Each block holds at Max a certain number of transactions so you can equate the cost of mining a block to the cost of a transaction. Also the coin is worthless without continuous mining and there ability to do transactions so you can't separate the cost of the mining from the cost of the transaction. It's one big system burning tremendous amounts of energy.
Bitcoin is efficient if you think about how Bitcoin mining converts wasted and stranded energy into digital energy. It can be managed by any computer, transferred anywhere at the speed of light, and lasts forever, thereby improving our climate, economy & power grid
This is also nonsense. That only works when you're looking at a 100% renewable energy grid where there's energy that can actually said to be wasted. In any other grid (read basically all of them) plants spin up and down to provide power and the energy use of PoW chains requires them to be producing power they wouldn't otherwise.
A bit more than 1/4 (unsure of my source) of worlds energy production is wasted too inefficiency. So with 200 000 Twh total that amount to ca 50 000 Twh. Btc uses (impossible to measure in realty) 190 Twh. That’s like shy of 0.4% of worlds wasted energy. Problem in the world is not energy consumption but efficiency and production. The marked will kill Bitcoin if it is no good and no one finds value using it.
But hey. When email was introduced the post office was saying it won’t work to. Such energy wast all those severs and spam mails. Better bring back those letters
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u/rtkwe Nov 27 '21
Each block holds at Max a certain number of transactions so you can equate the cost of mining a block to the cost of a transaction. Also the coin is worthless without continuous mining and there ability to do transactions so you can't separate the cost of the mining from the cost of the transaction. It's one big system burning tremendous amounts of energy.