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Bitcoin's energy consumption is a function of the number of miners, not the numbers of users. Just because more people transfer and use bitcoin doesn't mean mor
by Biganon 6y ago
Bitcoin's energy consumption is a function of the number of miners, not the numbers of users. Just because more people transfer and use bitcoin doesn't mean more energy is used.
- mikeyjk 6y agoTransfers use energy, though
- betterunix2 6y agoEvery transaction requires at least one block (typically several) to be added to the block chain, and the block size limit means that, in fact, energy consumption in Bitcoin is proportional to the number of transactions. Beyond technical details, there is also the economic incentive: miners are paid to include transactions in new blocks, and if there are more transactions (thus higher demand) the fee will rise and miners will consume more power in order to collect the higher fees.