Post
Topic
Board Development & Technical Discussion
Re: Is there any research being done to make the blockchain less energy consuming?
by
Borilla
on 15/11/2017, 17:59:05 UTC
because i have a consciousness and many hesitant adopters too

because economically  btc transactions cost way more in electricity than their fees and btc owners pay them all indirectly

sorry I thought all these were obvious


Re: "Consciousness" - It's probably better to leave religious beliefs or politics out of the Development & Technical sub-forum, that would be off-topic.


Re: the costs of producing a block - you've misunderstood the economics.

The fees don't pay for the block reward, the miners are incurring the electricity costs in order to profitably mine the block reward + transaction fees (profiting from transaction fees is in most respects out of the miner's control). The vast majority of the electricity used to solve a block must (at this stage of the block subsidy decrement schedule) be comparable to the market price of the block reward in order for it to be profitable for the miner. The miner cannot continue mining if they pay more to mine the block reward than the block reward can be sold for. The transaction fees are a largely insubstantial part of how a miner evaluates profitable operation, as fees are a small proportion of the block reward's BTC value.

Do you have a different economic model in mind?

you are missing all the points and confuse things
my question was clear and i will remain on the subject