Bitcoin Forum
November 22, 2017, 09:44:39 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 [5]  All
  Print  
Author Topic: Transaction cost in kWh  (Read 4690 times)
MasterMaA
Newbie
*
Offline Offline

Activity: 3


View Profile
October 02, 2014, 03:23:35 PM
 #81

What is the conclusion?
Is BTC's cost per transaction high?
1511343879
Hero Member
*
Offline Offline

Posts: 1511343879

View Profile Personal Message (Offline)

Ignore
1511343879
Reply with quote  #2

1511343879
Report to moderator
1511343879
Hero Member
*
Offline Offline

Posts: 1511343879

View Profile Personal Message (Offline)

Ignore
1511343879
Reply with quote  #2

1511343879
Report to moderator
Join ICO Now Coinlancer is Disrupting the Freelance marketplace!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511343879
Hero Member
*
Offline Offline

Posts: 1511343879

View Profile Personal Message (Offline)

Ignore
1511343879
Reply with quote  #2

1511343879
Report to moderator
1511343879
Hero Member
*
Offline Offline

Posts: 1511343879

View Profile Personal Message (Offline)

Ignore
1511343879
Reply with quote  #2

1511343879
Report to moderator
1511343879
Hero Member
*
Offline Offline

Posts: 1511343879

View Profile Personal Message (Offline)

Ignore
1511343879
Reply with quote  #2

1511343879
Report to moderator
Borisz
Sr. Member
****
Offline Offline

Activity: 476



View Profile
October 02, 2014, 03:26:33 PM
 #82

Just wanted to make the point that transaction cost isn't measured in kWh, it's measured in plain kW since there is a finite amount of time it takes a transaction to be mined.

This is the exact reason why it is measured in kWh (energy) and not kW (power).

It takes an amount of Energy to mine a block, not Power. Power is not descriptive as you could have 1kW running for 10 minutes or 10kW running for 1 minute and you would have the same result.

How could Power (kW) be used to measure the transaction fee? Could you explain what you meant?
monsterer
Legendary
*
Offline Offline

Activity: 1008


View Profile
October 02, 2014, 03:32:25 PM
 #83

How could Power (kW) be used to measure the transaction fee? Could you explain what you meant?

Ignore me, I'm talking rubbish in this case. Yes, you are correct, kWh is the right unit. Smiley
Morbid
Legendary
*
Offline Offline

Activity: 1131



View Profile
October 02, 2014, 05:28:22 PM
 #84

its obvious that the transaction cost is swallowed up by the miner who is actually paying the elecy bill for doing the mining. so this transaction cost is actually simply converted from elecy $ to BTC as a reward. its just conversion of wealth. buyer/seller of bitcoins dont lose anything. ether way - think of all the banks, printing machines, infrastructure that is out there to support fiat currencies. crypto wins in any case.

"between 'lives' we all have a great laugh about the parts we have performed in the 'play', and look forward to and have great fun preparing the next chapters to act out."
Borisz
Sr. Member
****
Offline Offline

Activity: 476



View Profile
October 02, 2014, 06:00:40 PM
 #85

its obvious that the transaction cost is swallowed up by the miner who is actually paying the elecy bill for doing the mining. so this transaction cost is actually simply converted from elecy $ to BTC as a reward. its just conversion of wealth. buyer/seller of bitcoins dont lose anything. ether way - think of all the banks, printing machines, infrastructure that is out there to support fiat currencies. crypto wins in any case.

Correct.
In no way is this to be confused with the Transaction fee that a user may pay for sending Bitcoins.
cdog
Hero Member
*****
Offline Offline

Activity: 672



View Profile
October 02, 2014, 06:09:35 PM
 #86



We are probably over secure at this point in time but the infrastructure is in place for the network to grow 10x in transaction size which existing mining infrastructure.

The problem is, we can rapidly pass 10x and goto 100x or 1000x before the network is ready

Pages: « 1 2 3 4 [5]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!