Re:Just 137 crypto miners use 2.3% of total U.S. power
by FabHK on Friday February 09, 2024 @12:59PM
(#39318046)
Traditional banking also does a lot more than what BTC does.
BTC is about 9 orders of magnitude less efficient than the effective work it does.
Look, you can run a full Bitcoin node on a Macbook that uses 20W. It can easily verify 5 transactions per second, put them into a block, and compute the hash of it, and do some network communications.
The actual network uses 20GW, a billion times more energy, because they have thousands of nodes replicate the same work and then add PoW as a cherry on top.
BTC is about 9 orders of magnitude less efficient than the effective work it does.
Look, you can run a full Bitcoin node on a Macbook that uses 20W. It can easily verify 5 transactions per second, put them into a block, and compute the hash of it, and do some network communications.
The actual network uses 20GW, a billion times more energy, because they have thousands of nodes replicate the same work and then add PoW as a cherry on top.