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Bitcoin every consumption halves every two years since the mining profit halfs. Thus mining bitcoins becomes less profitable and thus more energy efficient over
by qznc 6y ago
Bitcoin every consumption halves every two years since the mining profit halfs. Thus mining bitcoins becomes less profitable and thus more energy efficient over time.
In the other, if the price increases faster than the mining yield drops, efficiency is decreased.
- celticninja 6y agoThis is incorrect. The mining reward halves every 4 years, but if the price of bitcoin goes up then so does the value of the reward. Also it is a bit of an arms race so more power is required to power more machines,to mine the same number of bitcoin.