4 ms·
> This means that in order to have Bitcoin serve as the daily currency for all of Argentina's 50 million people would at least 50-tuple its energy consumption.
by Erlich_Bachman 6y ago
> This means that in order to have Bitcoin serve as the daily currency for all of Argentina's 50 million people would at least 50-tuple its energy consumption.
That's not how Bitcoin or any PoW works. The amount of energy used is not a direct function of number of wallets. It is not either a direct function of number of transactions.
- bildung 6y agoThe only intermediate step is the fact that the amount of currency in circulation needs to raise. As that isn't possible with bitcoin, the price has to rise. And that increases the incentive for throwing more recourses into mining.