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> either Bitcoin becomes widely deployed for actually facilitating transactions, in which case its energy use grows proportionally, or its energy use plateaus
by trident5000 5y ago
> either Bitcoin becomes widely deployed for actually facilitating transactions, in which case its energy use grows proportionally, or its energy use plateaus
Again thats not how it works. Energy usage does not grow in proportion with transactions. It grows in proportion to hash rate which is a function of market capitalization value. I can assure you the MC of bitcoin is not going to grow exponentially infinitely because that is a physical impossibility.
- hn_throwaway_99 5y agoAgain, you keep proving my point. Yes, you are absolutely correct, energy usage is a function of market cap. But my point is that if people actually start using Bitcoin to facilitate transactions (instead of its primary purpose of a speculative asset as it exists today) then its market cap would explode. And again, this has been what Bitcoin proponents have been arguing forever now - that the time to "get in" is now, because once it starts being used for "real commerce", demand will soar. There is just no getting around the fact that the more "popular" Bitcoin gets ("popularity" eventually has to show up in market cap) that its energy use will grow in lock step.
- trident5000 5y agoNo, I dont think I am. You specifically said “in proportion” to transaction volume, not as a non linear residual effect. That is an incorrect growth assumption. And frankly you’re editing your answers above too fast for me to keep up with.