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1) So on energy usage of BTC: The profile will change long-term. Right now the main driver is from block rewards. But as block rewards exponentially decay, those will become less relevant. Long-term, there are really two core drivers.

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2) First, transaction fees. There's limited block space, and transactions will basically be bidding in auctions for those. That means that greater demand for BTC transfers --> higher tx fees --> breakeven point with more miners --> more energy used.

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3) So long-term energy used by BTC will scale with total demand for BTC transfers. The other thing it scales with is security. If anyone accumulates 51% hashrate they can attack the network. So for BTC to be secure, it has to be prohibitively expensive to get 51% hashrate.

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4) The payoff from attacking the network scales roughly linearly in BTC price (market cap and/or $ value of xfers per block). So I think this scaling is similar to the tx fee scaling.

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5) Which means that: a) most of the current energy usage will decay away as block rewards go down b) the rest of the energy usage will scale ~linearly with BTC price

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6) All of this being said: a) right now crypto doesn't use a large % of global energy b) you have to look at the other side--how much do we waste powering middlemen in inefficient systems as is? c) even if BTC is value it might not be how most tx's happen

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7) But I think there _is_ long-term pressure to find a chain with great long-term scaling, that can power billions of users' transfers at minimal cost and latency. Anyone know a chain that fits that description?

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8) (

you should check out

; 50k TPS @ $0.0001 per xfer, ability to scale to millions of TPS, etc.)

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and

ok so on the one hand I love allies, on the other hand I'm not sure that we really want "iatepoopoo"

6:17 AM · May 13, 2021Twitter Web App

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please don't make meme coin out of that name 😂

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😂😂

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LMAO

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We have had enuf of shiva cock ass cumrockets

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Spit Take GIF

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read image description

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@Daisyprinciple

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Eat the poopoo!!

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hhh

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hhh+1 #Bitcoin #GILDRoadshow