Post
Topic
Board Bitcoin Discussion
Re: Bitcoin network cost is OK now, but may soon be hugely wasteful
by
stompix
on 25/12/2013, 08:14:21 UTC
I wrote this paper on this exact topic a few days ago:

https://docs.google.com/document/d/1Lb_iLMmH5sIiYfGeHr9tCTnaoWjK25zDlvO0nXXgEng/edit?usp=sharing

The TL,DR is that we're fine now, but as Bitcoin grows in value we may have a problem with electricity usage.  We (I) must reanalyze later!



You have some maths wrong in your paper. 11kw average consumption of a house , it's more like 33.
And why compare it to paypal or google?
Compare that to the electricity banks consume.
In my parents hometown ~ 50k they have 21 banks , 2 of them are 3 floors high and over 1000mp2 . Let's compare how energy they waste and how much the bitcoin network does.