Blockchain Bubble or Revolution: The Future of Bitcoin, Blockchains, and Cryptocurrencies
Neel Mehtaamazon.com
Blockchain Bubble or Revolution: The Future of Bitcoin, Blockchains, and Cryptocurrencies
The narrative today is, overwhelmingly: crypto mining (specifically: Proof-of-Work mining for Bitcoin and Ethereum) is a dangerously large consumer of energy. Where I expect the narrative to move to over time is: crypto mining is driving the energy transition from fossil fuels to renewables.
Nick Grossman • Bitcoin as Battery – The Slow Hunch by Nick Grossman
Pure-profit bitcoin mining needs to operate in the range of energy costs of 2–5 ¢/kWh, whereas the standard for residential consumption in the developed world is more in the range of 15-30 ¢/kWh, and for industrial use much more varied depending on the end use, but something like 40 ¢/kWh may be typical.
Sacha Meyers • Bitcoin Is Venice: Essays on the Past and Future of Capitalism
Tesla holds bitcoin on its balance sheet, and may soon resume accepting bitcoin payments as bitcoin mining shifts towards renewables
Jack Dorsey • The ₿ Word Bitcoin As A Tool For Economic Empowerment LIVE
Mining is two coupled markets for settlement and security; transaction fees are users’ bids for settlement rights; and the mempool is the miners’ ask for ordering transactions by offered fees. Similarly, hashes are miners’ bids for the right to add the next block, and the difficulty adjustment is the users’ asks for how much security they desire to
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