this post was submitted on 04 Dec 2023
199 points (99.5% liked)
Technology
37735 readers
351 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
False. Mining is what uses electricity (and water) in bitcoin, not transactions. Adding more transactions does not add to the cost. Calculating consumption per transaction is misleading as the two are not related.
What does add to the cost is complexity, and complexity is calculated based on number of miners in the network in order to achieve the sweet spot of 1 block every 10 mins (if i remember correctly). If there's a lot of competition, each miner will have to use more electricity to win.
Finally someone that get's it