{"id":26997,"date":"2017-12-04T15:35:45","date_gmt":"2017-12-04T20:35:45","guid":{"rendered":"http:\/\/ok-cleek.com\/blogs\/?p=26997"},"modified":"2017-12-04T15:36:14","modified_gmt":"2017-12-04T20:36:14","slug":"efficiency","status":"publish","type":"post","link":"https:\/\/ok-cleek.com\/blogs\/?p=26997","title":{"rendered":"Efficiency"},"content":{"rendered":"<blockquote><p><a href=\"https:\/\/powercompare.co.uk\/bitcoin\/\">Bitcoin\u2019s ongoing meteoric<\/a> price rise has received the bulk of recent press attention with a lot of discussion around whether or not it\u2019s a bubble waiting to burst.<\/p>\n<p>However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption used to \u201cmine\u201d more Bitcoins.<\/p>\n<p>According to Digiconomist\u2019s Bitcoin Energy Consumption Index, as of Monday November 20th, 2017 Bitcoin\u2019s current estimated annual electricity consumption stands at 29.05TWh.<\/p>\n<p>That\u2019s the equivalent of 0.13% of total global electricity consumption. While that may not sound like a lot, it means Bitcoin mining is now using more electricity than 159 individual countries... More than Ireland or Nigeria.<\/p>\n<p>...<\/p>\n<p>* If it keeps increasing at this rate, Bitcoin mining will consume all the world\u2019s electricity by February 2020.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s ongoing meteoric price rise has received the bulk of recent press attention with a lot of discussion around whether or not it\u2019s a bubble waiting to burst. However, most the coverage has missed out one of the more interesting and unintended consequences of this price increase. That is the surge in global electricity consumption [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26997","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=\/wp\/v2\/posts\/26997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26997"}],"version-history":[{"count":2,"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=\/wp\/v2\/posts\/26997\/revisions"}],"predecessor-version":[{"id":26999,"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=\/wp\/v2\/posts\/26997\/revisions\/26999"}],"wp:attachment":[{"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ok-cleek.com\/blogs\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}