Satoshi Nakamoto himself said 13 years ago, that “the utility of the exchanges by Bitcoin will far exceed the cost of the electricity used“. Now we can say that this is certainly true.

We all undoubtedly know how Bitcoin functions or at least have a rough overview of that. The answer basically is that through the Proof of Work mechanism developed by Satoshi Nakamoto himself with the help of other early adopters, energy through graphic cards or by now specific miners is used to generate one block of Bitcoin. Each Halving slows down that process and less and less Bitcoin rewards are made from each block.

But here we already had fallen into a economical hazard perhaps, because obviously mining also costs electricity and especially in the early days of Bitcoin many did not mine at all because the electricity costs would by far exceed the value they would have mined. So it was a no-win game.

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Quote of Satoshi Nakamoto himself, explaining how the utility of Bitcoin by far exceed the electricity used.

Though, Satoshi Nakamoto himself said exactly 13 years that one day the utility of the exchanges (trades) made through Bitcoin will by far exceed the cost of electricity. Therefore it would even be a “net-waste“ to not own Bitcoin. Did we already reach stage? Possibly.

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A very recent post of mine, about Riot mining 1 BTC for the cost of just $8.3k

For reference, the cost to mine one BTC in many reports is said to be even below $10k and even in more conservative and official estimates it is about $14k, so it is actually pretty safe to say that Satoshi Nakamotos predictions is actually on a good road to become true.