OP analysis is wrong, bitcoin will take the amount of power equivalent to the value of the trade - NOT the value traded. Any comparison should be to the transaction cost for the industry, but most of that is 'bank tax' and not actual value.
Each block mined today yields about $300k worth of bitcoin and THAT is what is driving the energy use. It pays for a lot of electricity and mining cards. But bitcoins per block drop off over time and in 10 or at most 20 years nobody will be mining to get the new bitcoin, they'll mine only as much as people will pay for transactions.
When you successfully "mine" a block you include transactions in it and people will pay you for that - but not much. Are you going to pay $5 to transfer your $10 of bitcoin to somebody else? Nope.
The amount of energy used is arbitrarily determined by the demand for being a miner and that's currently dominated by the ~$300k value inherent to each block, which halves every few years of mining.
Less value in a block, less mining, less energy used. It's built into the bitcoin protocol to reduce power use over time.
Guy is an israeli shill. He's not here in good faith. He wants to justify murdering journalists because they speak out against israel and the children they rape/murder
OP analysis is wrong, bitcoin will take the amount of power equivalent to the value of the trade - NOT the value traded. Any comparison should be to the transaction cost for the industry, but most of that is 'bank tax' and not actual value.
Each block mined today yields about $300k worth of bitcoin and THAT is what is driving the energy use. It pays for a lot of electricity and mining cards. But bitcoins per block drop off over time and in 10 or at most 20 years nobody will be mining to get the new bitcoin, they'll mine only as much as people will pay for transactions.
When you successfully "mine" a block you include transactions in it and people will pay you for that - but not much. Are you going to pay $5 to transfer your $10 of bitcoin to somebody else? Nope.
Try learning how bitcoin works.
The amount of energy used is arbitrarily determined by the demand for being a miner and that's currently dominated by the ~$300k value inherent to each block, which halves every few years of mining.
Less value in a block, less mining, less energy used. It's built into the bitcoin protocol to reduce power use over time.
Guy is an israeli shill. He's not here in good faith. He wants to justify murdering journalists because they speak out against israel and the children they rape/murder