Re:Why blockchain is not yet working (2018)
by bawolff on Sunday February 14, 2021 @05:37AM
(#26131156)
Well i agree that the energy cost is immense, it doesn't scale with number of users but mining power.
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Re:Why blockchain is not yet working (2018)
by Ekaros on Sunday February 14, 2021 @05:48AM
(#26131211)
Energy cost scales with value of coins produced. As the price of bitcoin goes up so does the cost of energy and equipment used for mining. Market searching optimum.
This will be fixed at some point, but the point when rewards get low is very far away... So if Bitcoin were really come the one true currency with global market cap, the costs would be enormous...