1

Right now in this moment Thu 11 July 2019 22:08 UK time

enter image description here

That's a sizeable number. Almost as big a fraud comitted by a single bank: https://en.wikipedia.org/wiki/Danske_Bank_money_laundering_scandal

It would be easy to calculate the current price of Antminer, current difficulty, ignore the difficulty adjustment and come with some number.

But in reality, there were many different hardware, difficulty was changing and as a result I'm rather unsure - how much money in terms of HARDWARE and ELECTRICITY was invested into Bitcoin?

Feel free to make reasonable assumptions, such as 10¢ per kWh.

Relevant resources:

 More explanation:

enter image description here https://hackernoon.com/the-future-of-machine-learning-hardware-c872a0448be8

  • 2009 CPU - no hardware investment - just electricity
  • 2010 GPU - some hardware investment
  • 2011 GPU and FPGA - hardware investment
  • 2012...

Given all the data, it should be possible to come to some reasonable estimate.

(not including the cost of real estate to house mining farms and 1000s of engineering hours and constant worldwide media attention)

PS. I love everything about Bitcoin, specifically math, cryptography, economy, and physics - conversion of energy ⚡️⚡️⚡️

closed as off-topic by RedGrittyBrick, Pieter Wuille, chytrik, Ugam Kamat, Andrew Chow Jul 13 at 16:58

This question appears to be off-topic. The users who voted to close gave this specific reason:

  • "Questions on current or future market values, energy costs or service provider availability are off-topic as the answers are changing too frequently to be useful to others." – RedGrittyBrick, Pieter Wuille, chytrik, Ugam Kamat, Andrew Chow
If this question can be reworded to fit the rules in the help center, please edit the question.

  • I'd like to comment for others that, even though the question is very broadly and unlikely to produce good results, it looks within the rules of "events that are applicable and relevant to the Bitcoin network" – Tiago Loriato Simões Jul 12 at 3:38
  • @TiagoLoriatoSimões there are questions that are off-topic, despite broadly falling under that criteria. For example, a question about a centralized Bitcoin business' customer service policy would certainly be relevant to some subset of Bitcoin users, but it would still be off-topic as a customer-service question. – chytrik Jul 12 at 22:50