Unbelievable FUD from The New York Times
https://ift.tt/8D4b9xw
I dont think the number is too far off. I did a back of the envelope calculation and happy to hear criticism and improve accuracy
Specs of Bitmain Antminer S9: 1600 W providing 14 Th/s
Hashrate of Bitcoin network 200mio Th/s
Energy rating of Bitcoin Network: 200,000,000/14*1.6 KW = 22,850,000 KW
Energy use per block = 22,850,000/6 (6 blocks per hour) = 3.8mio KW-h
Energy use per transaction = 3,800,000 / 3000 (2-3k transactions per block) = 1,270 KwH
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Bitmain Antminer is the most efficient miner & blocks have less than 3k transactions most times so a more accurate estimate is very likely to be higher than mine so 2,000 KwH seems legit
Cryptocurrency
