Bitcoin Energy Consumption Index
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Bitcoin Energy Consumption Index
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Re: Bitcoin Energy Consumption Index
#2It says a single transaction generates almost 300kg of CO2. Surely not. 95g of e-waste also seems incredible. And 600 kwh of energy per transaction? Really.
Edit: based on a cost of electricity at $0.1/kwh, and assuming bitcoin operators break even and are rational, one transaction costs less than 3kw of energy:
If it cost 600kwh, we would assume a transaction would cost at least $60.
Electricity is probably a lot cheaper in China. If it was half as much we would be looking at under 6kwh of electricity at the most.
Re: Bitcoin Energy Consumption Index
#3I saw this a couple days ago when @arcticbull mentioned it here https://news.ycombinator.com/item?id=21256112
Jaw dropping.
Converted to Telsa Model S miles as per https://en.m.wikipedia.org/wiki/Tesla_Model_S
Comes out to about 2000 miles or 3200 kilometers for one Bitcoin transaction.
Astounding.
Re: Bitcoin Energy Consumption Index
#4This seems completely outrageous to me. I had seen similar numbers thrown around casually in the past but still found it hard to believe to be true, (despite being pretty bearish on Bitcoin myself). This seems to provide some pretty detailed evidence, analysis and validation directly addressing criticisms. It seems pretty thorough.
Is there any more to discuss on the topic of Bitcoin being outrageously wasteful? Or is this pretty much the final word?
Is Bitcoin figuratively, and almost literally, a tire fire?
Re: Bitcoin Energy Consumption Index
#5It says a single transaction generates almost 300kg of CO2. Surely not. 95g of e-waste also seems incredible. And 600 kwh of energy per transaction? Really. Edit: based on a cost of electricity at $0.1/kwh, and assuming bitcoin operators break even and are rational, one transaction costs less than 3kw of energy: https://bitcoinfees.info If it cost 600kwh, we would assume a transaction would cost at least $60. Electri…
Do you have some back of the napkin counter calculations? Or critiques of their methodology?
Re: Bitcoin Energy Consumption Index
#6It says a single transaction generates almost 300kg of CO2. Surely not. 95g of e-waste also seems incredible. And 600 kwh of energy per transaction? Really. Edit: based on a cost of electricity at $0.1/kwh, and assuming bitcoin operators break even and are rational, one transaction costs less than 3kw of energy: https://bitcoinfees.info If it cost 600kwh, we would assume a transaction would cost at least $60. Electri…
625 kwH is microwave oven running continuously for about 3 weeks. This is a lot of energy.
Re: Bitcoin Energy Consumption Index
#7A footnote says:
> The assumptions underlying this energy consumption estimate can be found here [1]. Criticism and potential validation of the estimate is discussed here [2].
[1] https://digiconomist.net/bitcoin-energy-consumption#assumpti...
[2] https://digiconomist.net/bitcoin-energy-consumption#validati...
Re: Bitcoin Energy Consumption Index
#8[deleted]
Re: Bitcoin Energy Consumption Index
#9Bitcoin is artificially limited in capacity by people like Adam Back and his company Blockstream.
The number of transactions is a simple limit set by whoever controls the Bitcoin GitHub Repo, thats it. Bitcoin Cash is much closer to the "Bitcoin" described by the inventor Satoshi Nakamoto.
Re: Bitcoin Energy Consumption Index
#10It says a single transaction generates almost 300kg of CO2. Surely not. 95g of e-waste also seems incredible. And 600 kwh of energy per transaction? Really. Edit: based on a cost of electricity at $0.1/kwh, and assuming bitcoin operators break even and are rational, one transaction costs less than 3kw of energy: https://bitcoinfees.info If it cost 600kwh, we would assume a transaction would cost at least $60. Electri…
If 625 kWh per transaction is accurate, then 300kg CO2 is plausible depending on the grid. Many electric grids emit 500g CO2 per kWh or more. Others are much cleaner depending on the production mix.
See: www.electricitymap.org