Post
Topic
Board Economics
Re: Bitcoin mining leads to cheaper energy, and also cheaper computation
by
Tytanowy Janusz
on 13/10/2022, 09:15:12 UTC
There is a lot of talk about how Bitcoin mining incentivises the creation of cheaper energy, but what is not often talked about is how it also incentivises the creation of cheaper computation.

I think bitcoin is not big enough yet to incentivizes the creation of cheaper computation.

According to studies gamers consumes similar electricity as bitcoin mining:
"Based on our very rough estimates, we found that the worldwide electricity consumption of people playing video games is 46% higher than the total consumption of Bitcoin mining as of November 2019."
https://braiins.com/blog/bitcoin-mining-vs-gaming

Especially that its a way cheaper to find less expensive energy source (just move a farm to different country) rather than improve efficiency of computation.