommended Posts

  • 0

Hello Ryan,
The mining of cryptocurrencies takes place online. This mining is different from that of minerals such as gold and diamond. Gold can be seen and felt while cryptocurrencies such as Bitcoin are invisible and are also referred to as digital currencies.
 Either way, both of them require energy. It requires approximately the same amount of energy to mine these metals as it is in cryptocurrencies.
Mining popular digital currencies such as Bitcoin usually consumes so much energy compared to mining the less popular ones. 
Real money fulfills purposes such as acting as a storage of value, buying and selling commodities, and acting as a unit of account. Cryptocurrencies also complete some of these purposes. Producing cryptos, however, requires more energy than while producing real money. 
The people mining the Cryptos use special software and a lot of power to compute what they produce. 
The energy used to produce the cryptos is usually such extensive thanks to the energy-intensive calculations required to be done by the computers. 

Link to comment
Share on other sites

  • 0

A lot of people has invested in crypto and lost a lot of money including my self. In 2023 I lost 190,000 USD by trading with fake brokers and making by investment choices, however Cryptocurrency trading has been really simplified in 2024. If you want to earn big money in trading visit ‘primecryptomarket.c_o_m’. My husband has just withdrawn his profit of 428,000 GBP without any stress. They process withdrawals with easy. 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. To reply to this question, sign in or create a new account.

Guest
Reply to this question

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...