Post
Topic
Board Economics
Re: Energy Consumption of the Bitcoin Network
by
brenzi
on 02/07/2014, 19:06:15 UTC
I think one way to slow the growth is reduce the block reward from 25 coins to just 1 coin per block, there is no way the BTC price will jump 25 fold to compensate as more then half the coins are already mined so there is no shortage of supply, and no reason for that much fiat to enter the market.

According to this formula:
[...]
GlobalEnergyConsumptionForMining ~= (MiningReward + TransactionFees) * bitcoinValueInUSD / EnergyCostInUSDperkWh[/i]
your suggestion might make things 25x better. But there would be a shortage of liquidity on the exchanges driving BTC price. So it's not 25x.
And it only works if people do not pay more transaction fees.