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Universes
Kelly
Posted Tuesday, July 26, 2022
1y
ENFP
Did you know? Bitcoins use as much energy as the entire country of Argentina
One bitcoin transaction takes 1,449 kWh to complete, or the equivalent of approximately 50 days of power for the average US household. To put that into money terms, the average cost per kWh in the US is close to 12 cents. That means a bitcoin transaction would generate approximately an energy bill of $173. If Bitcoin mining was a country, it would be in the top 30 of countries based on energy consumption.
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Konstantin
1y
INFJ
Leo
Yes! It's so unfortunate. The early tech is not a very scalable implementation. Luckily, there are newer ones that lessen the need for miners or rid of them altogether. Directed Acyclical Graph implementations look promising. Distributed ledger systems are a promising technology, but it's being used for short-term profits unfortunately 😞...
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