anon8471647 on Nostr: "Bitcoin as economic energy" -questions you need to ask 1. What do you think of the ...
"Bitcoin as economic energy" -questions you need to ask
1. What do you think of the notion, perhaps popularized by Michael Saylor, that Bitcoin is economic energy? 2. Since mining Bitcoin is so damn competitive, is it fair to assume that the Bitcoin mined with $100 of electricity will always be close to $100?
3. If that's true then can we also say that the "economic energy" mined with 100 KW of energy will always be close to 100 kW?
4. If that's true, and given that there is an immense amount of heat lost in the process of Bitcoin mining does it not seem like Bitcoin mining breaks the law of conservation of energy?
1. What do you think of the notion, perhaps popularized by Michael Saylor, that Bitcoin is economic energy? 2. Since mining Bitcoin is so damn competitive, is it fair to assume that the Bitcoin mined with $100 of electricity will always be close to $100?
3. If that's true then can we also say that the "economic energy" mined with 100 KW of energy will always be close to 100 kW?
4. If that's true, and given that there is an immense amount of heat lost in the process of Bitcoin mining does it not seem like Bitcoin mining breaks the law of conservation of energy?