Bitcoin’s mining uses more electricity than whole of Ireland
Bitcoin’s mining network, used to prevent fraud, consumes more electricity annually than all of Ireland, according to cryptocurrency news platform, Digiconomist. The statistics, which showed Bitcoin using 30.14TWh per year, were released as the currency broke $9,000 for the first time. Such usage exceeds that of 19 European countries and means each Bitcoin transaction uses nearly 300KWh of electricity, equivalent to boiling 36,000 full kettles. One of Visa’s two US data centres, which conduct 200 million transactions daily compared to Bitcoin’s 350,000, is believed to run on 2% of the cryptocurrency's power. 

Luke Broyles

@luke_broyles

$1 billion #Bitcoin...



Fidelity's @TimmerFidelity thinks #BTC could reach $1 billion by 2038, or 15 years from today.



This would make one sat worth $10.



Who knows if 2038 will be right... However if #Bitcoin thesis is correct there is no logical conversation rate for USD. 🤯