+John Lilic I replied to your post at https://www.linkedin.com/pulse/bitcoin-energy-consumption-unsustainable-protocol-must-john-lilic but for some reason my comment is not showing up. So here it is:

You quote VICE Motherboard and the BECI but both publish grossly inaccurate metrics. VICE completely failed to account for a 33x(!) improvement in Bitcoin mining ASIC efficiency and BECI overestimates power consumption by ~6x.

Read my critic of the VICE Motherboard article in section 5 of my post at http://blog.zorinaq.com/bitcoin-mining-is-not-wasteful/

Read my critic of BECI at https://plus.google.com/+MarcBevand/posts/EaBzFpPXXh3 I am in touch with the guy working on BECI and he will fix his numbers, see our Twitter discussion: https://twitter.com/zorinaq/with_replies

Finally, you said the cost of sending a transaction is "the amount of electricity to power ~47 Hong Kong homes for 1 day" but this is very wrong. You are off by a factor 35x(!). The "average household electricity consumption in Hong Kong is about 400 kWh per month" or 13 kWh per day (http://www.enb.gov.hk/sites/default/files/pdf/EnergySavingPlanEn.pdf) The energy cost per Bitcoin transaction was $1.80 as of Jan 2016 (http://blog.zorinaq.com/bitcoin-mining-is-not-wasteful/) which is equivalent to 18 kWh assuming $0.10/kWh. So one Bitcoin transaction uses the daily energy of ~1.4 Hong Kong houses, not 47. (And it is rapidly falling over time.)
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