ST Alpha - "I understand how mining a single bitcoin costs that much energy, but why would processing a retail transaction cost any more than credit card? -- nm" (Reading a Post)

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In response to "I wonder if this math checks out. -- (link)" by Beryllium

I understand how mining a single bitcoin costs that much energy, but why would processing a retail transaction cost any more than credit card? -- nm

Posted by Max Jan 17 '21, 18:46

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My (limited, wrong) understanding is that mining of a new coin needs to occur in order for transactions to be processed. So they get batched up until - Beryllium Jan 17, 19:19 1
- Iirc, the equation has to be solved by 3 miners to confirm and add the transaction to the public ledger -- nm - zeitgeist Jan 17, 19:31

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