Australia consumes 5831 petajoules [1] or 1620 terawatt-hours yearly. In my model miners would consume a comparable amount (actually less): 800 terawatt-hours.

Australia consumes 5831 petajoules [1] or 1620 terawatt-hours yearly. In my model miners would consume a comparable amount (actually less): 800 terawatt-hours. Therefore Bitcoin and the Australian economy extract comparable economic value from energy. IOW if you think Bitcoin is not worth it, then Australia is not worth it :) Thanks for this interesting comparison! [1] http://www.industry.gov.au/Office-of-the-Chief-Economist/Publications/Documents/aes/2015-australian-energy-statistics.pdf http://www.industry.gov.au/Office-of-the-Chief-Economist/Pub...