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Comment on Over 2 percent of the US’s electricity generation now goes to bitcoin

The mining difficulty adjusts automatically so that 1 block is produced every 10 minutes on average.

More miners join, more difficult and expensive it gets, to the point it forces the least efficient miners to be turned off, or seek cheaper electricity. If too many leave or the price of BTC raises, more people are incentivized to join.

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assassin_aragorn@lemmy.world ⁨9⁩ ⁨months⁩ ago

More miners join, more difficult and expensive it gets, to the point it forces the least efficient miners to be turned off, or seek cheaper electricity.

So wealth continues to be concentrated by the wealthy while polluting a bunch.

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- deafboy@lemmy.world ⁨9⁩ ⁨months⁩ ago
  
  So wealth continues to be concentrated by the wealthy
  
  You know the business is legit, when the only complaint is “BuT ThE RiCh!!”
  
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