Re:Is Bitcoin Down or Just Me?
by tromp on Sunday January 09, 2022 @06:40AM
(#29862415)
> The litecoin transaction I do uses $0.02 of electricity. $0.02.
Litecoin processes about 100k txs a day and miners make about 1M$ per day.
So that comes to about 10$ in electricity per tx if we assume miners break even and ignore hardware depreciation. While this overestimates electricity costs, it's not off by orders of magnitude. This is the way that people attribute bitcoin's electricity costs to transactions.
Re:Is Bitcoin Down or Just Me?
by notch656a on Monday January 10, 2022 @07:40AM
(#29873881)
The marginal cost of the transaction is very close to the transaction fee. The block was going to be mined with or without my transaction. So no it definitely did not add $10 in electricity cost to add my transaction to the chain.
Litecoin processes about 100k txs a day and miners make about 1M$ per day. So that comes to about 10$ in electricity per tx if we assume miners break even and ignore hardware depreciation. While this overestimates electricity costs, it's not off by orders of magnitude. This is the way that people attribute bitcoin's electricity costs to transactions.
Your $0.02 is presumably just your tx fee.