The Network Keeps Getting More and More Inefficient. Now Just One Bitcoin Transaction Uses as Much Energy as Your House in a Week
Bitcoin miners now have to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins. That's about as much as Nigeria, a country of 186 million people, uses in a year.
This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day). Since the average American household consumes 901 KWh per month, each Bitcoin transfer represents enough energy to run a comfortable house, and everything in it, for nearly a week. On a larger scale, De Vries' index shows that bitcoin miners worldwide could be using enough electricity to at any given time to power about 2.26 million American homes.
God this makes me so hard, capitalism fuck yeah. Farms burning electricity away for gainz, meanwhile that energy could power up Nigeria.
Lincoln Long
good thing the chinaman doesent give a shit and power is dirt cheap there
Jaxon Rodriguez
you taking all the energies stop!
John Green
What will Nigeria so with this energy? Nothing. They are decades behind. The major part (both wealthy and smart people) are running away instead of building up their country. Despite the massive curroption this will need decades to solve and no (invisible)help with tech or anything will hell them. The situation is even more fucked than the whole Islam.
Fuck wrong Board.
Robert Taylor
what's your point
Ayden Moore
Faggotry, plenty of opportunity to switch to sustainable methods but governments don't give a fuck, don't hate the player. Hate the game.
Dominic Sanchez
It costs visa 0.0002 cents to transfer a million dollars. It costs the bitcoin network 1000 dollars to transfer 7000 dollars.
Seems a little retarded.
Jeremiah Phillips
Bitcoin is pure trash. Soon there's going to be a movement against Bitcoin because of how much power it takes to keep it running. Soon BTC will be worthless because people will become aware and move to stop its use. Stop living in the past fags.
Bentley Brooks
So who is losing these 1000 you talk of on the transaction? Miners are making money People sending 7k dont pay 1k on fees, more like 5$ You are full of shit pajeet
