Saifedean Ammous
@saifedean

Why your blockchain app likely won't work:
The cost of a byte of data on the only blockchain that is immutable, Bitcoin, is ~8.5c, around 1billion x cost on a hard disk.
Other than a ledger for a politically neutral global monetary system, nothing is worth that kind of cost

  • 3 months ago
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Math:
-Bitcoin block reward (around 12.65 btc) x Price (around $7000), divided by blockspace (around 1MB)= 8.855c/byte
-1TB hard disk = $60. 6e-9c/byte.
Cost ratio = 8.855/6e-9 = 1.48b

  • 3 months ago
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