3 ms·
> Bitcoiners' usual objection at this point is to claim that transactions per second is a bad measure, for some reason You've probably been told before but I'l
by ric2b 6y ago
> Bitcoiners' usual objection at this point is to claim that transactions per second is a bad measure, for some reason
You've probably been told before but I'll tell you the why again. Bitcoin's energy consumption is not proportional to the number of transactions it's processing.
The energy used is proportional to the block reward, the reward that miners get from mining a new block roughly every 10 minutes. They won't spend more money on energy than they get from mining, or they would go out of business. That mining reward goes up with price, (because it's paid out as a fixed amount of BTC) and goes down with each halving event (every ~4 years the block reward is cut in half in BTC terms).
The network can be doing 7tps or 7 million tps, doesn’t really matter for energy use, although higher usage can have indirect effects on price or other things.