Cryptocurrency mining uses significant amounts of energy as part of the proof-of-work time-stamping scheme to add new blocks to the chain. Expanding u…
i did some math on the damage per person. it comes out to $20 per user, per month, for 2021 if all US users held an equal amount. edit:when i did the calculation, i multiplied the damage x6. because price is 6x as high as it was for the study. the more the price goes up, the more incentive to mine. but i don’t think the damage jumps up by 6 instantly. recent news articles indicate that big miners expanded by x2 or x3. not x6.
it could grow later. …or not.
i did some math on the damage per person. it comes out to $20 per user, per month, for 2021 if all US users held an equal amount.
edit: when i did the calculation, i multiplied the damage x6. because price is 6x as high as it was for the study. the more the price goes up, the more incentive to mine. but i don’t think the damage jumps up by 6 instantly. recent news articles indicate that big miners expanded by x2 or x3. not x6.
it could grow later. …or not.