HNGlance

Top Best New Show

Why the Biggest Bitcoin Mines Are in China

https://spectrum.ieee.org/computing/networks/why-the-biggest-bitcoin-mines-are-in-china

by amaks • 9 years ago

2 1 9 years ago

SP

spectrum.ieee.org

Related Stories

Loading related stories...

Comments

1

ballenf• 9 years ago

The pictures in this article and details of power consumption make the inherent proof-of-work approach very hard to defend.

The counter argument is that the resources required to secure, print and transport traditional currencies is probably still orders of magnitude greater. But on a MWh per $-equivalent flow, Bitcoin is probably orders of magnitude less efficient.

Would be great to see someone with actual numbers do calculations of that sort to watch trends over time. I wonder if the W / $-value-transaction is going down or up over time? That is, the energy spent vs. rate of flow of currency (as a rough measure of its utility), denominated in dollars.

Source preview

spectrum.ieee.org

HNGlance

© 2024-2026 HN Glance. Story content belongs to its original sources.

Privacy
Terms