Post
Topic
Board Press
Re: [2020-01-28] Your Bitcoin Should Be Seized to Pay for Climate Reparations
by
stompix
on 29/01/2020, 10:13:11 UTC
When I read that I thought it definitely must come from our beloved Greta but it seems stupidity is both contagious and evolving.
But at the same time, I find comparisons like this falling not that far away

Define gargantuan, Power consumption equivalent to a tiny country like Switzerland is not gargantuan.

Are we really going to compare and say that 9 million people traveling, working, partying and making chocolate and watches consuming the same amount of energy as 300 000 people doing a transaction a day is the same?

Although I am personally pushing for maybe a better or improved Bitcoin mining technology that can consume lesser power,

There is no such thing.
The main factor driving energy consumption up is the price.
If tomorrow bitcoin drops to 1$ and the reward will be 1800$ a day you will see a hundred people still mining with their Block Erupters.

If it goes to 1 million, expect an increase in energy consumption of 60 times because even after the halving the reward would be 900 million a day, out of which you can spend let's say 75% on energy and it will lead to some 240 billions worth of energy being used by miners.