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A comment on Napkin math suggests Bitcoin will perish unless its mining incentives change. Parent comment

Re:Napkin math suggests Bitcoin will perish unless its minin... by qerti on Wednesday August 14, 2024 @12:08PM (#41247656)
Just wait until you find out how much energy the financial industry uses
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Re:Napkin math suggests Bitcoin will perish unless its minin... by lern_too_spel on Wednesday August 14, 2024 @12:13PM (#41247715)
If global finance ran on Bitcoin instead of on bank ledgers, all that energy would still need to be spent, but then an astronomical amount more energy would be spent on transaction processing on top.
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Re:Napkin math suggests Bitcoin will perish unless its minin... by Ekaros on Wednesday August 14, 2024 @12:12PM (#41247706)
Most likely they are not intentionally burning it for sake of burning it. And they do run almost all of the money in the world, so some energy expenditure is expected.
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Re:Napkin math suggests Bitcoin will perish unless its minin... by Volundr on Wednesday August 14, 2024 @12:37PM (#41247988)
How much? How does it compare to the energy currently being used for Bitcoin mining?
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