3 ms·
3,600 * <Current Cost per Bitcoin> is probably a pretty good approximation of the daily cost. Since Bitcoin is currently ~$500, that's ~$1.8mm per day.
by Sambdala 12y ago
3,600 * <Current Cost per Bitcoin> is probably a pretty good approximation of the daily cost.
Since Bitcoin is currently ~$500, that's ~$1.8mm per day.
- imaginenore 12y agoIt's not a cost. They spend electricity and get money back. It's basically an indirect currency exchange. They obviously do it because the resulting conversion rate is slightly better than the market rate.
- UweSchmidt 12y agoNo doubt people get "money back". Contrast this however with a system where "numbers" (= the new "Randomcurrency") were randomly, or evenly distributed among the general population, which could be done basically for free. Compared to that, there is a cost, if you will. n powerplants had to be built, or x tons coal had to be burnt to do all the calculations. Does that make sense?