Currently, bitcoin network consumes 26 TWh a year or 250 kWh per single transaction and is growing at a rate of over 1% daily (according to this website
https://digiconomist.net/bitcoin-energy-consumption.)
250 kwh (single transaction!) is now roughly the same to to what an average home/household uses in a month.
Is this really sustainable?
If bitcoin should grow even more, how much power will be used just to run it?
Wow, I had no idea that it was that bad! The worst part is that it could be run just as well on a few PCs, but it is just cycles of greed that force the miners to invest more and more or razor thin margins, so that they can get their Bitcoin.
I guess that improvements in efficiency will help flatten the curve, but I expect that it will still increase for a long time yet.
I wonder when the authorities will have something to say about the massive amount of wasted energy?