the Bitcoin network has a relatively low carbon footprint. Does a bitcoin aristocracy sound good, though? Also, large-scale mines are likely to outperform small miners due to economies of scale. To the extent that a city was going to burn fossil fuels to heat homes, this is an environmentally friendly solution that gets more value.
It happened with steam. This will typically be expressed in Gigahash per second (1 billion hashes per second). This arbitrary approach has therefore led to a wide set of energy consumption estimates that strongly deviate from one another, sometimes with a disregard to the economic consequences of the chosen parameters. This could be programmed in the algorithm or offered as bonus for proof of renewable energy. Bitcoin would rise to levels of 100,000 or higher. I can really see the potential. Why more efficiency does not improve the situation If some of the miners would increase their efficiency, for instance by buying new hardware which increases the capacity of their system to 5,000,000 Mhash/s for the same energy use, this would enable them to catch.
Open source bitcoin trading bot, Il sole 24 ore ebook bitcoin,