Isn't the difficulty of mining bitcoins increasing ? Hence, it means energy use will increase accordingly. Nice to have : cost in energy per bitcoin on the hypothesis 10% more are mined. And if blockchains are distinct, the cost per transaction. See : https://en.wikipedia.org/wiki/Ronald_Coase …
Oh hey, someone else did the math and came to the same conclusion I did a few months ago.https://twitter.com/grist/status/1011747701384507392 …
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The theory of the analysis of firm as peer to peer entities (worker=firms too) (including social costs) is the reason he got a Nobel Prize in economy. Theory that he built exchanging in Mexico with the true pionneer : Trotsky Still valid in bitcoin world
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Dang this is awfully inefficient! I wonder if this will have any impact on investments in renewable energy sources... Hmm...
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But what is the energy usage of an office towers full of bankers?
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I had a thought; ok this uses absurd amounts of power, but the miners are highly motivated to create/support cheapest possible sources. If/when bitcoin mining {somethings into something else} other uses may be found for that power infrastructure. It'll be in odd locations tho.
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This is a problem though; it's not that clear that other uses will be found for more power infrastructure in those locations. Bitcoin mining is a very special use case in that literally all it needs is power. No transportation, only basic internet access is sufficient.
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