News for hackers. Stuff that matters.

A comment on Many Bitcoin Miners Are at Risk of Turning Unprofitable. Parent comment

Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by wufufufu on Wednesday April 18, 2018 @10:29AM (#16867654)
It irks me that the wastefulness of bitcoin is proportional to how valuable it is, and I don't think that changes even when miners are only competing for transaction fees.

edit: Waste might even be exponentially proportional to bitcoin value...?

[ Parent | on HN ]
Re:Many Bitcoin Miners Are at Risk of Turning Unprofitable by nokcha on Wednesday April 18, 2018 @10:45AM (#16867776)
In economic equilibrium, the world-wide energy cost to mine one block would be approximately equal to the revenue from mining the block (transactions fees + newly generated bitcoins).
[ Parent | on HN ]