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The website linked is actually measuring the amount of energy that BC is using right now to operate. It's not the total amount of energy used to create the BC
by africanboy 6y ago
The website linked is actually measuring the amount of energy that BC is using right now to operate.
It's not the total amount of energy used to create the BC network, the software, the HW and everything else.
https://cbeci.org/ https://cbeci.org/
> The Cambridge Bitcoin Electricity Consumption Index (CBECI) provides a real-time estimate of the total electricity load and consumption of the Bitcoin network. The model is based on a bottom-up approach initially developed by Marc Bevand in 2017 that takes different types of available mining hardware as the starting point.
> The first number refers to the total electrical power consumed by the Bitcoin network and is expressed in gigawatts (GW). This figure is updated every 30 seconds and corresponds to the rate at which Bitcoin uses electricity.
The second number refers to the total yearly electricity consumption of the Bitcoin network and is expressed in terawatt-hours (TWh). We annualise Bitcoin’s electricity consumption assuming continuous power usage at the aforementioned rate over the period of one year. We apply a 7-day moving average to the resulting data point in order to make the output value less dependent of short-term hashrate movements, and thus more suitable for comparisons with alternative uses of electricity.
- thebean11 6y agoThe parts of PS4 and Bitcoin that are expensive are different. It makes zero sense to compare the expensive part of Bitcoin to the cheap part of PS4
- foepys 6y agoDo you think the bitcoin mining rigs materialize themselves out of thin air? Those things get constantly replaced because they get inefficient due to the rising hashrate and advancements in chip efficiency.
- thebean11 6y agoThe ratio of energy spent running to energy spent producing is orders of magnitude higher for bitcoin rigs than for PS4s. I disagree the comparison is useful.
- africanboy 6y agothat's simply because a PS4 is orders of magnitude more energy efficient than BC and was designed to be like that BC on the other hand are very expensive in terms of energy consumed, by design BTC don't make any sense energy wise and in the end don't make any sense to invest in something designed to burn energy in the long run, especially now that we are trying to fix the mistakes of the past