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There is no set amount of electricity needed to move Bitcoin. The exchange of Bitcoin costs just as much as people are willing to pay for it. That amount can g
by ArtTimeInvestor 6y ago
There is no set amount of electricity needed to move Bitcoin.
The exchange of Bitcoin costs just as much as people are willing to pay for it. That amount can go arbitrarily low.
- bitcharmer 6y ago> There is no set amount of electricity needed to move Bitcoin. This is simply untrue. We're not talking about simply moving your wallet on a pendrive. In this context moving bitcoin means changing ownership and this simply cannot happen without electricity.
- ArtTimeInvestor 6y agoOnly as much energy as people are willing to pay for.
- JeremyBanks 6y agoSure, but that becomes problematic when your proof-of-work security level depends on that. It's inherently fucked.
- numbsafari 6y agoPerhaps to clarify, by “constant supply of electricity”, I did not mean a supply that is fixed in either price or amount, simply that it is necessarily greater than zero, which is definitely more than is required to exchange gold, which was done quite successfully long before we understood how to harness or generate electricity.