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The total value of Bitcoin produced and changed as fees is presently in the order of US$50M per day. Miners are competing very profitably, on aggregate, for th
by stblack 6y ago
The total value of Bitcoin produced and changed as fees is presently in the order of US$50M per day.
Miners are competing very profitably, on aggregate, for this amount of money daily.
Therefore the full-factor cost of the global Bitcoin network is under $50M per day.
So whatever these people say about global energy use, it's under $50M per day.
- oliwarner 5y agoI feel like this stretches the meaning of value into deep space. It's a speculative monetary value, based in confidence of return. Its value evaporates with that confidence. It only takes one person or ban from one country to start a cascade sell off, and see its value go off a cliff. > So whatever these people say about global energy use ... Is that it's destroying the planet for fun and profit. It's using a large country's power to do nothing of any tangible value. And it seems to be a bizarre thing to encourage as we cruise into a global climate disaster.