4 ms·
Except that they do. Right now each Bitcoin transaction uses the same amount of energy as the average household does in a week (255 kWH according to https://di
by MrRadar 9y ago
Except that they do. Right now each Bitcoin transaction uses the same amount of energy as the average household does in a week (255 kWH according to https://digiconomist.net/bitcoin-energy-consumption https://digiconomist.net/bitcoin-energy-consumption which is more than I personally use in a month). Even assuming you're mining with very low-cost electricity ($0.04/kWH) that's $10.20... or about the cost of a BTC transaction according to the grandparent post. This high energy use is the cost of being decentralized, centralized systems like Visa, Mastercard, and ACH use much less energy per transaction than that.
- aboodman 9y agoThere are multiple existence proofs that you are wrong: Bitcoin Cash, Ethereum, etc.