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Yeah of course but if you want Bitcoin to be used by everybody (that's the goal of a currency after all), it becomes thus very profitable to mine and therefore
by realusername 9y ago
Yeah of course but if you want Bitcoin to be used by everybody (that's the goal of a currency after all), it becomes thus very profitable to mine and therefore an enormous amount of electricity is used. That's what I meant by a scaling issue, it works as long as there's not too many users.
- hndamien 9y agoThe energy cost of mining gold is proportional to the price of gold.
- moomin 9y agoWhen discussing environmental damage, I’m not sure gold is the thing you want to be comparing to.
- hndamien 9y agoJust making a point about the economics. The environmental destruction is caused by the energy production in the case of Bitcoin mining. In the case of gold mining, it is done by the mining.