3 ms·

>how much energy does it consume? I'll give you a hint: it's less than 1MWh/tx, which is what bitcoin uses today.

• fredfoobar 6y ago
  Can you share how you worked that out?
  • ohgodplsno 6y ago
    Yearly bitcoin consumption: 120TWh Blocks mined per year: 52560 (One every 10 minutes: 6 * 24 * 365) Transactions per block: ~2000 2283MWh per block. 1 MWh per transaction.
    • fredfoobar 6y ago
      This is misleading, why are you using "transactions per block"? that's an incorrect metric, because blocks will get mined regardless of the number of transactions in it (in fact, you can batch WAY more transactions into a block). In the future, when you can account for millions of transactions per block, will you tone down this "bitcoin consumes a lot of energy" rhetoric? Also, you haven't spoken at all about the other side of the equation. Have you accounted for all the externalities for the other monetary network you are comparing Bitcoin to?