this post was submitted on 21 Nov 2024
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[–] ininewcrow@lemmy.ca 59 points 8 months ago (14 children)

"I'm going to paint a shitty picture" ....... while using enough electricity to power a small town for two months

[–] SolacefromSilence@fedia.io 22 points 8 months ago (4 children)

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!

[–] tomcatt360@lemmy.zip 13 points 8 months ago (2 children)

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.

[–] SolacefromSilence@fedia.io 2 points 8 months ago

If the constant load shouldn't count against the transaction, how should it be tallied?

https://www.statista.com/statistics/881541/bitcoin-energy-consumption-transaction-comparison-visa/

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