4 ms·
1,500 megawatt is what i heard, so about 2% of grid and growing.
by supernovae 4y ago
1,500 megawatt is what i heard, so about 2% of grid and growing.
- galangalalgol 4y agoWhy is it growing? BTC is past the point that even asics get you to breakeven right? Eth2 went to proof of stake. What are people mining?
- obviouslynotme 4y agoSmart miners mine during the slumps in BTC prices when there is less competition. They get more BTC, even if it is currently worth less USD. They then hold the BTC for the next rally. Most large miners are also cash flush early BTC adopters who do it for hobby and ideology.
- postalrat 4y agoSounds smart until it isn't. ... honestly doesn't sound smart at all. Are they also buying or just overpaying by mining?
- pengaru 4y agoCryptocurrency is not at all something I've gone deep in, but don't "miners" always earn something in return for processing transactions? Otherwise how on earth would you incentivize the network existing in the long-term? Nobody is going to acquire/power/maintain/network/operate these hashing machines if there's no return for their efforts.
- kortilla 4y agoWell the point of proof of stake is that you don’t need the excessive wasted cpu power to prove transactions. So the whole concept of big expensive mining operations just evaporates for coins that use this. Proof of work (bitcoin) will always have them though. The lower bitcoin price will just wipe out the viability of a lot of miners and hash rate will decrease globally. At that point the network will adjust the difficulty until the target block rate is reached with the remaining miners who can afford at that expected payout.
- kadoban 4y ago> don't "miners" always earn something in return for processing transactions? Yes, but that is still subject to the cost of actually doing the processing. It's perfectly possible that it's net-negative for anyone without free power in a certain area. There can even be load differences when it's just not worth enough that every gamer will bother setting their machine to hash in off hours.
- Tao3300 4y agoEth is still PoW, so presumably someone is mining it. The most recent goalpost shift put the merge in September.
- smnrchrds 4y agoI am not sure which one we will get first: Fully autonomous Teslas, ETH PoS, or Half Life 3.
- supernovae 4y agono idea, but turning them off saved 1,500mw - our senators have been working hard to get more to move down here. It’s all power arbitration to me anyway.