this post was submitted on 21 Nov 2024
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Really though, I just went through a rabbit hole of confirming a single BTC transaction uses more than 700 KWH, that's 3 months electricity to me!
A single BTC transaction uses 700kWh of electricity? I'd like to see those documents too now because that doesn't sound right at all.
I feel like most of the articles saying this are confusing the mining power usage (a constant load) with the transaction power usage. (Essentially nothing) Each transaction fee does incentivise more mining, but it's not a flat power cost per transaction.