4 ms·
I'd like to point you to this Vice article titled "One Bitcoin Transaction Consumes As Much Energy As Your House Uses in a Week". Meanwhile swiping a credit ca
by bjo590 6y ago
I'd like to point you to this Vice article titled "One Bitcoin Transaction Consumes As Much Energy As Your House Uses in a Week". Meanwhile swiping a credit card uses slightly more electricity than a google query.
https://www.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change https://www.vice.com/en_us/article/ywbbpm/bitcoin-mining-ele...
- seibelj 6y agoDoes it not seem strange to you that if a BTC transaction costs $1 to $5 in fees, yet supposedly uses $50 or more in “actual” electricity costs, there must be a disconnect there? There is energy in certain places (underground, hydro) that cannot be transported to wherever journalists are writing their papers as they spitball electricity calculations.
- robjan 6y agoMiners don't just receive the fees. They also receive the mined bitcoins.
- ikt 6y agoSo the first article doesn't mention Ethereum and another article doesn't mention Hydro. This is why journalism has a bad wrap. https://news.bitcoin.com/how-big-hydro-power-partners-with-bitcoin-miners-to-prevent-energy-waste https://news.bitcoin.com/how-big-hydro-power-partners-with-b... China’s southwestern Sichuan province, a mountainous region that is estimated to have over 50% of the Bitcoin network’s total computing power https://www.coindesk.com/bitcoin-mining-hash-rate-rainstorms-china https://www.coindesk.com/bitcoin-mining-hash-rate-rainstorms...
- robjan 6y agoThe amount of hydro electricity that can be produced is fairly static, so increasing hydro consumption means that other energy sources (mostly coal) are needed to pick up the rest of the demand.