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It irks me that the wastefulness of bitcoin is proportional to how valuable it is, and I don't think that changes even when miners are only competing for transa
by wufufufu 9y ago
It irks me that the wastefulness of bitcoin is proportional to how valuable it is, and I don't think that changes even when miners are only competing for transaction fees.
edit: Waste might even be exponentially proportional to bitcoin value...?
- nokcha 9y agoIn economic equilibrium, the world-wide energy cost to mine one block would be approximately equal to the revenue from mining the block (transactions fees + newly generated bitcoins).