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The reward for Bitcoin mining is fixed. The work required is variable. If electricity costs globally shot up, there would be far smaller mining operations but t
by PurpleFoxy 5y ago
The reward for Bitcoin mining is fixed. The work required is variable. If electricity costs globally shot up, there would be far smaller mining operations but the payout would be the same because the Bitcoin network adjusts its difficulty.
PoW is a beast that consumes everything it can.
- swiley 5y agoSure but the issue is the power consumption (which would go down) not the payout.
- gruez 5y ago>PoW is a beast that consumes everything it can. It doesn't really "consume everything it can" like a paperclip optimizer would. Like you said the reward for mining is fixed, so the amount of money/resources it can consume is limited to (mining reward * bitcoin price).