Comment Comment by ArtTimeInvestor Bitcoin is getting an unfair treatment here on HN.The mining of Bitcoin uses as much resources as people are willing to pay for the resulting coins.The same holds true for gold.3000 tons of gold are mined per year. Which is worth about $150B. So the mining probably uses resources of about $150B as well.The value of bitcoins mined per year is $15B.So Gold mining probably uses about 10x as much resources as Bitcoin mining. parent ArtTimeInvestor 5 years ago
The mining of Bitcoin uses as much resources as people are willing to pay for the resulting coins.
The same holds true for gold.
3000 tons of gold are mined per year. Which is worth about $150B. So the mining probably uses resources of about $150B as well.
The value of bitcoins mined per year is $15B.
So Gold mining probably uses about 10x as much resources as Bitcoin mining.