It is estimated that one Bitcoin transaction takes 1544 kWh to be processed.

Quick back of the envelope calculation: with that energy my car can run for 7125 km, so basically a short drive from Brussels, Belgium to Kabul, Afghanistan.

One transaction.

@mxtthxw According to Digiconomist a couple years ago, the current figure is substantially higher:

I picked the lowest estimate I could find, the numbers are insanely high enough as is

@jkb this year's energy consumption likely to be closer to 110TWh.

Whilst obviously significant, also significantly different to the estimate given hence my questioning of the data.

@mxtthxw Digiconomist figures are provided with methodology details and source data, along with criticism of both the method and the source data.

Even a lower estimate of 110 TWh would be insanely high, it's equivalent to what The Netherlands use. There are 17 million people in The Netherlands.


@jkb @mxtthxw Out of 7 billion humans. What's your point?

@jkb @mxtthxw (Half of those humans still need to considerably increase their energy production.)

@raucao Funny internet tokens stop being funny when they have the same electricity consumption as an actual country without bringing anything of value to anyone who's not an already rich whale, that is my point.

The experiment has run for more than a decade, we know how wasteful it is, we know how inefficient it is, we know how it cannot scale. We know it should have stopped long before but it won't because of speculation, which feeds itself TO THE MOON. All this makes me sad.

@jkb Wow! I thought you were just a little bit ignorant about something you hadn't researched enough when I first replied. But the amount of obviously and provably false assertions and conclusions you just wrote up there is truly staggering. It's well too much BS for me to refute in even a few posts, and I don't actually care about the opinions of rich Westeners unwilling to understand the world they inhabit, or consider the lives of half of humanity. Have a nice day! I'm out.

@raucao @jkb I think the point being that The Netherlands are very greedy energy consumers, which considering many of them use bicycles is quite remarkable...

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