Re: [ANN][PHS][50% PoS ONLY] PhilosopherStone | NoPremine | ~64% compound | 1.6.6.4
Here is part of my calc on BTC at time of March 2015, maybe expert people do more research into this, from my perspective need of fully POS coins is given by math.
Please correct some numbers you know better, even if 10% is real, too much carbon is burning in this moment, possible >1,6 million tons of coal a year, by a software with only 3 billions market cap, what else can go wrong?
Code:
I updated current Bitcoin electric energy consumption, calculated like here:
http://www.reddit.com/r/Bitcoin/comments/2hlwpy/5_terrawatt_per_hour_bitcoin_network/cktv3xl
BTC global hashrate:
360.000.000 Megahash/Second
Source: https://blockchain.info/charts/hash-rate
Current mining efficiency:
Optimistic: 0.51 Wh per Gigahash/s
Source: https://bitcointalk.org/index.php?topic=902305.0
Consumption of the network per year:
(360 000 000 / 1000) * 0.51 = 183 600 kWh per hour
183 600 x 24 x 365 = 1 608 336 000 kWh p.a. = 1.6 Terrawatthours per year
http://www.reddit.com/r/Bitcoin/comments/2hlwpy/5_terrawatt_per_hour_bitcoin_network/cktv3xl
BTC global hashrate:
360.000.000 Megahash/Second
Source: https://blockchain.info/charts/hash-rate
Current mining efficiency:
Optimistic: 0.51 Wh per Gigahash/s
Source: https://bitcointalk.org/index.php?topic=902305.0
Consumption of the network per year:
(360 000 000 / 1000) * 0.51 = 183 600 kWh per hour
183 600 x 24 x 365 = 1 608 336 000 kWh p.a. = 1.6 Terrawatthours per year
Please correct some numbers you know better, even if 10% is real, too much carbon is burning in this moment, possible >1,6 million tons of coal a year, by a software with only 3 billions market cap, what else can go wrong?
Hi mxn,
In fact the starting point is 0.51 J/GH, which equates 0,000277778 Wh/GH, not 0.51 Wh per GH/s
This is a pretty tricky conversion to use to go from Joules to KWh and Wh: 1J = (1/3600000)kWh = 1 Ws = 0,000277778 Wh
This can help: http://www.unitconversion.org/unit_converter/energy.html
In addition, the total Hashrate is 360 000 000 GH/s, not MH/s.
Then if you assume 1,842 kWh per ton of Coal following US Energy Information Administration, the estimate would be >870'000 tons of coal...
Source: http://www.eia.gov/tools/faqs/faq.cfm?id=667&t=6
See below-
Power Efficiency 0,51 J/GH
Total BTC GH/s 360 000 000,00 GH/s
Total BTC GH/H 1 296 000 000 000,00 GH/H
Hourly BTC energy consumption (J/H) 662 025 974 025,97 J/H
Hourly BTC energy consumption (KWh/H) 183 896,10 KWh/H
Yearly BTC energy consumption (KWh/Y) 1 610 929 870,13 KWh p.a.
Tons of Coal/Kwh 0,0005429 T/KWh
Yearl coal consumption 874 554,76 T p.a.
I've double-checked with the calculator from Coinwarz and the math square. On average, the J/GH consumption may be roughly double of the AntMiner you used as a starting point - so you have ultimately produced a good estimate of Coal consumption
This is indeed VERY bad.