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Quenty | 5 years ago

Turns out, about 10x less than Bitcoin, (this article seems to imply 25 million GJ per a year of energy mining/processing gold, and the Twitter thread implies 280 million GJ per a year in Bitcoin.

https://www.coindesk.com/microscope-true-costs-gold-producti...

Except Bitcoin also creates electronic waste, including gold, and, I would argue, is not at the scale that gold is at, as an influencing factor on the economy.

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jonstaab|5 years ago

Well, over the same time period, but gold has been mined for thousands of years, and for a long time much less efficiently. And bitcoin mining will decelerate as halving occurs, until the last coin is mined in a bit over 100 years' time.

tromp|5 years ago

Increasing fees are expected to make up for the repeated halving of block subsidy, as is necessary to maintain network security (and one of the major reasons why Bitcoin constrains block size). Within another 4 halvings, fees should start to dominate.