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lowkeyokay | 4 years ago

I’ve been told mining for Bitcoin is almost done, and therefore the energy needed for Bitcoin will drop. Is that true?

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BenjiWiebe|4 years ago

If Bitcoin mining ends, then it's because Bitcoin ended too.

The block reward is lessening, yes. But miners also get the fees from the transactions in the block they mined, which incentivizes them to keep mining (mining is also what secures the whole thing).

I'd speculate that energy usage will go down somewhat in the future, but not significantly.

tromp|4 years ago

No, within a few decades transaction fees will exceed block subsidy and provide an ongoing incentive for mining.

hootbootscoot|4 years ago

energy usage is RISING with increased difficulty of proof-of-work, as intended.