3 ms·

> It's tightly constrained by the miner reward reward in a currency for which you buy the energy. This takes into account the current btc/eur price in finland,

• anonporridge 5y ago
  You're right. The real constraint is the miner reward priced in the various currencies electricity producers want, which has gone up tremendously even with inflation rate halvings. But bitcoin is currently about a $1 trillion asset class, and growth of it's price has been slowly logarithmically for years. Most bullish cases suggest an eventual value of $10 trillion (in line with gold) to $100 trillion (in line with global bond market). But it's likely going to take decades (with several halving cycles) to get there. Unless you're suggesting that it's likely to balloon in value even more and/or fast than that, I don't see mining ever becoming the biggest problem we have to deal with. Especially since bitcoin holders don't see PoW mining as a liability, but as a mission critical feature of the system.