Currently, 12.5 BTC are rewarded for each new block and that value is $8154. With a new block targeted every 10 minutes that means that (6x24x12.5x$8154) 14 million dollars is spent each day on electricity and depreciating mining rigs.
Bitcoin could use alternate means of securing the network other than proof-of-work.
Or if needed, nations can forbid the use of utility electricity for mining.
2 comments
[ 4.5 ms ] story [ 13.3 ms ] threadArgument 2: "Bitcoin is more than a company, so lets compare it with the costs of securing the whole internet"
Fact is the cost of a transaction is orders of magnitude bigger, and it's just getting worse with time.
Bitcoin could use alternate means of securing the network other than proof-of-work.
Or if needed, nations can forbid the use of utility electricity for mining.