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Block space isn't the point. The price of a Bitcoin is. Raise the price, and mining will naturally spend more energy on it. Therefore, anything that raises the
by loup-vaillant 5y ago
Block space isn't the point. The price of a Bitcoin is. Raise the price, and mining will naturally spend more energy on it. Therefore, anything that raises the price of Bitcoin contributes to Global Warming.
- anonporridge 5y agoPrice of bitcoin * total block reward (new coins + fees) The total value of the miner reward does increase with price, but because of halvings every 210,000 blocks it's a slower rate than the price increases on its own. Note here, https://www.blockchain.com/charts/miners-revenue https://www.blockchain.com/charts/miners-revenue, that the current miner reward (in USD) is currently lower than it was at the peak of the 2017 bull run, despite the unit price being approximately double.