4 ms·

> 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 netwo

> 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.