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I wonder how that electricity usage compares to bitcoin mining. And by wonder, I really wonder, as I have no idea.
by jimkleiber 6y ago
I wonder how that electricity usage compares to bitcoin mining. And by wonder, I really wonder, as I have no idea.
- imtringued 6y agoMining costs money but returns bitcoin which can be sold for money. Miners can't spend more money than they would get by selling the bitcoin and receiving transaction fees. In theory the energy intensity of bitcoin should go down over time because the block reward is shrinking. Of course transaction fees could rise but processing transactions is different to wasting energy to mint a currency out of thin air. Paying transaction fees is like paying your taxi driver. It's expensive but it's absolutely necessary to get a ride.