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In response to
"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"
by
Max
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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
Posted by
Beryllium (aka grayman)
Jan 17 '21, 19:19
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a new coin is added to the ledger. Or something like that.
It continues to get more and more expensive, but if I'm right, there's a flaw: I don't know what happens once the last coin has been mined.
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Responses:
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