Replying to Avatar Globe99

It'll presumably affect costs of data centers, ASICs etc as those will get bid up to support mining... Nothing exists in a vacuum
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This is Andy 5d ago 💬 1

Agree. Sound money cant exist without some cost to the world. However, worth some napkin ChatGPTing to compare.

Bitcoin total energy use and ASICs was ballparked around $7-13B annually.

A price of $75/Oz for 600 million Oz of silver per year use in industry is $45B.

A price of $4500/oz for 10 million oz of gold per year use in industry is $45B as well.

Costs to mine Gold and silver are ~$150B and $20B annually.

Also this is not considering some percentage of bitcoin mining is done on energy that does not compete very directly with the broader market (renewables generating excess).

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Globe99 5d ago

Yep, seems like reasonable analysis. The "excess renewable energy" thing is really key. There are millions of rooftop solar households that could become Hodlers because of this...