Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin


Hi Folks of r/Bitcoin! This week on The Local Maximum, I decided to go through a simple analysis of the idea that energy use from Bitcoin Mining is going to be a problem:

Episode 83 – Bitcoin Energy Alarmists, Musk and Ma in Different AI Universes, and Gab picks a fight
https://www.localmaxradio.com/episode/83

The basic approach is the assumption that miners are chasing after the block rewards, and therefore won’t spend more than what they expect the block reward to be worth. Since we know the block rewards with close-to-certainty into the future, and we can make a very generous assumption about the price of bitcoin, we can figure out how much miners would be willing to spend in the future.

I believe that in practice they will spend much less, and only a fraction of those resources will be used for energy consumption.



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Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin
Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin
Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin
Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin
Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin

Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin

Debunking The Idea That Bitcoin Mining Is Going To "eat The World" In Terms Of Energy Consumption : Bitcoin