4 ms·

Important to mention, is that power consumption is not related to amount of transactions. If bitcoin would allow ten times the amount of transactions tomorrow,

by berkes 8y ago

Important to mention, is that power consumption is not related to amount of transactions. If bitcoin would allow ten times the amount of transactions tomorrow, the power consumption would not increase. Power consumption is related to difficulty and the rewards, which is linked to the price of a Bitcoin.

qeternity 8y ago
> Power consumption is related to difficulty and the rewards, which is linked to the price of a Bitcoin. Difficulty is determined by the hash rate of the network. One would expect there to be a link between hash rate and price but that's correlation not causation.
- drexlspivey 8y ago
  Nonsense, if it costs you $5000 to mine a bitcoin and the price is $1000 then you have no reason to mine it and the hashpower would lower.
  - jki275 8y ago
    From a naïve perspective of only mining for profit that's sort of true. Lots of people mine for other reasons.
    - sblom 8y ago
      Still probably not related to amount of transactions.
      - jki275 8y ago
        True, since the number of transactions is unrelated to the hashrate of the network.