Which yields 0.0148%. So you're right, not less than 0.01%, less than 0.015% instead. Still a far cry from 0.08$.
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I would really like to know when have I said my smartphone was gold-free, how that is in any way relevant to the discussion anyway and not a completely inane pseudo-gotcha, I would like to know why you keep linking bitcoin mining to coal (another completely transparent appeal to emotion), I would like to know when have I said worldwide production of gold is insignificant... I would like to know all those things but from the tone of your confident lecture responding to points I didn't even make I conclude you're not really into discussing this. Intellectual dishonesty is more your thing, I presume.
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And my point is that gold (of which, again, 95% is "useless" in the sense of not being destined to any practical application) costs on the order of ~1MWh per ounce to mine. At a yearly production of ~3000 metric tons that comes to 109TWh, almost an order of magnitude more than bitcoin.
From https://digiconomist.net/bitcoin-energy-consumption
>16.26 TWh/yr
From https://en.wikipedia.org/wiki/World_energy_consumption
>109613 TWh/yr
Which yields 0.0148%. So you're right, not less than 0.01%, less than 0.015% instead. Still a far cry from 0.08$.
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I would really like to know when have I said my smartphone was gold-free, how that is in any way relevant to the discussion anyway and not a completely inane pseudo-gotcha, I would like to know why you keep linking bitcoin mining to coal (another completely transparent appeal to emotion), I would like to know when have I said worldwide production of gold is insignificant... I would like to know all those things but from the tone of your confident lecture responding to points I didn't even make I conclude you're not really into discussing this. Intellectual dishonesty is more your thing, I presume.
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And my point is that gold (of which, again, 95% is "useless" in the sense of not being destined to any practical application) costs on the order of ~1MWh per ounce to mine. At a yearly production of ~3000 metric tons that comes to 109TWh, almost an order of magnitude more than bitcoin.