Bitcoin Electricity Consumption
I am so sick and tired of seeing people claim that bitcoin is going to fail because of the massive electricity consumption.
It's a lot like saying that somebody is going to starve to death because they are eating too much!!
*img source pixabay
The trajectory of bitcoin electricity consumption is closely linked to (and in fact driven by) the rise in bitcoin price. Whenever the bitcoin price is stagnant over some extended period, bitcoin electricity consumption declines as less efficient miners are the first to go offline.
To assume that bitcoin electricity consumption continues on its current trajectory is, by definition, to assume that bitcoin price continues on its current trajectory. You can't have the argument both f***ing ways!!!
"It's a lot like saying that somebody is going to starve to death because they are eating too much!!"
LOL fucking gold man, made me laugh my ass off. Thanks!
Ha! I'm glad somebody found it funny
Very well said.. makes no sense at all 🤣
Thanks!
One article I read said that Bitcoin electricity consumption could exceed the whole united States by 2020...
If that happened we could replace the entire grid with decentralized solar, and pay for it with Bitcoin. Actually that probably would happen in its own.
The problem isn't Bitcoin, it's corrupt centralized governments keeping electricity at below market rates so they can take Bribes from Bitcoin miners
Yes! I completely agree with you. There is many people who don’t understand how it all works (including me) But this stuff it’s all commonsense!!!
Nice post brother about bitcoin..
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good for steemit follow now
In the long term electricity consumption doesn't matter as it will be all clean energy powering the network
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