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Maybe I wasn't clear in my original message. I meant that with lower block rewards and lower transaction fees (through lightning and other advances), the total
by andruby 8y ago
Maybe I wasn't clear in my original message. I meant that with lower block rewards and lower transaction fees (through lightning and other advances), the total reward for mining would go down, removing the incentive for the large number of mining operations.
On the large scale, I don't see mining efficiency affecting total bitcoin power usage, but I do see rewards impacting it. (higher BTC price => higher economic incentive to mine => more investments in mining operations => more power usage)
I think a lower bitcoin Hashrate would actually be a good thing (for power consumption and pollution)