MultiversX Tracker is Live!

How does Bitcoin's energy usage scale?

Bitcoin Reddit

More / Bitcoin Reddit 253 Views

A frequent point of criticism is the high energy usage that comes with Bitcoin mining. Advocates of Bitcoin point out that the existing banking system also uses a lot of energy and that Bitcoin mining is / could be powered by renewables. However they fail to answer the most basic question which is implied by the original criticism: How does the energy usage scale as a function of

the number of transactions,

the value of a Bitcoin,

the total amount of Bitcoin mined so far,

the share of Bitcoin transactions of all financial transactions,

the total amount of power produced in the world,

the world economy as a whole?

Or in other words: How much energy will we need to consume if the whole world runs on Bitcoin and layer-2 technologies are widespread?

I think these questions are important to see if that angle of attack of bitcoin bears any merit at all.

submitted by /u/I_bims_der_Jens
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments