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> A back-of-the-envelope calculation gives me $12Mn USD per day 3600.00 BTC or $1m is paid as subsidy per day. Are you saying that people are spending 12x tha
by pstrateman 11y ago
> A back-of-the-envelope calculation gives me $12Mn USD per day
3600.00 BTC or $1m is paid as subsidy per day.
Are you saying that people are spending 12x that on power?
I dont think so.
- scott_karana 11y agoDo your own calculation and see what you find, instead of think. This is HN after all. :) You have all the relevant numbers in my post after all: maybe I made a mistake? That certainly possible :P, since you seem to be right about the rewards paid per day. Or maybe people willingly factor in power costs as a price of speculating on a volatile, trending currency? Or maybe most power costs are actually carried in low-cost areas rather than North America and Europe, so my $0.05/kWh is an overestimate?