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Global Bitcoin Mining Data Review [pdf]

18 pointsby steelstrawover 3 years ago

2 comments

Imnimoover 3 years ago
&gt;Bitcoin mining is 5814% more efficient over the the last 8 years.<p>And, through the magic of the Bitcoin protocol, that efficiency gain does not translate at all into energy savings. The Bitcoin incentive structure means that if mining becomes 100x more efficient tomorrow, you should just mine 100x more by spending the same amount of energy.
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propogandistover 3 years ago
What&#x27;s most interesting is on their second page:<p><i>46% of the bitcoin network is controlled by 36 private for-profit companies</i>, that are represented by this &quot;bitcoin mining council&quot; that&#x27;s pushing this PR piece to protect their interests<p>So, a measly 36 for-profit companies control nearly 50% of the &quot;currency&quot; that is supposed to replace all other currencies<p>You better believe they will try to do everything they can to protect their money minting empire.
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