I hear this argument a lot and have a genuine question.
How does Bitcoin electricity usage compare to something that achieves a similar goal?
A good example is gold—many people compare Bitcoin to gold. What are the relative electricity costs of the two, and does that justify the cost of either asset? This would take into account the electricity costs of mining, labor, supply chain, storage, etc.
How does Bitcoin electricity usage compare to something that achieves a similar goal?
A good example is gold—many people compare Bitcoin to gold. What are the relative electricity costs of the two, and does that justify the cost of either asset? This would take into account the electricity costs of mining, labor, supply chain, storage, etc.