It costs less to mine gold than it does to mine Bitcoin?

[darexgeorgieviya04]

It costs less to mine gold than it does to mine Bitcoin

The inefficiency of mining Bitcoin laid bare… Over the past few weeks, the criticism aimed at Bitcoin mining has grown. Chiefly for the fact that Bitcoin uses a lot of electricity to mine

[sashavich04]

So...what now? Bitcoin mining was never designed to be efficient. It's more secure the more inefficient it is, even. Things are working as intended.

If people are trying to say that it's a waste because you don't even gain gold at the end of it (this was implied within the article), then that's a completely subjective argument. Even most pollution concerns are grounded on predicted mining growth, not the current mining situation. People are making it into a bigger issue than it actually is.

[PALM]

One thing that they clearly haven't taken into account, is the fact that gold mining causes environmental damage on many other levels as well.
You shouldn't just look at carbon emissions, but also at other forms of pollution caused by gold mining.

In most of the western world, there are pretty strict regulations on how you can mine for gold, but that isn't the case in most of the third world.
There they still use mercury to recover gold, which heavily pollutes the soil.

[Aya]

One thing that they clearly haven't taken into account, is the fact that gold mining causes environmental damage on many other levels as well.
You shouldn't just look at carbon emissions, but also at other forms of pollution caused by gold mining.

In most of the western world, there are pretty strict regulations on how you can mine for gold, but that isn't the case in most of the third world.
There they still use mercury to recover gold, which heavily pollutes the soil.

Others will argue that at least with gold, you see that it is tangent, it is physically there. Unlike with Bitcoin wherein there is no certainty. As regards with the environmental impact, this could be addressed by proper mining practices.

[Sendo12]

Mining bitcoin is probably more costly because of the heavy-duty equipment but we can't deny that it is also a lot more convenient to mine, right?

[Trader_Rob]

Mining bitcoin is probably more costly because of the heavy-duty equipment but we can't deny that it is also a lot more convenient to mine, right?

But with the present situation, for me, mining Bitcoin is not worth it unless you have and can afford a lot of resources for mining.