Re:Coinbase outages
by Balantio on Wednesday May 19, 2021 @05:15PM
(#27214542)
Does BTC makes sense if there would be no transactions?
If transactions are critical for everyone, wouldn't that mean that keeping bitcoin mining alive is a fundamental part of transactions?
We could argue that fiat keeps databases running (if we ignore physical money) and bitcoin is keeping blocks mining active.
I don't think it is wrong to say megatwatts per transactions. We could ignore this completly and say 'the baseload of just keeping btc running is x megawatts per hour' and that would just ring the same bells.
I'm pondering if we could also say something like "btc itself as a cryptosystem motivates actors to consume megawatts per hour due to the interest in btc and the current fiat<>btc exchange value"?
If transactions are critical for everyone, wouldn't that mean that keeping bitcoin mining alive is a fundamental part of transactions?
We could argue that fiat keeps databases running (if we ignore physical money) and bitcoin is keeping blocks mining active.
I don't think it is wrong to say megatwatts per transactions. We could ignore this completly and say 'the baseload of just keeping btc running is x megawatts per hour' and that would just ring the same bells.
I'm pondering if we could also say something like "btc itself as a cryptosystem motivates actors to consume megawatts per hour due to the interest in btc and the current fiat<>btc exchange value"?