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LogoutThe reason why so much electricity is consumed is because it’s profitable. If it was not profitable, nobody would bother to waste energy to compete as miners.
Let us suppose that you could mine Bitcoin on a raspberry pie or cellphone. Let us suppose that the code was limited so that you could only mine with a raspberry pie or cellphone.
With 12.6 million $ profit at stake every day, everyone in the world would try to mine it on their cellphone. Everyone would get a cellphone that is overclocked and plugged into the wall all day long. Hell, some people would likely have a 100 cellphones running all day all night.
Even if you could make only 10 cents per day, that would mean you have 126 million cellphones around the world being overclocked and plugged into the wall all day long.
That too would likely be denounced as some sort of energy waste. It’s just that people don’t compare BitCoin operational costs with the current existing banking operational costs.