Electricity consumption of Bitcoin: a market-based and technical analysis

Re:Electricity consumption of Bitcoin: a market-based and te... by linsen on Saturday March 11, 2017 @11:52AM (#13846066)

They make the assumption that unprofitable hardware has been retired. But this assumes that the person profiting from the mining is also paying for the electricity.

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Re:Electricity consumption of Bitcoin: a market-based and te... by foepys on Saturday March 11, 2017 @12:11PM (#13846151)

> But this assumes that the person profiting from the mining is also paying for the electricity.

Otherwise it doesn't make sense. You cannot steal electricity forever.

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Re:Electricity consumption of Bitcoin: a market-based and te... by empath75 on Saturday March 11, 2017 @03:04PM (#13846943)

You can hack into new aws accounts forever.

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Re:Electricity consumption of Bitcoin: a market-based and te... by mrb on Saturday March 11, 2017 @03:32PM (#13847090)

AWS is highly inefficient to mine Bitcoins. A 4-GPU EC2 instance will mine less than $0.50 per year(!)

Realistically the proportion of miners who steal power is likely very small, as in one or two percentage points.

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