Post
Topic
Board Economics
Re: The Moneyless Man
by
Luno
on 09/01/2013, 08:46:43 UTC
LOL wut?

Bitcoin is a 400 Megawatt waste of energy.

Do you even know what a Megawatt is?

He does not, probably, but I do: It is a measure of effect. You can convert it to horsepowers if you like. It is work (or energy) per time unit.


Yep you know the definition but don't bother to do the calculation 400MW is right: MW is power it's not work or energy. Work is power x time. A Lightning bolt is high power but of short duration so the total amount of energy or work in lightning strike is only around 70 KWh.

Horsepower is, as the name implies, power. There is a unit called "horsepower hours" which you use to compare stationary engines fuel efficiency.

Sometimes you se and ad: " This space heater uses 2 KW hour per hour" Which is a comlete mess up of the units; if a space heater used 2KWh of energy in one hour, the the power of the heater is 2 KW, no reason to multiply and divide the same hour in one sentence.  Likewise when you talk about your mining rig, it uses 2000 Watts. In a month that's 730.48 hours and your electricity bill will be for 2000 Watts x 730.48 hours = 1461 KWh or 1.461 MWh.

So the post about global mining uses 400 MW, it implies that mining is 292 GWh per month so it sounds about right.