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Re:Bitcoin is not a store of value by andrewla on Monday September 19, 2022 @09:53AM (#32898306)
And that's the thing -- all the fancy gymnastics the article uses to derive the cost of running the network based on power utilization and power costs is irrelevant.

The Bitcoin network pays 238,500 BTC annually for its maintenance, plus fees. This is the amount that will be paid regardless of network difficulty, price of bitcoin, mining capacity, cost of electricity, capital cost of mining equipment, etc.

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