Post
Topic
Board Speculation
Re: $500,000 per Bitcoin, baby. The math behind it.
by
BurtW
on 06/08/2014, 01:01:52 UTC
I think this makes it hard to predict how much power consumption is for a certain target hash rate. At least I think that's true... check my logic please?

Kind of agree with you.  I am saying that power consumption is a function of price.  I never said that power consumption is a function of target hash rate.  Efficiency is defined as the relationship between hash rate and power: Efficiency (Hashes/Joule) = (Hashes per second/Watts) there is nothing more to the relationship between power consumption and target hash rate.  That relationship:

(the system wide average number of hashes per second) / (the system wide average power consumption)

is the system wide efficiency (Hashes/Joule or Hashes/kWh).