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Author Topic: Bitcoin blockchain currently costs 1 million/h to maintain  (Read 1137 times)

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Bitcoin blockchain currently costs 1 million/h to maintain
« on: January 07, 2018, 02:51:16 PM »
the Bitcoin blockchain currently costs $1 million/h to maintain at the current cost of roughly $16 000 per coin
that's a lot of electricity consumption ...
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Bitcoin blockchain currently costs 1 million/h to maintain
« on: January 07, 2018, 02:51:16 PM »

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Re: Bitcoin blockchain currently costs 1 million/h to maintain
« Reply #1 on: January 28, 2018, 04:24:58 PM »
Yes, and the bitcoin miners - especially the ones in China who get government subsidized electricity - benefit the most from this. It creates an entry barrier for new companies. Then the miners block any innovation in bitcoin's code.

The Chinese taxpayer loses, the bitcoin community loses,  and the world loses due to pollution and global warming.
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