Regular money is already harder to count because of integers mixed with decimals, devalued currency, and fluctuating prices. When you have a certain number of Bitcoin it's easier to account for.
The current finance system is way worse for the environment. Bitcoin could be powered by nuclear energy. Low energy policies are a disaster from the reactionary liberals.
The largest mining facility is hydro powered so it's pretty green.
It's still weird to imagine that mining a digital currency consumes real life resources.
In 2009 Bitcoin could've been mined on a simple laptop. Some people accumulated many thousands of them, like the guy who spent 10,000 BTC for 2 pizzas.
While mining difficulty increases everyday, it doubles in difficulty from where it is every 4 years. The last havening was this year. It's programmed to behave this way.
The miners are solving puzzles basically and they become more complex, so more processing power is needed to beat the other miners to the punch, whoever get the most work done will score more Bitcoin.
Bitcoin is finite and there will be 21 million BTC in total. As I'm writing this 19,781,418 BTC has been mined. The last Bitcoin will be mined in the year 2140. So it will take 116 years to mine less than 2 million BTC. None of us will live to see it happen.
When all of the Bitcoin is mined, the miners can still keep mining as they'll earn from the gas fee. It's the miners that secure the network. I also imagine in the year 2140 the value of one Bitcoin will be beyond belief by today's standards.
With that I'd say the reason why it's costing so much energy is because people are racing so the hardware is more demanding. I cannot mine a single Bitcoin. If I got the hardware for it, I'll be selling some BTC to handle operating cost. It's literally easier to mine gold.
Now I'm stuck wondering how much of a carbon footprint is made by daily quests in MMOs.
The ASIC miners probably still consume more energy. It's been said the most computing power you'll find in the world is found on the Bitcoin network.
The video game isn't going to stress the GPU either. So if we had say 20 people on computers playing a game, a 20 GPU farm will probably still consume more energy than the 20 players combined, including the rest of the computer hardware.
It'd be Distributism within Capitalist themes, wouldn't it?
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Pretty much yes.
