Quote from: odolvlobo on Today at 07:38:43 AM

Your calculations are straightforward, but the usage is not proportional to the price of a bitcoin because the price of electricity is not inelastic. As the usage goes up, the cost of electricity will increase more quickly.

Let's hope it will not grow at a rate that will impact prices as you will see a lot of negative reactions and even restrictions like the ones happening in a few places but on a far larger scale, I don't know how legit the news about Inner Mongolia is but if this keeps going on like this we will soon see them replicating quite soon as basically one location cutting electricity for miners means the load will shift to others

Quote from: Vishnu.Reang on Today at 10:31:32 AM

0.6% is not a very large amount. Also, the proportion of renewable sources in electricity production is growing with every passing year. Why no one is talking about the environmental footprint of minting coins and printing banknotes? How much ecological damage is done by the mining of metals that are being used to mint coins? Also, how much forest is cut down every year, for printing banknotes? Once mined, Bitcoin is indestructible. On the other hand, banknotes and coins need to be replaced time to time.

This KGB-style whataboutism propaganda is just as bad, What about that, what about that what about..
Ok, let's take banknotes
How many people in the world used bitcoin today? Half a million? How many people used banknotes? 5 billion?
How many people used BTC to buy food today? How many used cash?
I don't know why people are immediately getting triggered and rush to compare it to something else and their only defense is to point fingers: "Look, this is worse!"

Anyhow, the halving will take care of some of this, the revenue will drop by 75% in 7 years so even if the price will hit 200k will be at the same levels as now, the rest will probably be solved if we stop with all those renewables that only work with subsidies and go full nuclear, constant power no matter what time of the year and of the day.