Monday, November 13, 2017

One Bitcoin transaction takes more energy than a household uses in a week

Although Bitcoin has suffered a dramatic fall in value over the past several days, those who hold the cryptocurrency have enjoyed a 2017 year that has taken Bitcoin's value to new heights. With its increased value comes an increased strain on energy consumption. According to cryptocurrency analyst Alex de Vries, also known as Digiconomist, it would be profitable to use 24 terawatt-hours of electricity, about the equivalent annual energy consumption to Nigeria, a nation of 186 million, to "mine"...

from Inhabitat - Green Design, Innovation, Architecture, Green Building https://inhabitat.com/one-bitcoin-transaction-takes-more-energy-than-a-household-uses-in-a-week
via Inhabitat

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