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 9 months ago by throws_lemy@lemmy.nz to c/technology@lemmy.world

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[-] Mubelotix@jlai.lu 1 points 9 months ago

Long text full of errors. Yes there is a mechanism to prioritize other uses of energy than mining. It's the market. Energy is usually sold between 0.1$ and 0.25$ per kWh while Bitcoin only buys for 0.05$ per kWh. Energy producers WILL sell to the highest offer, which is never Bitcoin unless it's the only option. It is almost always more profitable to just buy Bitcoin than mine it, which is why it's rarely done. Taking that into account, we can discard the rest of your comment

this post was submitted on 03 Dec 2023

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