4 ms·
I'm not buying that for a second, unless that calculation includes the power it took to mine the coin in the first place (which is not consumed by the transacti
by fuzxi 6y ago
I'm not buying that for a second, unless that calculation includes the power it took to mine the coin in the first place (which is not consumed by the transaction any more than cash changing hands consumes cloth and ink).
- patmcc 6y agoHow do you think transactions are verified? There's a limit to the number of transactions per block, and each block takes ~10 minutes to mine. So; ~2000 transactions/block, 600 seconds, 0.3 seconds/transaction. How much energy does the global bitcoin network use in 0.3 seconds? About 700 KwH, far as I can tell. (Based on 76.87 terawatt hours annually in 2020, as an estimate for bitcoin). A house uses ~1000/month, ballpark.