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A comment on Bitcoin Mining Now Consuming More Electricity Than Many Countries. Parent comment

Re:Bitcoin Mining Now Consuming More Electricity Than Many C... by Banderly on Wednesday November 22, 2017 @07:02PM (#15761759)
Or put another way, approximately enough to power 110 of the most powerful supercomputers in the world, the Sunway TaihuLight, that would give a combined performance of 10 exaFLOPS.

https://www.top500.org/list/2017/11/?page=1

Given bitcoin's current throughput that's about 1 exaFLOP equivalent per bitcoin transaction.

There is no wealth being created here, merely a lot of wealth being rapidly redistributed with a great proportion of that literally turned into heat.

This will not end well.

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Re:Bitcoin Mining Now Consuming More Electricity Than Many C... by Itsdijital on Wednesday November 22, 2017 @11:08PM (#15762659)
Although I'm a bit of a biased (dumped btc) hypocrite (made good money from it), bitcoin kinda needs to die. There are vastly superior alternatives that improve on btc in pretty much every way. Bitcoin has got the name though, so people keep buying it.
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Re:Bitcoin Mining Now Consuming More Electricity Than Many C... by runeks on Thursday November 23, 2017 @02:52AM (#15763556)
> Given bitcoin's current throughput that's about 1 exaFLOP equivalent per bitcoin transaction.

A block adds an extra confirmation to all transactions in the chain, not just those in the given block. The goal is to make the entire chain as difficult to alter as possible, and each added block increases that difficulty.

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