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Okay, so if we're using energy consumption per unit 'utility' as a metric, how much energy should bitcoin consume to be in line with its utility?
by jeffe 5y ago
Okay, so if we're using energy consumption per unit 'utility' as a metric, how much energy should bitcoin consume to be in line with its utility?
- skohan 5y agoOff the top of my head, I could see it as reasonable to pay a 5-10% cost in energy efficiency comparing with traditional transaction systems to enable a truly decentralized model. Bitcoin is nowhere near that in terms of cost/transaction.
- imtringued 5y agoI was going to do a very fancy calculation but 136 TWh would be perfectly ok if Bitcoin did at at least 5k transactions per second with a transaction fee of $0.10.