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Your analysis would be appropriate if the block subsidy has becomes insignificant relative to the tx fees. Right now the former is still an order of magnitude l
by tromp 6y ago
Your analysis would be appropriate if the block subsidy has becomes insignificant relative to the tx fees. Right now the former is still an order of magnitude larger. That should change within 1-2 decades...
- gpm 6y agoYep, so... a quick glance at this site [1] suggests that revenue from transaction fees is slightly over 1/10^th the total revenue from mining (avg of last 7 days). That would move my estimate of 100kwh to 1000kwh... still the same order of magnitude as the original claims. [1] https://www.blockchain.com/charts/miners-revenue https://www.blockchain.com/charts/miners-revenue