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That's not how Bitcoin works. The amount of energy used to secure the blockchain is not proportional to the number of transactions.
by 6nf 9y ago
That's not how Bitcoin works. The amount of energy used to secure the blockchain is not proportional to the number of transactions.
- ben_w 9y agoIt doesn’t matter that it’s not supposed to be proportional, it’s a simple scaling up from current energy usage and current transaction frequency to the world population. All that tells us is that bitcoin as it currently exists, and as part of the way it interacts with the real world has a flaw — it doesn’t tell us if that flaw is an oversight in the design or if it’s a gold-rush and/or a price bubble because humans are being irrational.