Bitcoin Q&A: Mining, energy prices, and fee market

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Hey andreas,

could you discuss the relationship between the Price of Bitcoin, the hashrate and the total energy consumption due to mining at high prices?

When I read the "Predictions" of 300,000 to 1,000,000 $/BTC I wonder how would the total energy demand will look like in this cases. Today the estimations on total consumpion are between 40 and 120 TWh in 2018 or 0.2 to 0,6 % of total global electricity consumption.

Thanks in advance

HKF

I am a miner… Its simple- If the value of BTC is growing faster than Hash-Rate its good and vice versa… It's ONLY when Hash-Rate is going UP and the value of BTC is going down- THAT'S WHEN IT's BAD!

Nice content! Wonderful Channel! Keep it up! Let's make a collaboration! ? ?

@aantonop Do you think that other coins like Nano will have more adoption because it bypases the whole mining energy consumption problem?

another brilliant video

Please, get yourself a Yeti.

I bought your book.

HEy Andreas, I have a question.. If a person owns some BTC and there is a fork, he gets equal value of new fork for example 0.0019 btc is also 0.0019 BTC SV now ? could you explain how this works

Andreas this video is great.. I can hear you fine and I can see you perfectly. Your Giving FREE KNOWLEDGE and People crying literally In the comments.. ungrateful entitled folks.

nice

Am I the only one who has a hard time watching Aantonop's videos with subtitles on? God, if they were the same, I could follow on…

There is always someone making profits mining bitcoin but not everyone is making profits!

that owl is annoying.

Why can't this concept of continual hash power adjustment (basically reducing supply to meet demand) be implemented differently within other things, like price stabilization? Couldn't the liquidity of supply be adjusted (via timelocks) to meet demand, therefore stabilizing the price of all remaining liquidity? Then you could have a price-flexible "stablecoin" without any collateral or 3rd parties. Something like what BitBay has built into their dynamic peg system. Do you think this is possible Andreas?

Mining difficulty goes up, mining difficulty goes down. You can't explain that.

Thanks for the great content please never stop! Your the best and have taught me so much!

Financial analysts don't understand mining because the way it works is based on the concept of supply and demand markets.

Fix your audio please, it's 2019

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Andreas, I'd argue that the ability to turn electricity (a tax-deductible expense) into real time anonymous liquidity is enough incentive for many entities to mine at a loss. I think this phenomenon will only increase in future, making it unprofitable for the average miner

Thank for this video Sir!

4 people like to write articles about Bitcoin

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now i understand why bitcoin DOESN"T waste energy, but banks DO! bitcoin always evolves to use less electricity to produce more bitcoins. but banks don't care about their computers' energy consumption, and i bet they even run BUILDINGS of TPUs for better AI to defeat retail traders in order to monopolize trading markets and suck up money.

Andreas; Great respect to you brother. I’ve seen most of your video contents and I’ve learned so much from you. You are so fond of decentralization (thus, equal to all); but I’ve been recently wondering; since electric power cost varies significantly globally; how is it possible to be fair for everyone worldwide?
Thank you brother if you could explain this issue.

Dont care what the price is when you read this. BTC is the investment of the century. Please read up, please learn.

Question for you: What happens to BTC price if the US Gov goes after Tether and shuts it down….will it be a huge setback for BTC

Andreas,thank for awesome content as always. Question: What will happen to security of bitcoin network in case of major solar flare? For example this:"At 4:51 p.m. EDT, on Monday, April 2, 2001, the sun unleashed the biggest solar flare ever recorded, as observed by the Solar and Heliospheric Observatory (SOHO) satellite. The flare was definitely more powerful than the famous solar flare on March 6, 1989, which was related to the disruption of power grids in Canada. This recent explosion from the active region near the sun's northwest limb hurled a coronal mass ejection into space at a whopping speed of roughly 7.2 million kilometers per hour. Luckily, the flare was not aimed directly towards Earth."

You still rock man, maximum respect, ain't that the immutable truth ????

Andreas, just a tip: spend some money on a good microphone, maybe also a bit of light. A channel with information of such quality should have better looks/sound quality and it is relatively easy to achieve that.