Re:The problem with Bitcoin miners
by FabHK on Monday May 16, 2022 @05:47AM
(#31395096)
> Proof-of-work requires, by design, that the electricity value expended on mining is proportional to the total market cap of Bitcoin.
I'd amend that to read: Proof-of-work requires, by design, that the money wasted on electricity and electro waste is proportional to the total market cap of Bitcoin times the mining reward (currently 6.25 BTC per block).
I'd amend that to read: Proof-of-work requires, by design, that the money wasted on electricity and electro waste is proportional to the total market cap of Bitcoin times the mining reward (currently 6.25 BTC per block).