News for hackers. Stuff that matters.

A comment on One Bitcoin miner is buying 20,000 16nm wafers from TSMC per month. Parent comment

Re:One Bitcoin miner is buying 20,000 16nm wafers from TSMC ... by elmar on Monday January 22, 2018 @06:45PM (#16209308)
A little known fact is that validating a block with 1 Bitcoin transaction or all the world 10 minute transactions in Bitcoin would spend roughly the same energy.

The energy is spent on security independent of transaction volume.

[ Parent | on HN ]
Re:One Bitcoin miner is buying 20,000 16nm wafers from TSMC ... by GhostVII on Monday January 22, 2018 @09:20PM (#16210373)
But as transaction volume increases, the reward for mining increases, so miners will spend more money on electricity.
[ Parent | on HN ]
Re:One Bitcoin miner is buying 20,000 16nm wafers from TSMC ... by raverbashing on Tuesday January 23, 2018 @05:18AM (#16212348)
The fee reward increases, the mining reward decreases and the difficulty also increases

Until someone realizes it's cheaper to have their tokens moved by a different blockchain than the original BTC

[ Parent | on HN ]