Bitcoin isn't green

[Etlase2]

But it actually gets much better.  Because the current Bitcoin market cap could grow by a factor of 100 with only, at most, a doubling or tripling of energy consumption.  That would make it a 4.3 billion dollar market cap supported on less than $45,000 per day.

I don't follow this logic. If the market cap grows by 100, all other things being equal (very unlikely), the price per coin will multiply by 100. Only 2 or 3x people will start mining and everyone else will leave the 33-50x profit to miners?

[MoonShadow]

But it actually gets much better.  Because the current Bitcoin market cap could grow by a factor of 100 with only, at most, a doubling or tripling of energy consumption.  That would make it a 4.3 billion dollar market cap supported on less than $45,000 per day.

I don't follow this logic. If the market cap grows by 100, all other things being equal (very unlikely), the price per coin will multiply by 100. Only 2 or 3x people will start mining and everyone else will leave the 33-50x profit to miners?

You answered your own (implied) question.   Bitcoin has a potential velocity rate several orders of magnitude faster than what is possible or common with fiat currencies today.  Increases in velocity tends to suppress the market trade value of bitcoin.

[benjamindees]

I don't follow this logic. If the market cap grows by 100, all other things being equal (very unlikely), the price per coin will multiply by 100. Only 2 or 3x people will start mining and everyone else will leave the 33-50x profit to miners?

Four things.  One, the block reward halving will make mining more competitive.  Two, there are only 8 million out of 21 million Bitcoins mined so far.  Three, newer mining technologies will produce a 10-20x reduction in power usage per hash.  And finally, eventually the price of Bitcoin in dollars won't be particularly relevant anyways, assuming things go well.

[TheBitMan]

Bitcoin mining fueled by solar and wind power. 

[leiyplane]

Mine with FPGA is green here.