- many countries have eliminated pennies
- mining will have to continue even after "coins" aren't produced, to verify transactions.
It's more apt to measure power per transaction, against a traditional bank (or a handful of cash, amortized over it's life.) There was a good explain xkcd about the cost of carrying around physical money in your car.
All Bitcoin documentation ever. The purpose of mining is actually not to generate BTC; the purpose is to prevent double spending and the block reward is just an incentive.
- many countries have eliminated pennies - mining will have to continue even after "coins" aren't produced, to verify transactions.
It's more apt to measure power per transaction, against a traditional bank (or a handful of cash, amortized over it's life.) There was a good explain xkcd about the cost of carrying around physical money in your car.