Reduce energy expenditure
More consumer units for better consensus
More commercial units for more gains
More energy consumption
k
No miner buys equipment that increases his operating costs.
A great many miners mine at a loss now for expected gains later, the fact you'd say something like that shows you know nothing about it. Do you know how much the electricity would cost you where you live to, on average, mine one bitcoin at present? I'll wait.
This staggering amount of power is the equivalent of 156 million horses (1.3 million horses per GW) or 49,440 wind turbines (412 turbines per GW) generating power at peak production per second.2
Regardless of the number of miners, it still takes 10 minutes to mine one Bitcoin. At 600 seconds (10 minutes), all else being equal it will take 72,000 GW (or 72 Terawatts) of power to mine a Bitcoin using the average power usage provided by ASIC miners.
One watt per gigahash per second is fairly efficient, so it's likely that this is a conservative estimate since a large number of residential miners use more power. Media outlets and bloggers have produced various estimates of the electrical energy used in bitcoin mining, so the accuracy of reported power use is sketchy, at best.
Imagine using that energy for desalination of seawater in drought stricken areas of the world or something. Instead, people are furiously burning gas or whatever in order to swap out useless fiat money for bitcoin for no utilitarian reason above it being worth more useless paper money later instead. It's depressing as all fuck, truly. "Great awakening" right?
Reduce energy expenditure
More consumer units for better consensus
More commercial units for more gains
More energy consumption
k
No miner buys equipment that increases his operating costs.
A great many miners mine at a loss now for expected gains later, the fact you'd say something like that shows you know nothing about it. Do you know how much the electricity would cost you where you live to, on average, mine one bitcoin at present? I'll wait.
This staggering amount of power is the equivalent of 156 million horses (1.3 million horses per GW) or 49,440 wind turbines (412 turbines per GW) generating power at peak production per second.2
Regardless of the number of miners, it still takes 10 minutes to mine one Bitcoin. At 600 seconds (10 minutes), all else being equal it will take 72,000 GW (or 72 Terawatts) of power to mine a Bitcoin using the average power usage provided by ASIC miners.
One watt per gigahash per second is fairly efficient, so it's likely that this is a conservative estimate since a large number of residential miners use more power. Media outlets and bloggers have produced various estimates of the electrical energy used in bitcoin mining, so the accuracy of reported power use is sketchy, at best.
Imagine using that energy for desalination of seawater in drought stricken areas of the world or something. Instead, people are furiously burning gas or whatever in order to swap out useless fiat money for bitcoin for no utilitarian reason above it being worth more useless paper money later instead. It's depressing as all fuck.
Reduce energy expenditure More consumer units for better consensus More commercial units for more gains More energy consumption k No miner buys equipment that increases his operating costs. A great many miners mine at a loss now for expected gains later, the fact you'd say something like that shows you know nothing about it. Do you know how much the electricity would cost you where you live to, on average, mine one bitcoin at present? I'll wait.
This staggering amount of power is the equivalent of 156 million horses (1.3 million horses per GW) or 49,440 wind turbines (412 turbines per GW) generating power at peak production per second.2
Regardless of the number of miners, it still takes 10 minutes to mine one Bitcoin. At 600 seconds (10 minutes), all else being equal it will take 72,000 GW (or 72 Terawatts) of power to mine a Bitcoin using the average power usage provided by ASIC miners.
One watt per gigahash per second is fairly efficient, so it's likely that this is a conservative estimate since a large number of residential miners use more power. Media outlets and bloggers have produced various estimates of the electrical energy used in bitcoin mining, so the accuracy of reported power use is sketchy, at best.
Imagine using that energy for desalination of seawater in drought stricken areas of the world or something. Instead, people are furiously burning gas or whatever in order to swap out useless fiat money for bitcoin for no utilitarian reason above it being worth more useless paper money later instead. It's depressing as all fuck.
Reduce energy expenditure
More consumer units for better consensus
More commercial units for more gains
More energy consumption
k
No miner buys equipment that increases his operating costs.
A great many miners mine at a loss now for expected gains later, the fact you'd say something like that shows you know nothing about it. Do you know how much the electricity would cost you where you live to, on average, mine one bitcoin at present? I'll wait.