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 $$).
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.
there were not terrahash miners last year, just gigahash miners so the electric/has was more expensive.
180ghash for 1kw
1450Thash(1,449,977Ghash)
=8055kw
282 transactions
28.5kw/tx
again UK rate of electric(20c)
$5.71 per tx.
but customers do not pay $5-$20 per transaction.
think of it like gold. CUSTOMERS do not have to shave off small amounts of their hoard to pay $5-$20 in transactions.. instead the miners are given fresh gold straight from the mine. and can sell that fresh gold at the market rate.
customers however pay a spot price / (0.0001btc) which is only a few cents of shavings off of their hoard. not $5-$20