Post
Topic
Board Bitcoin Discussion
Re: Transaction cost in kWh
by
amaclin
on 01/10/2014, 14:18:56 UTC
A year ago the hashrate was 200 times lower.
And transaction cost (calculated in kWh) was lower. Bitcoin had advantages of cheap transactions (according to the value of incoming $$).
Now the game is over.
If the miners will switch off some of their devices - the security rate will fall.
Switched off asics cost NOTHING to a potential attacker who wants to gain 51% power and create alternate chain of 1440 blocks (he pays only for electricity, hardware will cost near to zero)
Bitcoin will lose securing transaction advantages.
The end.

I do ask you again - can you plot a chart transaction cost in kWh
Do not post it to a forum! Analyze it yourself. Think.