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Each Bitcoin transaction uses 4,200 gallons of water — enough to fill a swimming pool — and could potentially cause freshwater shortages (www.tomshardware.com)

submitted 11 months ago by [email protected] to c/[email protected]

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[–] [email protected] 24 points 11 months ago (1 children)

False. Mining is what uses electricity (and water) in bitcoin, not transactions. Adding more transactions does not add to the cost. Calculating consumption per transaction is misleading as the two are not related.

What does add to the cost is complexity, and complexity is calculated based on number of miners in the network in order to achieve the sweet spot of 1 block every 10 mins (if i remember correctly). If there's a lot of competition, each miner will have to use more electricity to win.

[–] [email protected] 3 points 11 months ago

Finally someone that get's it