Bitcoin Electricity Cost 

In fact, according to a recent paper from Dutch bank ING, a single bitcoin transaction consumes enough energy to power the average household for an entire month. Digiconomist also found that Ethereum, the second most popular cryptocurrency today, also uses more than a country’s worth of electricity.

Speaking of cryptocurrencies…

Early bitcoin history is a good lesson on inefficient markets too, since a lot of miners have/had access to “free” electricity. This will change (as it’s already begun to) and the subsequent price change will be an interesting way to watch a market seeks efficiency (potatowire capsule summary of market efficiency: a market state with assets properly priced; transitory).

View the most recent posts on The Stream or all of the posts in the archive.