Martin SeegerApr 17, 2024

If you do 12 Bitcoin transactions per year, you use a higher amount of energy than we use for a complete family (including: heating, warm water, electricity, car charging) in the same year. We do all via electricity.

From: @tkinias
https://historians.social/@tkinias/112283441665687815

Thanasis Kinias (@[email protected])

I just read that a single Bitcoin transaction requires upwards of 1,000 kW-hr of electricity. That’s like running a small air conditioner 24/7 for a month and a half. Edit: This got way more attention than I expected from an offhand remark; I guess it hit a nerve on here! But I’m going to have to mute this, as it’s taken over my notifications...

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Show threadgavinisdie Apr 17, 2024
@masek @tkinias honestly, what about "blockchain" technology and that kind of shit requires ridiculous amounts of energy?
Show threadClaudius

@gavinisdie
"Proof of Work" is one part of Bitcoin. Because nobody trusts noone, you need something that nobody can easily fake. That's computing power. So you create a benign challenge that is very hard to solve and if you solve it, you get a reward.

The challenge is intentionally so hard that all computers create roughly one block every 10 minutes. If more computers are added, the problem just gets (artificially!) harder.
@masek @tkinias

Apr 18, 2024 at 7:21amWeb
Show threadClaudiusApr 18, 2024

@gavinisdie the challenge I'm talking about is basically "try to find a number that turns this other number into a specific format".

Computers try millions of hashes per second to find this special number by brute force. That number is not special though. We just **say** "these are the rules that must be met" - we could also instead do different rules and most of that energycost would just vanish.

I can't overstate how arbitrary and insane this is.

@masek @tkinias