What is accepting BTC as a means of payment threat to energy?

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Ultramining.com

16:20 24/08/2022

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What is accepting BTC as a means of payment threat to energy?

According to the information from Arcane Research, by 2040 digital gold may become the leader in electricity consumption. The main factors that can impact the demand level are: the cost of cryptocurrency, amount of transaction fees and the energy prices.

Note that experts took into account that the cost of BTC can reach $2 millions. If it happens, in 17 years the consumption of the first cryptocurrency will increase 10 times. Arcane Research representatives said that at this moment, expenses for electricity take half of miners’ income. Reaching by BTC level $100 000 will lead to 45 TW/h energy absorption.

Analytics also admit the impact of halving when once in 4 years the miner’s reward becomes twice lower. As the “soften effect” for this process they call fees for transactions in the future.

Thus, Arcane Research is sure that critical for the global energy system growth of consumption is possible in the case if BTC becomes an official means of payments. If the coin will not be successful, a dangerous increment will not occur.

During the current situation, the level of consumption has fallen down by 25% since July.


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