I've never looked at this way, but I was watching this video: https://www.youtube.com/watch?V=eq96l30sk6i and looked up this article: https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change
They're talking about the energy used by bitcoin miners.
If you take the articles numbers from Nov 2017, each BTC transaction used aprox 215 kilowatt-hours to mine. According to this: https://www.rapidtables.com/calc/electric/energy-cost-calculator.html that translated into roughly $25.80 PER TRANSACTION depending on where you're located. That's not a transaction fee, that's what the miner paid in electricity to mine your transaction. That's insane.
From my understanding, with all else equal, there is no difference in mining power required between 1mb blocks and 32mb blocks. Increasing the block size means that dollar figure per TX goes down by the factor you increase it (+ whatever additional bandwidth costs you have for larger blocks which is negligible anyway). With a 32mb block size its 25.80/32 = $0.80625/tx, which is still high, but scale just scale further. It seems so simple, am I missing something???...
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source https://www.reddit.com/r/btc/comments/8yefwo/am_i_missing_something_here_even_the_mining_cost/
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