 | It costs 3.5 times as much to mine gold as it does to mine Bitcoin. That is the narrative for today. Gold must clearly be physically discovered before being dug out and treated. However, it appears that the argument is now on weak ground. According to a recent research, creating Bitcoin consumes more energy than extracting the equivalent amount of gold from the ground. According to the The Guardian, mining $1 worth of Bitcoin requires 17 megajoules of energy, whereas mining the same amount of gold requires 5MJ."Although both assets take a significant amount of energy, Bitcoin's consumption is substantially greater since the network still need electricity to execute transactions and function," the Times stated. What do you all think about crypto energy consumption? References: [link] [comments] |
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