3 ms·
It's not that power intensive to do a BTC transaction (although the requirement for every full node to duplicate the work kinda limits its relative efficiency).
by sp332 6y ago
It's not that power intensive to do a BTC transaction (although the requirement for every full node to duplicate the work kinda limits its relative efficiency). What drives up the power usage is the way miners compete for new bitcoins. 25 new bitcoins are minted every ~10 minutes, and 1 BTC is worth 56,378.78 USD right now, so the miners can collectively spend up $1.4 million (in electricity, hardware depreciation, etc) every ten minutes and still break even.
- incrudible 6y ago> 25 new bitcoins are minted every ~10 minutes Current block reward is 6.25 and it will be half that by 2025.
- sp332 6y agoOh, huh... I thought I might have missed one halving, but not two!