bitcoin energy

gistfile1.txt

HN: hyphothesis
AN: Axioms/Rules

H1: most minners uses top hardware 5 [TH/s] at 3600 [W] (best case)
source: https://en.bitcoin.it/wiki/Mining_hardware_comparison

H2: at ~5 [TH/s] it's expected to generate 0.05 [BTC/d]
source: https://alloscomp.com/bitcoin/calculator

A1: rule: 25 BTC/block
source: https://en.bitcoin.it/wiki/Controlled_supply#Projected_Bitcoins_Short_Term

H3: average of 800 [tx/b]
source: https://blockchain.info/charts/n-transactions-per-block

american household electricity consumption
H4: ~ 10 000 [kWh/d] * 3.6 [MJ/kWh] = 36 [GJ/d]
source: http://www.eia.gov/tools/faqs/faq.cfm?id=97&t=3

miner production:
3600 [W] = 3600 [J/s] * 60 [s/m] * 60 [m/h] * 24[h/d] ~= 311 [MJ/d]
0.05 [BTC/d] * 1/25 [b/BTC] * 800 [tx/b] ~= 1.6 [tx/d]
311 [MJ/d] / (1.6)[tx/d] =  194 [MJ/tx] ~=  0.2[GJ/tx]


0.2[GJ/tx] * 1 [tx] ~= 0.1[GJ] the expected amount of energy a top hardware miner uses for one transaction
36 [GJ/d]  * 1 [d]  ~= 1  [GJ] is one fold less than the amount of energy to power an american home
                               this is still a lot of energy !